ID :
169360
Sat, 03/19/2011 - 13:12
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http://m.oananews.org//node/169360
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Thai public and private sectors encouraged to exercise free trade privileges
BANGKOK, March 19 (TNA) - Commerce Minister Pornthiva Nakasai has urged Thai public and private sectors to make the most use of privileges available under regional free trade deals.
Pornthiva said local business operators have rarely exercised privileges under the ASEAN Free Trade Area (AFTA) Agreement, as well as free trade accords between the Association of Southeast Asian Nations (ASEAN) and China and even between Thailand and China. Therefore, she has ordered her ministry's Department of Trade Negotiations to encourage local operators to actively exercise the available privileges, especially those offered under the ASEAN-China free trade pact.
According to the Thai commerce minister, the value of trade between Thailand and China was over 45 billion US dollars last year, representing a 38 per cent year-on-year increase, with Thai exports to China standing at 21 billion US dollars, a 33.7 per cent year-on-year rise, while Thai imports from China accounted for some 24 billion US dollars, a 42 per cent year-on-year increase.
Pornthiva noted that Thai exports under the ASEAN-China free trade agreement stood at 11 billion US dollars last year, but only 7.3 billion US dollars of which enjoyed privileges available from the regional free trade deal, and that, given China's immense population of 1.3 billion, if Thailand increased its exercise of those free trade privileges by only 10 per cent in all product categories, the Thai economy could boost its export value significantly. She projected, however, that the value of Thai exports to China should reach nearly 50 billion US dollars this year.
The Thai commerce minister said she believes that the establishment of the ASEAN Economic Community (AEC) by 2015 will fully liberalize trade among Southeast Asian nations and will boost the value of trade among ASEAN members and the value of trade with China, Japan and South Korea due to free trade agreements between ASEAN and these countries. (TNA)
Pornthiva said local business operators have rarely exercised privileges under the ASEAN Free Trade Area (AFTA) Agreement, as well as free trade accords between the Association of Southeast Asian Nations (ASEAN) and China and even between Thailand and China. Therefore, she has ordered her ministry's Department of Trade Negotiations to encourage local operators to actively exercise the available privileges, especially those offered under the ASEAN-China free trade pact.
According to the Thai commerce minister, the value of trade between Thailand and China was over 45 billion US dollars last year, representing a 38 per cent year-on-year increase, with Thai exports to China standing at 21 billion US dollars, a 33.7 per cent year-on-year rise, while Thai imports from China accounted for some 24 billion US dollars, a 42 per cent year-on-year increase.
Pornthiva noted that Thai exports under the ASEAN-China free trade agreement stood at 11 billion US dollars last year, but only 7.3 billion US dollars of which enjoyed privileges available from the regional free trade deal, and that, given China's immense population of 1.3 billion, if Thailand increased its exercise of those free trade privileges by only 10 per cent in all product categories, the Thai economy could boost its export value significantly. She projected, however, that the value of Thai exports to China should reach nearly 50 billion US dollars this year.
The Thai commerce minister said she believes that the establishment of the ASEAN Economic Community (AEC) by 2015 will fully liberalize trade among Southeast Asian nations and will boost the value of trade among ASEAN members and the value of trade with China, Japan and South Korea due to free trade agreements between ASEAN and these countries. (TNA)
