June 11, 2007

Thai-Japan partnership would boost Thailand's seafood exports

The expected implementation of the Thailand-Japan Economic Partnership in September should encourage fishery exports to grow by 5 per cent to 365,000 tonnes this year, The Nation, a Thai newspaper reported.

Japan currently imposes duties on frozen shrimp and processed shrimp of 4.8 percent and 5.3 percent respectively. The new agreement would eliminate the tariff.

The fishery sector's output increased 2 percent to THB 29.38 billion (US$900 million) in the first quarter on-year.

Shrimp and shrimp products accounted for exports worth Bt16.44 billion (US$500 million) or about half the value.

Exports of fish and fish products are expected to drop due to a shortage of tuna.