Commerce ministry backs Asean-EU trade talks
Bangkok Post | 30 October 2007
Commerce ministry backs Asean-EU trade talks
Commerce Ministry has given its support for talks on free trade between members of the Association of Southeast Asian Nations (ASEAN) and the European Union (EU).
Siripol Yodmuangcharoen, permanent secretary for Commerce, said during a seminar on Tuesday that his ministry fully supports high level talks between the two groups, to be held in late November and another meeting at an official level in January.
Mr. Siripol said he believed the ASEAN-EU free trade area (FTA) will benefit Thailand, an ASEAN member, as tariffs imposed by the EU would become lower to the benefit of Thailand and other ASEAN members as they could export more agricultural products to the European market.
Also, Thailand will be able to export more boiled chicken to EU, he said.
Under the Thai constitution, agreements made between the two groups must be approved by the National Legislative Assembly (NLA). Mr. Siripol said he foresaw no problems.
Both sides have agreed earlier on setting up a joint working group to examine the feasibility of establishing an ASEAN-EU free trade area and position future ASEAN-EU economic cooperation.
ASEAN ministers have expressed their interest in the EU generalised system of preferences (GSP) for countries in ASEAN and said they hoped the EU would apply this programme soon to benefit developing countries.
Meanwhile, Chana Kanaratanadilok, deputy director-general of Thailand’s Trade Negotiations Department, said Thai-Indian FTA talks had made headway as both sides had agreed to increase the number of goods traded between the two countries to enjoy lower tariffs, he said, not less than 5,000 items as compared to 82 items now.
Mr. Chana said he hoped agreement of the two countries would be ratified before the end of 2007 after it is approved by NLA.
Currently, bilateral trade between Thailand and India amounts to around US$4 billion annually and the amount would exceed US$5 billion next year after the agreement comes into force. (TNA)
