Thailand Negotiating FTA With Peru

Thailand negotiating FTA w/ Peru

Thailand will press forward in negotiating the free trade area (FTA) agreement with Peru, hoping to promote the export sector and create gateways to Brazil and Argentina.

Sub-Lieutenant Vichien Insook, the Department of Foreign Trade Officer, spoke about the FTA negotiation between Thailand and Peru, saying an all-inclusive document is currently being prepared, and it will be attached to the main document. The Foreign Trade Department is ready to propose this issue to the Cabinet, and they will have to approve all the details of this deal so the agreement can be signed soon. The negotiation with Peru may take at least three months, and both countries have to cooperate on this matter. In addition, the Customs Department has to issue an announcement on this case and reduce the tax rate quickly.

However, Sub-Lt. Vichien said Peru is not a large country, and the trade between the two nations is modest. However, Thailand would like to import certain raw materials while exporting technological and automotive products. Furthermore, this agreement can open up more trade opportunities with Peru's neighbouring countries, namely Brazil and Argentina.

Source: Thai National News Bureau Public Relations Department - 04 November 2006