Thai exporters cashing in on free-trade deals

The Foreign Trade Department reported that Thai exports under FTAs were worth US$39.94 billion (Bt1.2 billion) last year, from $34.15 billion in 2010. Exports with FTA privileges accounted for 61 per cent of total export value.

Surasak Riangkrul, the department’s deputy director-general, said that the rising value of exports under the FTA showed that more Thai exporters are becoming aware of FTA benefits.
“It is a good sign that Thai exporters have learned to reap tariff privileges under the free-trade pacts. Thai exporters should learn to utilise the export privileges so that they will have a level playing field,” said Surasak.
He pointed out that Thai exporters have reaped the maxi-mum benefit from the Asean Free-Trade Agreement (Afta) with exports under this FTA reaching $15.18 billion last year.
More exporters are benefiting from Afta as Thai exports have grown largely to the Asean market, which is becoming the country’s largest export market, Surasak said.
Other free-trade pacts that Thai exporters have benefited from include the one with Australia, with exports under FTA accounting for 90.82 per cent of total export value from Thailand to the market, followed by China 84.29 per cent, India 74.61 per cent, and Japan 71.18 per cent.
Surasak said the some exporters could not benefit from the FTAs as they did not comply with the rules of origin. The department will continue to arrange seminars this year to educate exporters on how to benefit from the FTAs, he added.