Thailand's int'l trade under FTAs on the rise

BANGKOK, May 9 (TNA) - The Thai Ministry of Commerce reports that the country's international trade, in terms of both exports and imports, under all 12 existing free trade agreements (FTAs) have been on the rise. Auramon Supthaweethum, Director-General of the ministry's Department of Trade Negotiations, told journalists on May 8 that Thailand's observation and utilization of the exporting right under the 12 existing FTAs reached about 60 billion US dollars last year alone, an increase of 15.2 per cent year-on-year and accounting for 71.3 per cent of the country's overall exports under the FTAs. Auramon stated that major Thai shipments in 2017, based on the exporting right of the existing FTAs, included automobiles and parts, air conditioners, mixed natural and synthesized rubber products, gems and jewelry, processed food products and petrochemicals with major importing markets including other neighboring countries in the ASEAN Economic Community (AEC), followed by China, Australia, Japan and India. Auramon said that, on the other hand, major Thai imports in 2017, based on the observation of the existing FTAs, reached about 30 billion US dollars, an increase of 6.76 per cent year-on-year and accounting for 51.08 per cent of the country's overall imports under the FTAs, with major imported goods including steel, machines and accessories, as well as electric machineries, tools and accessories and plastic products. According to the senior Thai official, most of the imported products came from China, followed by other member countries in AEC, Japan, South Korea and Australia The senior official suggested that Thai business operators access to her department's websites, http://www.dtn.go.th or http://tax.dtn.go.th/, to check tariff rates of products announced by 17 countries under the 12 existing FTAs, thanks to the information technology (IT) system adopted and now put in good place by her department. (TNA)