Thailand: Cabinet approves EU FTA talking points
Bangkok Post 5/12/2012
TRADE PACTS
Cabinet approves EU FTA talking points
The framework of the Thai-EU free trade agreement will be scrutinised by parliament as required by the charter before bilateral talks on 17 trade issues can proceed.
Section 190 of the charter provides that a treaty which results in binding agreements on trade and investment budgets for the country be approved by parliament, which will complete its consideration within 60 days.
Yesterday the cabinet agreed on the structure of the negotiations to cover various issues including trade in goods, customs procedures, rules of origin, rehabilitation measures, protections for trade balance, sanitation, trade barriers, and services and investment.
Government spokesman Tosaporn Serirak said the Thai-EU FTA sparked concerns among the public on many issues during the public hearing organised by the Commerce Ministry.
On intellectual property, locals suggested IP protection follow the same level Thailand committed to when it joined the World Trade Organization. The suggestion was aimed at preventing any possible impact on the local farming sector, biodiversity and the poor’s access to life-saving drugs as seed and drug companies push to patent their products.
The public was also concerned about the EU pushing liberal alcohol and tobacco regulations, which could lead to higher consumption among Thais.
But the Commerce Ministry remains optimistic about the FTA, viewing it as an opportunity for Thailand to become the trade and investment hub for European investors in Asean, especially in the automotive, electronics and service sectors.
The EU’s Generalised System of Preferences tariff advantage for Thailand, as well as for many other countries, is slated to end in 2015.
Apart from Thailand, the EU is also negotiating FTAs with Singapore, Malaysia and Vietnam. The ministry feels if it does not negotiate a similar agreement, then it will miss out on investment.
