Exports under GSP grow to $7.5 billion in first half of 2011
Thai exports under the generalised system of preferences (GSP) - a set of exemptions to the general trading rules of the World Trade Organisation - reached US$7.5 billion (Bt225 billion) in the first half of the year. This represents a 22.9-per-cent incre
The higher export growth under the GSP showed that Thai exporters are more aware of their privileges, according to the department's deputy director-general, Surasak Riangkrul. Thai GSP exports accounted for 63.14 per cent of the overall value permitted under the scheme, to 44 countries, he said.
Thai exports under the GSP were higher in the first half of this year compared with the past few years, Surasak said.
Under the scheme, Thai exporters have seen the most benefits come from trade with the European Union. Thailand shipped goods worth $4.88 billion to that market under the GSP. Other destination countries for GSP exports include: the United States ($1.76 billion), (Turkey $447 million) and Switzerland ($155.45 million).
Currently, Thailand receives GSP privileges from 44 countries. Surasak urged Thai firms to carefully check their benefits before exporting to ensure they are subject to the lowest possible tariff barriers.
Industrial goods accounted for 82 per cent of export value under the scheme, while farm products accounted for 18 per cent.
GSP exports include rubber tyres; silver ornaments; lenses; air-conditioners; rubber gloves; radial tyres for pickup trucks and passenger cars; canned pineapples; and processed shrimp.
