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Thai Export Benefiting from the Realization of Trade Liberation between ASEAN-China

Date:2018-01-25 15:01:29

By Fruit Expo Committee
By means of opportunities from ASEAN, Guangdong has imported more than 80% of the fruit from Thailand since 2010. Thai Prime Minister, Abhisit, visited Guangzhou Jiangnan fruit wholesale market, China's largest fruit and vegetable wholesale market, inviting Chinese guests to taste the Thai bananas. As a professional fruit fair in South China, Guangzhou International Fruit Expo(Fruit Expo 2018) is located in Guangzhou, Guangdong,which is born against this huge market.

The Thai Ministry of Commerce pointed out that the ASEAN-China Free Trade Agreement is come into force in 2018. That ASEAN-China completely realizes the trade liberalization will increase the opportunities for Thai goods to export to the Chinese market. In the meantime, in virtue of the opportunity from ASEAN-Hongkong Free Trade Agreement, the Ministry of Commerce will reach more trade and investment exchanges with China through Hongkong.
Chudima, the Vice Minister in Ministry of Commerce of the Kingdom of Thailand, pointed out that in 2004, the bilateral trade between ASEAN and China had achieved tariffs reduction, more than 90% of goods enjoying tariffs reduction. From 2018, ASEAN-China will completely implement trade liberalization with 0-5% tariffs reduction on sensitive commodities. The commodities enjoying tariffs reduction include coffee, animal fur, cotton and so on. Thailand goods enjoying tariffs reduction from China include tobacco, coffee, cotton, etc. Moreover, Thailand will provide tariffs reduction for some commodities, such as wheat flour, juice, sports shoes, toys, mirrors, etc.
In addition, she said that the realization of trade liberalization between ASEAN and China will promote that the number of commodities exported from Thailand to China will increase, and the bilateral trade is expected to reach $120 billion in advance. From January to November in 2017, the bilateral trade between Thailand and China was $67 billion, which will continue to rise.
Thai businessmen must be prepared to grasp more trade opportunities from the ASEAN-Hong Kong Free Trade Agreement come into effect on January 1, 2019. By then, Hong Kong will reduce its tariffs on all commodities to 0%. With the help of  the great opportunity, Thai businessmen can focus on the Chinese market through the HKSAR, for HKSAR plays an important role in the implementation of the Belt and Road Initiatives in China.