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Trade Board back FTA with Japan

31
Mar '07
Analysts believe that if the proposed Thai-Japan FTA is approved exports to Japan would swell over US $1 billion in one year.

The Board of Trade of Thailand, the Federation of Industries and the Bankers Association have also supported this agreement, saying that it will develop technology and promote economy.

''We have forecast the value this year to rise by 6 percent and fetch at least $17.5 billion without the trade agreement. But an additional $1 billion can be earned once the agreement goes into effect,'' Pornsil Patchrintanakul, Deputy Secretary-General of the Board of Trade informed.

Thailand's exports to Japan in 2006 stood at $16.43 billion, 13 percent of country's entire exports of $129.74 billion.

Industry experts are sure that this deal will be beneficial for textile and garment sectors as the duties on capital goods imports will be lower.


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