Thailand: Free Trade Agreement recovers from crisis; pushing agricultural exports for 7 months with 64 negotiations, exceeding 10 million

Published Sep 9, 2021

Tridge summary

Thailand's agricultural exports to 18 countries with which it has free trade agreements reached a value of 11,664.8 million US dollars during the first half of this year, a 33% increase compared to the same period in 2020. This growth is largely due to the strong market in South Korea, with significant increases in export values also seen in Myanmar, India, Chile, and China. The Department of International Trade Negotiations credits the free trade agreements for providing Thai agricultural products with a pricing and tax advantage in the global market. However, the department also cautions that the recovery of major export markets and the improvement in global economic conditions could be threatened by the ongoing COVID-19 pandemic, emphasizing the need for back-up plans and risk management strategies.

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

Original content

The Department of Negotiation reveals that agricultural exports to 18 countries, FTA negotiators during the 7-month period of 64, exceeded 11,664.8 million US dollars, an increase of 33%, with strong growth in the South Korean market. Confident! Export trend continued to expand after major market economies recover Date 9 September 2021 Mrs. Oramon Sapthaweetham Director-General of the Department of International Trade Negotiations disclosed data on exports of agricultural products (agriculture, fishery and livestock) to 18 countries with which Thailand has free trade agreements (FTAs), namely ASEAN, Australia, New Zealand, China, Japan, South Korea, India, Peru, Chile and Hong Kong. It was found that the total value of 11,664.8 million US dollars, representing 75.75% of Thailand's total agricultural exports, grew 33% compared to the same period of 2020 for the export market. Expansion is South Korea +268%, Myanmar +91%, India +85%, Chile +68%, China +66%, Malaysia +51%, ...

Source: Prachachat