Comprehensive Thai media reported on November 29 that the Thai Ministry of Commerce plans to expand the Chinese market through the free trade agreement (FTA). For Thai Farmers and enterprises processing agricultural products and food, this is a good opportunity to use the FTA to increase the trade share of overseas markets. This is in line with the policy of the Ministry of Commerce to improve the export capacity of Thai enterprises in order to expand exports to the global market, especially Thailand’s FTA partners.
The Thai Ministry of Commerce plans to encourage enterprises to use the free trade agreement to expand their trade share in overseas markets and increase export opportunities, especially to the Chinese market. Enterprises can make full use of the advantages brought by the China ASEAN Free Trade Agreement. China has abolished import tariffs on some agricultural products from Thailand, such as food, agricultural products and processed agricultural products. The regional comprehensive economic partnership agreement (RCEP) will enter into force on January 1, 2022. Enterprises can use the agreement to expand the export of Thai products to RCEP member countries.
In cooperation with the expert committee, the Thai Ministry of Commerce selected 20 entrepreneurs of exported food and agricultural products to participate in this year’s projects, such as cashew nut processed products, fried bananas, coconut processed products, dried mango, dried aloe, cookies, jam, crispy rice cakes, sauce and curry powder. After that, the 20 entrepreneurs will participate in the training camp to learn how to use the free trade agreement to promote exports; Develop business plans, expand China’s online and offline markets, and understand consumer behavior in the Chinese market. Finally, the business plan selection will be conducted. The five winning entrepreneurs will participate in the online business matching activities with Chinese importers and can sell products on the e-commerce platform in the Chinese market.
From January to October this year, Thailand’s exports of food, agricultural products and processed agricultural products to China totaled US $10.2 billion, an increase of 56.3%. The main export products are fresh, refrigerated and frozen fruits; Cassava products; Chilled and frozen chicken; Beverages and rice, etc.
Source: Economic and trade window of the Consulate General in Kong Jing
Post time: Dec-07-2021