November 28, 2003

Thailand To Remove Tariffs On Corn, Soybeans From Neighboring Countries

Thailand's Finance Ministry will ask the Cabinet at its weekly meeting Tuesday to approve an exemption of import tariffs on corn, soybean and six other agricultural commodities from Cambodia, Laos and Myanmar, according to a paper prepared for the Cabinet and seen by reporters Friday.

The move to eliminate import duties of those commodities is in line with economic cooperation strategy agreed to by Thailand, Cambodia, Laos and Myanmar, according to the paper.

The tax exemption will be applied for imports of soybeans, corn, castor oil, potatoes, cashew nuts and sweet corn from Cambodia, Laos and Myanmar, according to the paper. Imports of ground nuts from Laos and eucalyptus from Cambodia will also be exempted from import duties, the paper said.