BANGKOK (NNT) – With the sluggish global economy hurting foreign trade, the Ministry of Commerce has seen that free trade agreements (FTAs) can give Thai businesses a competitive advantage while supporting Thai farmers. With no tariff barriers from importers, the ministry is to organize an event for competent farmers, members of community enterprises and small scale entrepreneurs to meet and establish networks with key business partners in a bid to expand export opportunities.
The Deputy Minister of Commerce, Weerasak Wangsupakitkosol, said today he had instructed the Department of Foreign Trade to invite farmers, members of community enterprises and entrepreneurs who have export quality products, but lack sufficient marketing knowledge to exchange information and receive guidance from foreign trade experts. They would then be able to take advantage of the FTAs between Thailand and 18 countries, including the 10 ASEAN member states, China, Japan, South Korea, India, Australia, New Zealand, Chile, Peru and Hong Kong. Many Thai products benefit from these FTAs, as they are not subjected to tariffs. The meeting between different sectors was held to seek new markets for different agricultural products and generate more income for local farmers and producers.
FTAs are one of the economic drivers supporting Thai farmers and entrepreneurs. In the first 11 months of last year, trade between Thailand and its 18 FTA partners totalled 279.39 billion US dollars, or 62.76% of total trade. The top five FTA partners that Thailand exported to in the period were ASEAN, China, Japan, Australia and South Korea.
