Thursday, July 29, 2021

business

Asean-Canada FTA expected to boost Thai GDP by 255bn baht


Thailand’s Trade Negotiations Department on Monday revealed progress in talks over an Asean-Canada free trade agreement (FTA) that is expected to boost Thai GDP by 255 billion baht.

Thai trade negotiators met virtually with their US and Canadian counterparts on June 14-15 to discuss the framework of the Asean-US Trade and Investment Agreement and the scope of the Asean-Canada FTA.

Progress was made in extending the Asean-Canada FTA to areas such as labour, the environment and state enterprises, department deputy director-general Sunart Nithi-Uthai reported.

Results from the talks will be presented to the Asean-Canada Economic Ministers Meeting in September so that FTA negotiations can begin this year, he added.

The Asean Secretariat’s study of the Canada FTA estimates it would boost Thailand's GDP by 1.97 per cent or US$7.967 billion (about 254.944 billion baht). Meanwhile, Asean GDP would rise by an estimated 1.6 per cent or $39.361 billion (1.26 trillion baht), while Canada’s GDP would increase by 0.3 per cent or $5.104 billion (163.328 billion baht).

Published : June 21, 2021

By : The Nation