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Thailand-China sign deal promoting Thai fruit export

National News Bureau of Thailand

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BANGKOK (NNT) – With seasonal fruit about to hit the market, including durian, rambutan, and mangosteen, the Thai-Chinese Chamber of Commerce has singed an agreement with CCIC Thailand to provide better traceability service for Thai fruit exported to China, following a new traceability requirement for all imported farm products into China.

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With this agreement, CCIC Thailand as the local office of China’s largest quality assessment and traceability services provider, will help with legal procedures, as well as the requests for health and hygiene certificate, and compliances to additional regulations for certain fruit.

The Thai-Chinese Chamber of Commerce President Narongsak Puttapornmongkol said Thai fruit products have often been subjected to a lengthy customs clearance at China, however the new service provided by CICC Thailand will help shorten this process to no longer than 3 days, as product information can be traced back from a scan of a QR code. This streamlined process will be beneficial to Thailand’s export, especially fresh produce.

The export value of fruit products from Thailand to China in 2020 has grown by 39.43% at about 2.9 billion US dollar, despite the impacts from COVID-19 pandemic. The value of durian export alone last year is worth about 1.5 billion US dollar, a whopping 77.57% growth. These major growths have been contributed by the services provided by CCIC Thailand, who in the last year helped processed the export of durian, mangosteen, and longan worth about 8 billion baht to China. These services are expected to help increase the export of fresh fruit to China, albeit depending on the harvest volume.

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Economics

The Future of Asia: greener but with a public and private debt hangover

The COVID-19 pandemic has been a perfect storm, destroying jobs, worsening poverty and inequality, and creating a public and private debt problem—especially for countries and firms already in fragile financial health beforehand

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The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance.

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50:50 campaign may not get immediate extension

National News Bureau of Thailand

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BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.

The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.

Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.

The campaign has already been extended once, with the current end date set for 31st March.

The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.

The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.

Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.

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Customs Department Considers Measures to Help SMEs

National News Bureau of Thailand

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BANGKOK (NNT) – The Customs Department is seeking ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, as such measures are hurting small and medium-sized enterprises (SMEs).

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