Home | Join | Login | Help | Chinese | GCP | Forum
 
Logistics Zone
Members
Resources
My Jctrans
Welcome jctrans.net!
Resources
   
Focus | News | Exhibition | Policies & Law | Industry Research | Tools Online
Home > Jctrans.net > News > Trade
 
 
Thailand, Japan sign free trade pact
POSTED: 9:35 a.m. EDT, April 4,2007

Thai Prime Minister Surayud Chulanont and his Japanese counterpart Shinzo Abe on Tuesday signed a landmark free trade accord, which proponents here hope will boost bilateral trade but opponents protest in demonstrations.

The signing ceremony was held in Tokyo on the second day of the Thai leader's four-day official visit to Japan.

The Thai Cabinet approved the pact last week after it was debated in the National Legislative Assembly.

The two sides wrapped up talks on the draft accord early last year, but the signing was delayed because of the political turmoil in Thailand that led to the Sept. 19 military coup.

According to the context of the pact released by Thai media, about 97 percent of Japanese exports to Thailand and 92 percent of Thai exports to Japan will be tariff-free within 10 years.

In the agriculture part of the pact, Japan will immediately scrap tariffs on imports of processed shrimp and tropical fruits such as mango, papaya and durian, and halve tariffs on boneless and cooked chicken within five years. It will keep rice tariffs.

About automobiles part, Thailand will cut tariffs on automobiles with engines of 3,000 cc or larger to 60 percent from 80 percent over four years, and consider cuts for vehicles with larger engines. Thailand will also scrap tariffs on auto parts within seven years.

While on steel products, Thailand will immediately scrap tariffs on half of all steel imports from Japan and end tariffs on the remainder within 10 years.

About investor protection, Thailand pledges not to toughen rules for existing Japanese investments. New investments, however,will be subject to the country's controversial currency controls that require 30 percent of all incoming investment to be held by financial institutions for up to one year.

As to Intellectual Property Rights, both countries will strengthen protection for intellectual property rights. Japan assures Thailand that its firms will not unfairly patent genetically modified micro-organisms used in the food and medical industries -- one of the main concerns of Thai opponents of the deal.

On labor section, Japan will allow more Thai cooks to work in Japan by shortening the required minimum work experience to five years from 10, and continue discussions on rules for Thai spa therapists and care workers.

Japan is Thailand's biggest foreign investor and an important export market for Thai products with trade between the two countries valued at 1.65 trillion baht (about 44.1 billion U.S. dollars) during calendar 2006.

In a speech delivered at the Japan National Press Club early Tuesday, Surayud lauded the Japan-Thailand Economic Partnership Agreement, or JTEPA, as "the foundation for a new era of intensified and sustainable friendship and partnership between our two peoples."

"Japanese foreign direct investment has played a pivotal role in Thailand's rapid industrialization," the Thai prime minister said. "It is upon this large-scale foundation of mutually beneficial economic relations that (the agreement) seeks to build."

However, opponents of the agreement criticized the government for not making its terms public.

Some 50 demonstrators gathered Tuesday in front of the Japanese Embassy in Bangkok and burned a copy of the accord to protest the signing of JTEPA. They also demanded that National Legislative Assembly (NLA) members submit a request for the Constitution Tribunal to invalidate the pact.

From:xinhua
Trade>>
Print | Save


RELATED
U.S. hails free trade pact with South Korea (2007-4-3 9:43:00)
Air China Cargo to launch new service to Japan and Korea (2007-4-2 9:11:00)
Navy Helicopter Crashes in Thailand, 9 Killed (2007-3-24 8:10:00)
Tourists between China and Japan hit five million last year (2007-3-18 14:17:00)
Government urged to wrap up FTA deal (2007-2-20 11:46:00)
South Korean, Japanese Refiners Forge Strategic Alliance (2007-1-23 13:17:00)
Test Experiment of Hybrid Transfer Crane Starts at Tokyo Container Terminal (2007-1-21 9:48:00)
Taiwan's Dream Beauty' Rice Plantation to Export to Japan (2007-1-17 13:31:00)
GM Thailand opts for CEVA to provide logistics (2007-1-17 9:24:00)
Tokyo shares open higher on 2007 first trading day (2007-1-4 11:25:00)
Ford expects to fall soon to No. 3 spot: report (2006-12-22 15:56:00)
Myanmar-China border trade fair opens in Myanmar (2006-12-19 9:50:00)

Today's Top News
 
Weekly Roundup

Freight Forwarder Korea
Forwarder in Japan
 
 
Tools Online
Cargo Tracking
Chinese Port Charge List
World Port
Country Code
Shipping Dictionary
Unite Conversion
                More>>
 
 
 
 
Home - Shipping - Airfreight - Integration - Member - Resources - My Jctrans - Links
About Us - Help - Contact Us
嶄猟利
Privacy Policy - Terms of Use
Copyright Notice 2000-2007 Jctrans.com Corporation and its licensors. All rights reserved.