Thailand Government Enforces New Credit Terms for SMEs Starting November 2

Key summary

The Thai government is implementing new trade regulations to improve liquidity for small and medium enterprises (SMEs). Deputy Prime Minister Supachai Jaidan and Commerce Minister Supachai will enforce a rule requiring large trading partners to pay within 30 to 45 days. The regulation, published in the Royal Gazette on October 2, 2026, takes effect on November 2, 2026. It mandates payment terms of no more than 30 days for agricultural products and up to 45 days for general trade, production, and services. Changes to credit terms or contract conditions must be notified at least 60 days in advance. The Thai SME Council estimates that reducing payment periods from 60 to 45 days could return approximately 250 billion baht to the SME economy, while reducing it from 90 to 45 days could increase liquidity by about 750 billion baht. These are estimates based on payment duration assumptions and not direct government funding. The government is also addressing digital platform costs and fees affecting small businesses.