October 18, 2004

Thai Shrimp Farmers Assured of Better Prices

Thailand's Prime Minister Thaksin Shinawatra on Saturday assured local shrimp farmers of better prices, as the government has made some progress in negotiations for a return of tariff privilege from the European Union (EU) under the generalized system of preference (GSP).

''I think prices for our shrimp products would improve because the government has made good progress in trying to get the GSP back from EU,'' said the prime minister.

EU revoked the GSP for Thai shrimps a few years ago. Since the loss of the GSP privilege, Thai shrimps have faced a 14.4 percent EU tariff.