December 26, 2007

Thailand's trade pact with Japan raises US$330-million exports

The Thailand-Japan free trade agreement that took effect on November 1 boosted Thailand's seafood exports by more than THB10 billion (US$330).

The figures were reported by Apiradee Tantraporn, director-general of the Foreign Trade Department.

She said the department had approved 7,000 requests for rule-of-origin certification of Thai products bound for Japan under the agreement, formally known as the Japan-Thailand Economic Partnership Agreement (JTEPA).

The goods certified were worth US$323 million, or about THB10.6 billion Apiradee said.

Export products that are benefiting from the reduction or elimination of tariffs under the pact include processed shrimp, textiles and processed tapioca starch.

Japan eliminated the 5 percent import tariff on Thai shrimp, textiles and processed tapioca starch after the JTEPA took effect on November 1.