Exporters to gain from new Asean-China FTA
MORE THAN 3,000 products being exported from Thailand to China will have better market access after the upgrading of the Asean-China Free-Trade Agreement to facilitate more trade, service, and investment growth, according to Commerce Minister Apiradi Tantraporn.
The comment came after the National Legislative Assembly recently ratified the ACFTA amendments, after the leaders of Asean and China proposed to upgrade and modernise the pact late last year.
The latest version of the ACFTA will come into effect on May 1.
Apiradi said the adjustment of the pact focused on the rule of origins, which after implementation will enable more than 3,000 Thai goods to have better access to the Chinese market.
"Trade and investment should grow after the recent agreement by both sides to eliminate technical trade barriers and relax some customs procedures for increasing flexibility in promoting more trade growth," she said.