Thailand and Australia Agree to Boost Bilateral Trade and Investment

[snoop1130]

 

BANGKOK (NNT) - Thailand and Australia have agreed to pursue a strategic economic partnership, to boost bilateral trade and investment and expect to sign the deal next year.

 

Thailand’s Commerce Minister Jurin Laksanavisit said, after a teleconference with Dan Tehan, Australia’s minister for trade, tourism and investment, that Australia is keen to forge a strategic economic partnership with Thailand, in addition to the existing Thailand-Australia Free Trade Agreement (TAFTA).

 

According to Mr. Jurin, the strategic economic partnership is another form of trade and investment relationship which is deeper than an FTA. Thailand initially proposed seven areas for the new partnership. They comprise processed agriculture, focusing on food, tourism, healthcare, education, e-commerce, the creative economy and others, such as energy and joint ventures.

 

He said Australia pledges to speed up the conclusion of Thailand’s proposals and, once agreed, the country will invite him to sign the deal there, possibly next year.

 

-- © Copyright NNT 2021-08-06

 

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[smedly]

so if agreed that should make imported food from Australia a fraction of the price it is now 

[realfunster]

I think an honest and transparent implementation of the existing FTA by a certain party (you can guess who...) would be an important first step towards a deeper relationship.

 

Going against their usually protectionist mindset, there are now more and more of these FTA and foreign trade stories reported every day. The Thai economy must really be in serious trouble and they are desperately looking for some solutions to kick-start economic activity.

 

Unfortunately, this is partly the result of the best part of a lost decade from an economic perspective with very few strategic economic developments of note, other than taking the unsustainable and short-sighted option of wringing every single last baht out of the Thai tourism industry.....

 

[dinsdale]

Thai rice in Australia cheaper and Australian wines in Thailand even more expensive. 

Edited August 6, 2021 by dinsdale

[HappyExpat57]

With so few able to work, what does Thailand have to offer in trade?

[Forza2002]

These FTA's are a win, win for Thailand. The Govt imports wine/cheese for SFA and then sells for a nice 2-300% mark-up in Thailand. Cheap wines that are used for cooking in Australia sell for upwards of 500 baht over here. Cheese prices are crazy compared to Oz or the UK...

[Artisi]

3 hours ago, smedly said:

so if agreed that should make imported food from Australia a fraction of the price it is now 

In your dreams.

farang rich - have many money, you like, you pay. 

[JomtienRay]

Well good luck with this one..

If the FTA is any guide, it will be "more of the same"..

ONE WAY MONEY for THAILAND...

As an example, when the FTA was mooted 10 years or so ago, many of us Aussie expats we're excited that the exorbitant price of Aus wine and beef and other foodstuffs would come down.

Initially, after much publicity and complaining, wine DID come down in price.  For a  about 6 months.. and then the Thai Govt implemented a "local" tax, that effectively doubled and/or tripled the Aus wine prices..

Meanwhile, all duties on Thai imports were removed in Australia, and sales of Thai products increased substantially.. this is reflected in the positive Thai balance of payments .

ONE WAY MONEY for THAILAND...

I think this might be history repeating itself, with more opportunities for the Thai partner to extort.. ????????????????✔️????????????

[Artisi]

4 minutes ago, Forza2002 said:

These FTA's are a win, win for Thailand. The Govt imports wine/cheese for SFA and then sells for a nice 2-300% mark-up in Thailand. Cheap wines that are used for cooking in Australia sell for upwards of 500 baht over here. Cheese prices are crazy compared to Oz or the UK...

But farang have money..

Edited August 6, 2021 by Artisi