NONTHABURI, Dec 16 (TNA) — The Commerce Ministry hopes that Thai exports will pick up as China and the United States have achieved their phase-one trade deal.
Pimchanok Vonkorpon, director-general of the ministry’s Trade Policy and Strategy Office, said China and the US confirmed their agreement on their phase-one trade deal on Dec 13 and the development would improve trade atmosphere.
She said that the phase-one deal would see the US calling off its US$160-billion tariff plan on many Chinese exports including mobile phones, laptop computers, video game players, televisions, radios, monitors and consumer products.
Meanwhile, China agreed to raise its orders for US exports by at least US$200 billion in two years and reduce barriers for its import of services including banking, insurance and securities. China also agreed to refrain from supporting overseas investments to take over foreign technologies and from implementing any currency exchange policy that would unfairly create trade advantage.
Ms Pimchanok said China and the US sides wanted to avoid risks from economic slowdowns. Their economies would improve and consequently help Thailand increase its exports, she said.
Ms Pimchanok still saw opportunities for Thailand to export its products to China in place of US products as the phase-one deal did not require China to cut its tariffs on US products. (TNA)
