Thailand agrees to Asean-Korea FTA

Thailand will be the last Asean country to sign the free trade agreement with South Korea in May, allowing Thai exporters to enjoy benefits three years after the signing.

The signing was delayed as Thailand asked Korea to further open the agricultural and fishery markets, while Korea wanted Thailand to extend the 0% per cent tariffs to 2017.

Foreign Trade Department Apiradee Tantraporn said in 2007, Thailand's exports to Korea were valued at US$3.18 billion while imports totalled $5.72 billion. She expected the trade deficit to narrow after the FTA, as 90 per cent of imports would be exempt from tariffs.

Major beneficiaries are fresh and frozen shrimp and tapioca flour which are normally subjected to 20-450 per cent tariffs.

- The Nation

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Thailand agrees to Asean-Korea FTA

Thailand will be the last Asean country to sign the free trade agreement with South Korea in May, allowing Thai exporters to enjoy benefits three years after the signing.

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