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New Zealand-Thailand FTA deal likely to boost exports

MCOT News, Thailand

New Zealand-Thailand FTA deal likely to boost exports

20 April 2005

BANGKOK, Apr 20 (TNA) - The free trade area (FTA) agreement, to be signed by New Zealand and Thailand soon, is likely to help make exports grow as targeted since various kinds of products will benefit from the deal, according to the KASIKORN Research Center.

The leading think tank said New Zealand’s Prime Minister Helen Clark had paid an official visit to Thailand during 19-20 April. She would witness the signing of the FTA agreement between the two countries, to be effective on 1 July.

It disclosed both countries had also reached three other agreements, to be signed on the same day as that of the FTA. They involve cooperation in visa issuance and tourism, labor, and environment.

The agreements would pave the way for the two countries to forge closer cooperation in the economy and society.

KRC said New Zealand is considered an FTA partner Thailand managed to spend only 7 months (May-November 2004) negotiating for the trade liberalization.

New Zealand is the second country after Australia that had already made the FTA deal with Thailand in a smooth and accurate manner.

Previously, Thailand had reached a partial FTA deal with China and India under which some kinds of product items are liberalized.

Local products that would benefit immediately from the FTA deal with New Zealand include auto and parts, cosmetics products, plastic pellets, machinery and parts, canned and processed fruits.

Under the deal, Thai chefs will be allowed to work in New Zealand. So, it is expected they will help promote the awareness of Thai foods and sweets in the country.

New Zealand’s products that would benefit from the deal immediately are processed woods and products, frozen and processed seafood, and papers. (TNA)