World

Thailand plans to seek new FTAs to increase exports

Thailand plans to seek more free trade agreements (FTAs) with countries in the Middle East, Africa and Latin America by the second half of this year, a move to expand new export markets.
Thailand plans to seek new FTAs to increase exports ảnh 1Illustrative image (Source: AFP/VNA)
Bangkok (VNA) – Thailand plans to seek more freetrade agreements (FTAs) with countries in the Middle East, Africa and LatinAmerica by the second half of this year, a move to expand new export markets.

Director-General of the Trade Negotiations Department AuramonSupthaweethum was quoted by local media as saying that the department expectsthe studies will take 6-12 months.

During the studies, she said public hearings will also beheld, with all stakeholders allowed to voice their concerns.

According to Auramon, the studies on the new FTAs wereproposed by the private sector at a recent meeting of a joint public-privatecommittee chaired by Commerce Minister Jurin Laksanawisit to increase exports.

Thailand has 14 FTAs with 18 countries and is a member ofthe Regional Comprehensive Economic Partnership, which came into force earlythis year.

According to the Foreign Trade Department of Thailand, theuse of FTA privileges by Thai exporters tallied 76.3 billion USD in 2021, thehighest in six years. The utilisation rate of FTA privileges was equivalent to78.2 percent last year, up from 76.5 percent in 2020.

The top five products using FTA privileges were trucks witha weight not exceeding five tonnes, fresh durian, passenger cars with 2,500ccengines, natural synthetic rubber products, and chicken meat and offal. Theimport value under FTA privileges in 2021 rose 28.5 percent to 44.9 billion USD.

Thailand’s export has recovered strongly in 2021 with growth of 17.1 percent.In the first two months of 2022, the increase was 12.2 percent to 44.74 billionUSD. In the first quarter of this year, the country’s export revenue isforecast to expand 7-8 percent./.
VNA
#FTAs#the Middle East#Africa#Auramon Supthaweethum#Thailand#VietnamPlus#Vietnam news
Follow VietnamPlus

Related News

Thailand aims to become biological centre of ASEAN

Thailand aims to become biological centre of ASEAN

The Thai cabinet has approved an extension of a 25 percent corporate tax exemption for bio-plastic companies in order to promote Thailand as a biological hub of the Association of Southeast Asia Nations (ASEAN).

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.