BANGKOK(NNT) – Known for its good taste and quality, Thai fruits have gained much popularity in foreign countries.

Tax waivers from FTAs for exports to partner countries have raised the value of fruit exports in the first 10 months of this year to at least three billion U.S. dollars, making Thailand the 6th largest fruit exporter in the world.

The Department of Trade Negotiations Director General Auramon Supthaweethum, said today that Thai fruit exports continue to expand despite global economic challenges affecting the export sector.

This is partially due to more health-conscious consumer behavior, and tax exemption benefits under FTA agreements with partner countries, particularly China, Australia, New Zealand, Chile, Peru, and Hong Kong, where all import duties on fresh and frozen Thai fruit are waived.

In the first 10 months of 2019, the value of Thai fruit exports reached 3.213 billion U.S. dollars

Meanwhile, other FTA partners such as Japan, South Korea, India, and Malaysia have started lowering or waiving import taxes on most types of fruit as well.

In the first 10 months of 2019, the value of Thai fruit exports reached 3.213 billion U.S. dollars, showing 41 percent growth year-on-year.

This makes Thailand the world’s 6th largest fruit exporter, following Spain, the Netherlands, Mexico, the United States, and Chile. The most popular exported Thai fruit are tropical fruit such as durian, mangosteen, and longan, of which Thailand is the largest exporter in the world.

Consumers’ shifting preference towards a healthy diet provides a golden opportunity for Thai farmers and companies to expand fruit exports to foreign markets, but this will require farmers to maintain and even improve the quality of their produce, which will then be fast tracked for export under the FTA agreements.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

What you need to know about the Regional Comprehensive Economic Partnership

Although India pulled out at the last minute, China and 14 other countries agreed on the world’s biggest trade agreement – the Regional Comprehensive Economic Partnership (RCEP).

Global merchandise trade exceeds pre-COVID-19 level

Global merchandise trade exceeds pre-COVID-19 level, but services recovery falls short. UNCTAD nowcasts show that trade in services has not yet reached its pre-pandemic level, while merchandise trade is projected to have surpassed it by 15%.

What is RCEP, the world’s biggest trade deal?

RCEP – which has been over a decade in the making – will eliminate tariffs on 91% of goods as well as introduce rules on investment and intellectual property to promote free trade.