Thai-Chilean FTA wins parliamentary endorsement
Thailand's Parliament today endorsed the Thai-Chilean free trade agreement, which once taking effect in the fourth quarter, should benefit Thailand's export and investment.
The Commerce Ministry is now preparing for the signing, to pave way for the activation of the agreement in the fourth quarter.
According to the ministry, at least 90 per cent of goods traded by the two countries would be immediately subjected to a zero tariff rate. The tariffs of the remaining 10 per cent would be gradually reduced.
For Thailand, exports to benefit from the lower tariffs include automobile, processed fish, polymer, electrical appliance and construction materials. Chile is also expected to see an increase in bronze and iron ore exports.