Connect with us

Economics

Commerce Ministry targets Canadian market to export Thai premium rice

Thailand and Canada have acknowledged the benefits of the ASEAN-Canada Free Trade Agreement, which offers around 20% tariff cuts for Thai products.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – In an attempt to find new markets for Thai exports, the Ministry of Commerce is now looking at Canada as a potential high value export market for quality products.

Loading...

The ministry has set a target for the expansion of Thailand-Canada trade value, to at least 69 billion baht.

Deputy Prime Minister and Minister of Commerce Jurin Laksanawisit has held talks with the Canadian Ambassador to Thailand Sarah Taylor, during which the Minister of Commerce encouraged Canada to import more farm products from Thailand.

In their discussion, the Minister of Commerce highlighted farm products that suit the Canadian market, from Hom Mali rice, health brown rice, fresh and frozen fruit and vegetables, rubber products, and processed food.

With more than 1,000 Thai restaurants operating in Canada and the popularity of Thai cuisine, the Minister of Commerce has urged culinary schools in Canada to offer Thai cooking courses to help ensure the flavor of Thai dishes, while at the same time encouraging the export of ingredients from Thailand, as well as promoting the image of Thailand, while saying that Thailand is also ready to facilitate more imports from Canada.

On this occasion, the two countries agreed on a target to increase the Thailand-Canada trade value from the 2.3 billion US dollars or around 66 billion baht in 2020. From this figure, Thailand’s exports to Canada accounted for 46 billion baht in value, while imports from Canada were valued at 20 billion baht.

Both sides have acknowledged the benefits of the ASEAN-Canada Free Trade Agreement, which offers around 20% tariff cuts for Thai products. The establishment of the ASEAN-Canada FTA must be agreed upon by all 10 ASEAN member states, with a Commerce Ministers meeting between ASEAN countries and Canada scheduled for September.

Information and Source
Reporter : Tanakorn Sangiam
Rewriter : Tarin Angskul
National News Bureau & Public Relations :
http://thainews.prd.go.th

Source link

Comments

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

Avatar

Published

on

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

Loading...
(more…)

Continue Reading

Economics

50:50 campaign may not get immediate extension

National News Bureau of Thailand

Published

on

logomain

Loading...

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.

Source link

Continue Reading

Economics

Customs Department Considers Measures to Help SMEs

National News Bureau of Thailand

Published

on

logomain

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).

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,955 other subscribers

Latest

Trending