Free Trade Agreement (FTA) bolsters Thai vegetable exports to China: Export increased to 96% in the first quarter

Published May 24, 2021

Tridge summary

Thailand's Department of International Trade Negotiations has reported a 96% increase in the export of frozen vegetables to China in the first quarter of 2021, making it the country's number one export market. Other growing Free Trade Agreement (FTA) markets for Thailand include the ASEAN market, South Korea, Hong Kong, India, and Japan. The country is also looking to negotiate more tariff cuts in the Regional Economic Partnership Agreement (RCEP). In 2020, Thailand's export of fresh, chilled, frozen, and dried vegetables reached US $1,006 million, a 16% increase from the previous year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Department of Negotiations points out that the FTA will help export Thai vegetables to the Chinese market. The first quarter of this year rose 96% while the South Korean ASEAN market grew well as well, cassava, chili, a popular product, hoping Thailand to negotiate more tariff cuts in RCEP. On May 24, 2021 Mrs. Ormon Subthawitham Director-General of the Department of International Trade Negotiations revealed that the export of frozen vegetables. Thailand's freeze and dry go to China, which is one of 18 countries that Thailand also has a free trade agreement (FTA) in the first quarter of 2021 (Jan-Mar) worth US $ 471 million. It increased 96% from the same period of 2020 and is the number 1 export market in Thailand. It accounts for 81% of vegetable exports to the world. In addition to China, there are also growing FTA markets such as US $ 30 million (+ 60%) ASEAN, US $ 3 million Hong Kong (+1), South Korea $ 2 million (+ 23%) and India. $ 0.7 million (+ 12%) The key export ...

Source: Prachachat