TWN Info Service on Free Trade Agreements

16 October 2006

THAI NEWS Agency
October 14, 2006

Minister Krikkrai outlines FTA policy

Commerce Minister Krirkkrai Jirapaet said that free trade area (FTA) agreements with Australia and New Zealand are based on mutual benefit, and held them up as example for future negotiations with the US and Japan.

Mr Krirkkrai said that the FTAs signed with the two Pacific countries by the former government of prime minister Thaksin Shinawatra were based on equal benefits.

The FTA agreements signed with China and India, also by the previous administration, were aimed at reducing tariffs, he said. For example, the FTA signed with China is involved in reducing tariffs on vegetables and fruit while it reduces tariffs on 83 items of goods traded between Thailand and India.

Instructions have been given to the Ministry's Trade Negotiations Department that any FTAs initiated by the previous government which are pending signing and which proved genuinely useful to the people would
continue to be supported, he said.

In addition, he noted that concerned parties will be invited to briefings on upcoming FTA negotiations with Japan and the United States as they must also be approved by the National Legislative Assembly.

On the regional level, Thailand must cooperate with other members of the Association of Southeast Asian Nations in order to enlarge the markets, he said.

Pridiyathorn Devakula, deputy prime minister and finance minister, is scheduled to present revised policies to the Commerce Ministry on Monday.
(TNA)