FTA condition to be revised to minimize loss on Thailand

BANGKOK, 8 March 2010 (NNT) – The council of economic ministers is revising the conditions of the free trade agreements (FTA) already committed with 12 partner countries, to ensure maximum benefits for Thailand.

President of Thailand Trade Representative, Mr Kiat Sittheeamorn, revealed that the economic ministers are looking into all FTA terms, especially those made with Australia which have taken effect for 3 years. He said some of the conditions such as non-tariff barriers should to be revoked while others may need to be added.

Mr Kiat remarked that the ministers’ main concern is on the deal with China, in which Thailand has been suffering a significant loss due to a great quantity of agricultural and industrial products imported from China.