Gold From Australia Did Not Result In Thai-Aus FTA

FOREIGN TRADE NEGOTIATION DEPARTMENT INDICATED THAT GOLD IMPORTS FROM AUSTRALIA DID NOT RESULT FROM THAI-AUSTRALIA FTA

The Foreign Trade Negotiation Department has insisted that the importation of gold from Australia was not a result of the Thailand-Australia free trade agreement (FTA).

Foreign Trade Negotiation Department chief, Ms. Aphiradee Tantraphorn (อภิรดี ตันตราภรณ์), said that in the first 11 months of 2005 Thailand imported 67 billion baht of gold. Of this amount 35 billion baht was from Australia, which was an increase by 18 billion baht from the same period in 2004. However, she said this did not come due to the Thailand-Australia Free Trade Agreement, because the tariff for gold importation was already at 0% on July 1st 2003.

Thai-Australian trade amounted to 239 billion baht in the first 11 months of year 2005. Of this number, 117 billion baht was exported from Thailand and 122 billion baht was imported from Australia. If figures from gold trading was excluded, Thailand would have had a 30 billion baht trade surplus over Australia.

Source: Thai National News Bureau Public Relations Department - 26 January 2006