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November 2, 2007

Japan, Thailand enact free trade agreement

Japan and Thailand on Thursday enacted a pact that is to remove tariffs on almost all trade between the two nations in the next 10 years.

Under the free trade agreement, Japan was expected to lift tariffs on mangoes and shrimp and ease immigration regulations for chefs from Thailand. Thailand agreed to reduce taxes on Japanese cars and other products.

The agreement, which was signed in April, was also intended to encourage investment in Thailand by Japanese manufacturers.

Japan also has free trade agreement with Singapore, Mexico, Malaysia and Chile, but Thailand is Japan's biggest trading partner among the five nations.

Japanese Foreign Minister Masahiko Komura and his Thai counterpart, Nit Piboonsongkram, attended a meeting on the accord Thursday in Tokyo, the Kyodo News agency said.

Courtesy Bangkok Post 

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