Pakistan, Thailand to start 4th round of talks on FTA

YarnsandFibers News Bureau 2016-09-06 14:00:00 – Bangkok

Thai negotiating team lead by Sunanta Kangvalkulkij, deputy director-general of the Commerce Ministry's Trade Negotiations Department will be in Islamabad for the fourth round of talks on trade liberalization. The Pakistani-Thai FTA would be beneficial to both countries and significantly increase bilateral trade and investment.

It would enable Thailand to expand its exports into South Asia as well as other Muslim nations in the surrounding region. Thailand will act as a gateway for Pakistan to penetrate the Asean Economic Community.

The two countries will discuss rules of origin and other issues, such as customs procedures, cooperation in many areas such as sanitary standards, trade remedies, trade facilitation, and technical barriers and laws that should be eliminated to promote trade.

Thailand will ask for Pakistan to open the market for many products including textiles and garments, processed food, sugar, chemicals, petrochemicals and plastics, rubber and rubber products, wood, printing products, electric appliances and automobiles and parts, Sunanta said.

Thailand ships to Pakistan fabrics, textiles, vehicles and parts, air-conditioners and parts, plastics and chemicals. Imports are machinery and parts, musical instruments, processed and semi-processed fishery products, ores and steel.

Thailand enjoyed a surplus of US$734 million (Bt25.4 billion) with Pakistan on two-way trade of $1.01 billion in 2014, similar trade surpluses have been registered since 2010.

In 2014, Thailand's exports to Pakistan reached $874 million. Pakistan is Thailand's second-largest trading partner in South Asia after India, and 46th globally.

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