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Thailand Expects to Complete Free Trade Agreement with Pakistan This Year


snoop1130

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BANGKOK (NNT) - Thailand’s Commerce Ministry expects that Thailand will complete discussions on a free trade agreement (FTA) with Pakistan this year.

 

Department of Trade Negotiations (DTN) Director-General Auramon Supthaweethum said only one out of 13 items was left to be negotiated. The department believes that the FTA with Pakistan will help boost the Thai economy by 0.18 to 0.32% or between US$200 million and $800 million in value.

 

She pointed out that the FTA will also help turn Pakistan into a production base for South Asian, Middle Eastern and Chinese markets, as Pakistan has policies which support investment in over 22 special economic zones.

 

According to the DTN, the sector which will benefit the most from the FTA is auto-parts, in which Thailand already holds a one-fifth market share in Pakistan. Pakistan is also a large, attractive market with some 30 million consumers and has abundant natural fishing resources which will be beneficial for Thailand’s seafood industry.

 

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7 minutes ago, mfd101 said:

Wow! Quite a coup!

Be carefull about tossing the word "coup" around. It doesn't take much to trigger one here.

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3 hours ago, joebrown said:

I wonder whether Pakistan understands Thailand's interpretation of 'Free Trade'?

The question might be asked in both directions, I suspect.

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On 7/20/2021 at 9:05 PM, snoop1130 said:

Thailand’s Commerce Ministry expects that Thailand will complete discussions on a free trade agreement (FTA) with Pakistan this year.

The important word here is complete. So that could mean anything from immediately (hardly unlikely) to five years. I know Thailand needs some good news but I wouldn't start swinging from the lampshades just yet with this news statement.

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