THURSDAY, March 28, 2024
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Ministry to host sixth FTA talk with Turkey 

Ministry to host sixth FTA talk with Turkey 

The Commerce Ministry will host the sixth round of negotiation for a Thailand-Turkey free trade agreement on December 2-4, focusing on market opening and tariffs, said Auramon Supthaweethum, director-general of the Department of Trade Negotiations, today (November 29). 

A conclusion of free trade negotiations is expected next year, she added. 
“The negotiations will centre on market opening, reducing or canceling tariffs on goods from both countries,” she said. “We expect the agreement to comprise 11 articles”.
She said Turkey is a potential market with a population of over 80 million and a strategic location connecting with three continents: Asia, Africa, and Europe.
“This agreement will help boost the combined trade value to US$2 billion next year from $1.42 billion last year,” she said.
“Major Thai products expected to benefit from an agreement include garments, vehicles and components, organic compounds, plastics and plastic products, rubbers and rubber products, boilers, machines, electronic devices, tropical fruits and vegetables, among others".
Turkey is Thailand’s 36th largest trade partner, and the fourth largest market in the Middle East.
In 2018, total trade value between the two countries stood at $1,427 million with $1,082 million in exports and $345 million in imports. 
Main Thai export products to Turkey include cars, equipment and components, air conditioners and components, synthetic fibres and rubbers while main import products from Turkey are chemicals, machine, clothes, accessories, gems, trains, equipment and components,among others.

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