Thai private business operators are urging the government to speed up the finalisation of free trade agreements (FTA) with more countries to boost Thai exports, which fell for ten straight months until a rebound by 2.6% year on year last month.
They also call on the government to remove obstacles to facilitate cross-border trade with Thailand’s neighbouring countries.
The Thai private sector’s call was echoed at a meeting yesterday (Wednesday) between Commerce Minister Phumtham Wechayachai and representatives from the Board of Trade, Federation of Thai Industries, Thai Bankers’ Association, the Thai National Shippers Council and the Thai Retailer Association.
Commerce Minister Phumtham Wechayachai
During the meeting, the private sector specifically raised the inconclusive negotiations on an FTA between Thailand and the European Union and has urged the government to speed up the process.
Currently, Thailand has concluded 14 FTAs with 18 countries, lagging behind the other ASEAN members, such as Singapore, Malaysia, Indonesia and Vietnam.
Phumtham told the meeting that the Department of Trade Negotiations has been negotiating with Thailand’s trading partners and is expected to conclude FTAs between Thailand and four European countries, namely Switzerland, Norway, Iceland and Liechtenstein, as well as with Canada, Turkey and Sri Lanka.
The commerce minister also said that Thailand is working on FTAs with the Gulf Cooperation Council, which comprises Bahrain, Kuwait, Oman, Saudi Arabia, Qatar and the United Arab Emirates, with the Pacific Alliance, which comprises Chili, Colombia, Mexico and Peru, as well as with African countries to open new opportunities and markets for Thai products.
Sanan Angubolkul, chairman of the Thai Chamber of Commerce and Board of Trade, made a 5-point proposal to the government on behalf of the Thai private sector, including the boosting of cross-border trade with neighbouring countries, the alleviation of bureaucratic red-tape to facilitate doing business in Thailand, in line with the e-government policy, the boosting of retail business and the exploration of more markets for Thai exports.
