Recently, Department of Trade Negotiations disclosed about Thailand trade’s situation under free trade agreement (FTA) with other countries during five months in this year.
“From January- May in this year, FTA with every country has tendency to increase because the main products of Thailand can be expanded to other markets. Thailand has Trade surplus to Australia, India, Peru and BIMSTEC group, However Thailand has Trade deficit to New Zealand, China, Japan, and European Free Trade Association: EFTA”, Khun Chutima Bunyaprapat, Director-General of Trade Negotiations Department said.
“In case of trade surplus of Thailand, that’s because of Trading Countries decreased tax rate of major commodities as FTA’s agreement, so Thailand has more capability to increase export volume when compare with countries which do not have FTA’s agreement. In the opposite, Thailand import the goods to produce a product is the main cause to make a deficit, especially raw material products and half completed goods which will effect the export volume in the future.
For FTA’s value between Thai-Australia, Thai exported value 90,114.77 (THB Millions), 15.25 percentage increased and imported value 59,464.16 (THB Millions), 14.20 percentage increased. For Thai-New Zealand, exported value 9,264.08 (THB Millions), 15.31 percentage increased, and imported value 9,847.64 (THB Millions), 94.75 percentage increased.
FTA between Thai-India, Thai exported value 42,212.52 (THB Millions), 21.90 percentage increased and imported value 36,454.89 (THB Millions), 30.09 percentage increased, while FTA between Thai-China, Thai exported value 222,739.41 (THB Millions), 17.82 percentage increased and imported value increased 20.62 percentage or 265,168.20 (THB Millions).
FTA between Thai-Japan, exported value 261,109.51 (THB Millions), 2.92 percentage increased and imported value 443,659.72 (THB Millions). For Thai-Peru, Thai exported value 3,359.31 (THB Millions), 212.45 percentage increased, and imported value 1,259.08 (THB Millions), 26.54 percentage decreased.
The trade between Thailand and BIMSTEC group, exported value 75,799.56 (THB Millions), 27.45 percentage increased and imported value 74,830.68 (THB Millions), 16.07 percentage increased, and the trade between Thai-EFTA group, exported value 21,959.20 (THB Millions), 4.27 percentage increased and imported increased 75.20 percentage or 44,752.95 (THB Millions).
“Although FTA has the affect to increase the export volume but our some product also has negative affect from FTA. However, government always follows and estimates the trade situation regularly. In case there is any group of product which will be affected to domestic industry, government will issue policy to protect or entrepreneurs, they can inform to Ministry of Commerce for subsidy from FTA fund.” Khun Chutima added.
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