The Cabinet gave the green light to review the ASEAN FTA framework in response to the new trade trend.
On April 10, 2022 at 4:30 p.m.
PM moves forward with negotiations to review ASEAN’s FTA, prepares to propose to NSO and Cabinet Points to be modern to support new forms of trade Confident that Thailand will benefit
Mrs. Oramon Sapthaweetham Director-General of the Department of International Trade Negotiations revealed that the Department has held a meeting with relevant sectors including the government, the private sector, farmers’ groups, and civil society. and academics At the end of March To receive opinions on the preparation of a dialogue framework to review or enhance the Free Trade Agreement (FTA) of ASEAN and that of ASEAN with key trading partners. As a result of the meeting of the ASEAN Economic Ministers, the meeting has approved ASEAN to begin reviewing the ASEAN Trade in Goods Agreement (ATIGA) in force since 2010 and reviewing the FTAs that ASEAN has made with key trading partners including China, India, South Korea and Australia. and New Zealand in force from 2005-2010 to be up-to-date to support new trade issues and changing forms of trade such as electronic commerce Trade and Sustainable Development and linking the production chain
In this regard, the meeting has concluded on the preparation of Thailand’s negotiation framework to review the FTA of ASEAN and its key trading partners. The DIP will bring the aforementioned conclusions to Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce for consideration. to the meeting of the International Economic Policy Committee (NOE) and the Cabinet (Cabinet) to approve So that the Thai negotiating committee can use it as a stance for negotiating the level of FTA of ASEAN and its key trading partners.
Review of ASEAN FTAs and Dialogue Partners This will be an opportunity for Thailand to discuss with key trading partners in order to open up the market. Reduce and exempt additional customs duties on goods and services that Thailand has potential Because in the past, trading partners have not canceled tax collection from Thailand. including solving existing trade barriers to facilitate trade for Thai entrepreneurs
However, since the Thailand-ASEAN FTA and its dialogue partners came into force, Thailand-ASEAN trade value in 2021 has increased by 94% since it came into force. In 2010, the value of trade between Thailand and China has increased by 580%.
As for the ASEAN-China FTA, effective in 2005, the value of trade between Thailand and South Korea increased by 92%. Enforced in 2010, the value of trade between Thailand and India increased by 202%, while the ASEAN-India FTA It came into force in 2010 and the value of trade between Thailand and Australia and New Zealand has increased by 51% since the FTA came into force in 2010.