Open Thai-Peru FTA for 6,000 products

BANGKOK, 13 January 2011 (NNT) – The Commerce Ministry has recently held a seminar on Free Trade Agreement (FTA) with Peru, citing automobile and rubber products will benefit the most.

Department of Trade Negotiations (DTN) Deputy Director General Weerachai Nopsuwanwong said during the seminar that Thailand was prepared to open the first FTA with the Latin America nation. In the first phase, the import tax on 70% of the products, accounting for nearly 6,000 types of goods, traded between Thailand and Peru; will be lowered to 0%. The FTA is expected to take effect by the middle of this year.

Mr Weerachai said Thai export products which would benefit most from the FTA included automobile, electronic and electrical parts, washing machines, and rubber products. As for the import sector, importers of zinc, tin, gemstone, wood,and fishery goods would have good chance to import these products from Peru at much lower prices.