Mr. Arkhom Termpittayapaisith, Minister of Finance stated at the signing ceremony for the Letter of Intent to expand cooperation in the Rubber Industry Entrepreneur Development Project (CARE) that currently, the export value of rubber and its products exceeds 680 billion baht per year, benefiting over 6 million people, from upstream farmers in rubber plantations covering more than 18 million rai, to midstream operations such as concentrated latex factories, dry rubber factories, and rubber wood processing plants, down to downstream producers of medical rubber products, automotive parts, construction and engineering rubber products, conveyor belts, rubber wood furniture, and construction materials. Most operators in this industry are small and medium-sized enterprises (SMEs) and micro-entrepreneurs.

The goal of this project is to elevate rubber farmers while promoting products and management to meet environmental standards in the bio-circular-green economy (BCG Economy), thereby increasing the value of rubber products and Thailand's export value.

In the initial phase of the operation under the first Letter of Intent, partner agencies will promote the project to members of the supply chain, including the establishment of a comprehensive rubber industry integration center at the Muk Chai Muang Yang Industrial Estate in Rayong province, to serve as a one-stop coordination center for local operators.

However, this signing is expected to support access to funding sources for operators, especially SMEs in the Thai rubber industry, with a budget of 2 billion baht in 2023, increasing opportunities for Thai rubber products to sustainably capture market share in the global market.

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The signing of the Letter of Intent to expand cooperation in the Rubber Industry Entrepreneur Development Project (CARE) today included Mr. Arkhom Termpittayapaisith, Minister of Finance, and Mr. Krisada Chinavicharana, Permanent Secretary of the Ministry of Finance, alongside Mr. Sanan Angubolkul, Chairman of the Thai Chamber of Commerce and the Federation of Thai Industries (Chamber of Commerce), Dr. Chaiyacharn Charoensuk, Chairman of the Thai National Shippers' Council (TNSC), Mr. Nakorn Trakulkij, Governor of the Rubber Authority of Thailand (RAOT), Mr. Kittiphat Pheantham, Deputy Managing Director of Krung Thai Bank, Mr. Pongpan Jongrak, Deputy Manager of the Bank for Agriculture and Agricultural Cooperatives (BAAC), Dr. Rak Vongratanapokathorn, Managing Director of the Export-Import Bank of Thailand (EXIM BANK), Mr. Sitthikorn Direksunthorn, Director and General Manager of the Small Industry Credit Guarantee Corporation (SICGC), Dr. Lakkhai Kittipol, Chairman of the Executive Board of Muk Chai Muang Yang Industrial Estate in Rayong, and Honorary Chairman of Thai Hua Rubber Public Company Limited, and Mr. Surachai Nimlaor, President of Green Solution Business at Construction Products and Materials Co., Ltd.