According to Ronnarong Phoolpipat, director-general of the Department of Foreign Trade (DFT), Thai exports reached US$46.18 billion between January and July as a result of FTAs.
The top five FTAs responsible for this amount were:
- Asean Free Trade Area (AFTA): 72.72% of the agreement’s entire value, or U$16.49 billion, was utilized. Major exports under this agreement included sugar, petroleum oils, oils from bituminous minerals, cars for personal mobility (1,500–2,500 cc), and autos for transportation (weighing less than 5 tonnes).
- The Asean-China Free Trade Area (ACFTA) has a total value of $14.26 billion and a 93.97% utilization rate. Fresh durians, synthetic rubber goods, tapioca, sugar, guavas, mangoes, and mangosteens were among the major exports included by this agreement.
- The Japan-Thailand Economic Partnership Agreement (JTEPA) has a utilisation rate of 71.66% and a total value of $3.76 billion. Frozen chicken, shrimp, dextrin and modified starch, wire and cables, light oils, and polyethylene polymer sacks were among the major exports.
- The Thailand-Australia Free Trade Agreement (TAFTA) has a utilisation rate of 60.68% and a total value of $3.34 billion. Cars and other motor vehicles (with diesel or semi-diesel engines), passenger cars with displacements of 2,500 cc and above, air conditioners, cans of tuna, and passenger automobiles with displacements of 1,000 to 1,500 cc were notable exports.
- The Asean-India Free Trade Area (AIFTA) has a total value of $3.08 billion and a 67.44% utilization rate. Brass wires, organo-inorganic substances, radio receivers, air conditioning parts, and polyvinyl chloride or vinyl chloride polymer goods were among the major exports.
Additionally, exports were made to 10 nations, including Japan, China, South Korea, Australia, New Zealand, Singapore, Malaysia, Vietnam, Indonesia, and Myanmar, under the Regional Comprehensive Economic Partnership (RCEP) agreement. These exports had an overall value of US$810.35 million, a rise of 54.22% over the same time last year.
Thailand’s exports have benefited greatly from the 14 FTAs it has with 18 trading partners, which allow exporters to avoid or cut import taxes in their final markets. For exporters to fully take advantage of these rights, it is essential that they comprehend the laws and rules pertaining to the origin of products under these agreements.
