Official Oman-Iran trip achieves goals

Bangkok, 8 February 2016 (NNT) – The Deputy Prime Minister for Economic Affairs has reported on the successes of his recent trips to Oman and Iran to foster trade ties.

Deputy Prime Minister Somkid Jatusripitak has made known that he and his delegates were able to negotiate major sales of rice and rubber as well as other goods and have initiated talks on Free Trade Agreements (FTA) and industrial investment.

Minister of Commerce, Apiradee Tantraporn, let on that in Oman, apart from success in achieving Thailand’s goal of fostering energy ties, the team of delegates was also able to generate interest in investment in Thailand’s service and tourism industries. Oman has established a committee to study forging an FTA with Thailand alongside 6 other nations that include Saudi Arabia, Kuwait, the United Arab Emirates, Qatar and Bahrain.

In Iran, the Thai officials were able to expand cooperation on trade and investment in areas such as processed food, Halal food, chemicals and digital equipment. Thailand and Iran also agreed to work together in developing small and medium enterprises and made progress in creating a Joint Trade Commission to reduce trade obstacles. The commission's first sitting is likely to be hosted in Thailand in the middle of this year.

Discussions held by private sector representatives reinstated rice trade from Thailand to Iran, which were previously put on hold due to sanctions against the country. Overall, Thai sellers struck deals to sell 300 thousand tons of rice and 20 thousand tons of pararubber, or 5.3 billion baht worth of goods to Iran. Up to 1.7 billion baht worth of other products, such as fashion items and household goods were also sold during the trip.


-- NNT 2016-02-08

Somkid negotiated sales of rice and rubber - now who would have thought a trade delegation would accomplish?

But somehow unlike the Thai government, I suspect the Iranians did not pay above market price. But the Thai government isn't saying what prices were paid nor when delivery is scheduled.