Japan Abolished Import Quota Quotas For Shoes And Leather Goods In Thailand

The authority's Thai Farmers' Bank Research Center issued a research report on the nine day, saying that the Thailand Economic Partnership Agreement, which came into force in November 1st this year, will become an important factor to promote the expansion of Thailand's products to the Japanese market and attract more Japanese funds to invest in Thailand.

The agreement will contribute to the future growth of Thailand's economy.

In addition, the appreciation of the Thai currency has hit the price competitiveness of Thailand's exports in the international market, especially the products which rely mainly on domestic raw materials, such as agricultural products, processed food, textiles, clothing and footwear.

Meanwhile, the US economy, which is the main export market of Thailand, has slowed down. The United States abolished the GSP preferential treatment of three export products of Thailand's gold jewelry, color TV and plastic resin, which led to the loss of competitiveness of these exports in the US market.

The center pointed out that after the entry into force of the Thailand Economic Partnership Agreement, because of the agreement, Thailand and Japan will reduce barriers to trade and investment and help promote the growth of Thailand's economy in the rest of the year and in two, 00 and eight years.

First of all, to promote Thailand's expansion of exports to Japan.

Japan's import tariff relief to Thailand products will expand the export of certain Thailand products to Japan, including fresh / processed fruits and vegetables, fresh / processed chicken products, aquatic products such as frozen / frozen shrimps and aquatic products, industrial products such as textiles and clothing, jewelry, footwear and leather, chemical products, petroleum and plastic products.

In addition, Japan has granted preferential tariff quotas for certain Thailand exports, including bananas, fresh pineapples, pork processing products, molasses, dextrin and tapioca starch, and has also eliminated import quota quotas for footwear and leather goods in Thailand.

Second, attract Japanese funds to invest in Thailand.

According to the Thailand Economic Partnership Agreement, Thailand has reduced the import tariffs of certain Japanese products, such as hot-rolled steel plates, food, jewelry, textiles and clothing that Thailand can not produce. With the relaxation of service access and investment restrictions, it will help to optimize Thailand's investment environment and attract Japanese funds to return to Thailand for investment.

In addition, favorable factors supporting Thailand's export trade include good economic growth in emerging market countries and tariff preferences in free trade agreements.

The rapid economic growth of China, India and Vietnam has made their domestic consumption demand and purchasing power increasingly stronger, which has benefited Thailand's export trade to these countries. It is evident from the increasing export of Thailand to these countries.

At the same time, Thailand's exports to some emerging market countries also grew well, such as Arabia, the United Arab Emirates and Iran and other Middle East countries, Indonesia, Russia, Czech and Poland and other Eastern European countries, Mexico and Brazil and Latin American countries and some African countries.

In addition, the free trade agreement reached between Thailand and some countries is also conducive to the expansion of exports of Thailand products to these countries.

Therefore, the Thai Farmers' Research Center expects that Thailand's export trade is expected to grow by fourteen percent to fifteen percent this year. Next year, Thailand's export growth rate will not be less than ten percent.