NONTHABURI, Nov 30 (TNA) – Realising that Turkey has market potential while Thailand could widen its market in that country, the two countries will hold Free Trade Area (FTA) negotiations in the Thai capital next week, said Oramon Sapthaweetham, director-general of Trade Negotiations Department.
Thailand plans to enlarge bilateral trade with Turkey around 40.15 per cent in 2020, a jump from 1.427 billion U.S. dollars in 2018.
The upcoming sixth round of FTA talks between two countries will be held between December 2- 4 and will focus on opening markets of the two nations wider and waiving trade tariffs, said Mrs. Oramon.
Initially, it is hoped that this FTA agreement would comprise 11 chapters including goods origin, customs procedures, hygiene measures and technical trade obstacles, she said.
Currently, Turkey has about 80 million population while some 40 million foreign tourists visit that country per year. It is located in fine strategic area and is considered a gateway to three continents — Asia, Africa and Europe.
If the FTA between Turkey and Thailand could be concluded, the two-way trade could be widen to 2 billion U.S. dollars in 2020 from 1.427 billion in 2018, the target set by the two governments earlier.
Mrs. Oramon said Thailand would gain from this FTA as the kingdom could export more textiles, automobiles and parts, chemical products, plastic and plastic products, rubber and its products, machinery, electronic equipment, tropical vegetables and fruits. (TNA)
