Thailand, Japan discuss ways to cash in on JTEPA

YOKOHAMA, Nov 13 – Thailand and Japan have discussed approaches to benefit from implementation of the Japan-Thailand Economic Partnership Agreement (JTEPA) for the mutual benefit of both countries, according to Deputy Commerce Minister Alongkorn Ponlaboot.

Speaking on holding a bilateral discussion with Motohisa Ikeda, Minister of Economic, Trade, and Industry (METI) during the 22nd APEC Minister Meeting held here on Wednesday (Nov 10), he said key issues raised for discussion included the planned implementation of JTEPA), investment in construction of the Ho Chi Minh-Bangkok-Tawai route, organisation of Thailand’s
International Creative Economy Forum.

Currently, he said, the government had been shifting a task to supervise and carry out JTEPA from the Foreign Ministry to the Commerce Ministry. It had to take time to ensure a function to control and supervise the agreement is complete.

Upon completion of the transfer of the task, Thailand and Japan are able to discuss various issues to accelerate cashing in on the JTEPA implementation.

He said the move would benefit the economy and trade ties of both countries. In particular, the Commerce Ministry is able to carry out the international trade policy efficiently

Mr Alongkorn said Thailand and Japan had also discussed a possibility of trade liberation of the automobiles with engine of more than 3,000cc, cooperation in establishing the institute for human resources development in the auto industry.

Thai-Japanese trade has expanded continuously. From January through September, the bilateral trade during 2010 has so far been valued at Bt1.38 trillion, up 41.79 per cent from the same period last year.

Thailand’s exports to Japan totalled Bt478.29 billion or 23.60 per cent of the country’s total shipments. (MCOT online news)