Hopes high for WTO Doha Round to end this year with FTAs signed

BANGKOK, 1 February 2011 (NNT) – The Commerce Ministry is anticipating a conclusion of the World Trade Organization (WTO) Doha Round within this year as well as the signing of free trade agreements (FTAs).

Speaking of her attendance at the WTO Ministerial Conference in Davos, Switzerland, Commerce Minister Pornthiva Nakasai said FTAs on agricultural and industrial products as well as services were the topic of discussion among 25 attending member nations out of the total of 153 members. After the matter had been debated for 9 years, the Minister disclosed that participants this year showed more acceptance of one another’s suggestions.

The meeting came up with a three-phase guideline for concluding the Doha Round within this year. Each member country would first need to lay down a trade framework and related details by the end of March before reconvening to finalize the matter in July and signing the trade agreements in December.

If successful, Thai products in the agricultural, industrial and service sectors as well as some items in the electronics category would enjoy trade benefits. Developed countries would be obliged to lower tariffs on industrial goods from 25-35 percent to no more than 8 percent, allowing for higher profits.