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Thailand earns surplus on agro exports

 


February 25, 2008

THAILAND-AUSTRALIA/TRADE
Thailand earns surplus on agro exports

The free trade agreement (FTA)  between Thailand and Australia saw latter’ export of agricultural products almost doubled in 2007 from the previous year, Thai News Agency quoted  a senior agricultural and cooperatives ministry official as saying on Saturday.

According to Apichart Jongskul, secretary-general of the Office of Agricultural Economics, Thai agri-exports have increased since the FTA accord between the two countries came into effect on January 1, 2005.

Thailand enjoyed trade surpluses on agricultural products exported to Australia amounting to Bt2.4  billion, Bt3.8 billion and Bt7.5 billion in 2005, 2006 and 2007 respectively, he said.

Major agricultural products exported to Australia were canned tuna, rice, frozen shrimp, pet food and tropical fruits.

Effects from opening the Thailand-Australia FTA are expected includes beef, pig intestines and powdered milk, which the kingdom imports at higher levels now from Australia but outside the FTA agreement, said Mr. Apichart.

The increase in imports of these products from Australia substituted imports which would have been made from others among Thailand's trading partners.


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