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Japan-Thailand Economic Partnership talks postponed

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Negotiations between Thailand and Japan on the implementation of the Japan-Thailand Economic Partnership Agreement (JTEPA) due to be held late April will be postponed after the gigantic quake and tsunami hit Japan, a senior Thai commerce ministry official said.

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Srirat Rastapana, director-general of Trade Negotiations Department, said planned talks on the implementation of JTEPA which would focus on the progress of free trade and tariff reductions, in which more than 6,000 goods items have been reduced since late 2008, will be postponed after the tsunami hit Japan on March 11.

Officials of both countries had also planned to discuss problems on tariff reductions for some Thai agricultural products and Japanese industrial goods during the talks, Mrs Srirat said.

The new date will be set later after the Japan government is able to resolve the disaster crux, she said.

Mrs Srirat said her department would accelerate the providing of knowledge to the public on the ASEAN Community, scheduled to be established in 2015, particularly to small – and medium-sized enterprises, and agriculturalists.

via JTEPA talks postponed after tsunami hit Japan.

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Trade

Thailand to increase rice exports to 6 million tons this year

National News Bureau of Thailand

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BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.

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Singapore

UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

Singapore’s role as a hub for UK companies, whether as exporters or investors accessing Southeast Asia’s and broader Asian dynamic economies, was elevated by the new UK-Singapore trade agreement (UKSTA) which came into effect on 1st January 2021.

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UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

There was much controversy, before and after the United Kingdom’s (UK) Brexit from the European Union (EU), in talk of it adopting a free trade and manufacturing model similar to Singapore’s.

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Economics

Cross-border trade is expected to grow up to 3-6%

National News Bureau of Thailand

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BANGKOK (NNT) – Thailand’s cross-border trade is expected to recover to growth of 3-6% this year, helped by COVID-19 vaccine distribution and the global economic recovery.

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Foreign Trade Department Director-General Keerati Rushchano said cross-border trade, which includes transit trade, is likely to generate 1.36 to 1.40 trillion baht, up from 1.31 trillion baht in 2020.

According to Mr Keerati, the key risk factor that may derail border trade growth is the political chaos in Myanmar that will weaken purchasing power there and cause a delay in goods transport.

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