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Comprehensive Thai media reported on November 23 that the Thai Ministry of Commerce intends to expand overseas markets through a free trade agreement (FTA)
.
.
The delegation of the Ministry of Commerce of Thailand communicated with members and farmers of local banana processing cooperatives, and Banana International Food Co.
, Ltd.
, to understand the export situation, and conduct research on using FTA to enter foreign markets, including broadening marketing channels, building brands and developing packaging Design
.
At present, certain success has been achieved, and the export of processed banana products to the Chinese market has increased
.
, Ltd.
, to understand the export situation, and conduct research on using FTA to enter foreign markets, including broadening marketing channels, building brands and developing packaging Design
.
At present, certain success has been achieved, and the export of processed banana products to the Chinese market has increased
.
Thai Banana International Food Co.
, Ltd.
is a manufacturer of processed bananas under the brand name "Chip & Chill".
The raw materials are sourced from various production areas across the country and the production capacity is 3000 kg per day
.
Taking advantage of the free trade agreement to expand the export market to China, since China has signed a free trade agreement with ASEAN, no tariffs are levied on processed banana products exported from Thailand
.
At present, the company’s products are also sold in the Thailand Pavilion opened at Beijing Daxing Airport, and online stores have also been opened on China’s large e-commerce platforms, namely Taobao and Pinduoduo.
Now orders continue to increase, and monthly income exceeds 1.
64 million baht
.
, Ltd.
is a manufacturer of processed bananas under the brand name "Chip & Chill".
The raw materials are sourced from various production areas across the country and the production capacity is 3000 kg per day
.
Taking advantage of the free trade agreement to expand the export market to China, since China has signed a free trade agreement with ASEAN, no tariffs are levied on processed banana products exported from Thailand
.
At present, the company’s products are also sold in the Thailand Pavilion opened at Beijing Daxing Airport, and online stores have also been opened on China’s large e-commerce platforms, namely Taobao and Pinduoduo.
Now orders continue to increase, and monthly income exceeds 1.
64 million baht
.
From January to September this year, Thailand’s export of processed banana products to the global market was US$4.
26 million, an increase of 43% over the same period last year, and the export value to the bilateral markets of the Free Trade Agreement was US$850,000, an increase of 49%.
The main export Markets such as the United States, the United Kingdom, Australia, China, Canada, and Japan
.
Among Thailand's free trade agreement partners, except for ASEAN countries, China, Australia, New Zealand, Chile and Peru, which no longer impose tariffs on processed bananas in Thailand, only India imposes 30% tariffs and South Korea imposes 36%
.
According to the Regional Comprehensive Economic Partnership Agreement (RCEP), South Korea is expected to reduce tariffs on processed bananas in Thailand.
In the 15th year after the agreement comes into effect, sugar-contained bananas are expected to have zero tariffs.
As for processed banana products in vacuum packaging, wait until the first 15 years.
Zero tariffs are expected to be achieved in 20 years
.
26 million, an increase of 43% over the same period last year, and the export value to the bilateral markets of the Free Trade Agreement was US$850,000, an increase of 49%.
The main export Markets such as the United States, the United Kingdom, Australia, China, Canada, and Japan
.
Among Thailand's free trade agreement partners, except for ASEAN countries, China, Australia, New Zealand, Chile and Peru, which no longer impose tariffs on processed bananas in Thailand, only India imposes 30% tariffs and South Korea imposes 36%
.
According to the Regional Comprehensive Economic Partnership Agreement (RCEP), South Korea is expected to reduce tariffs on processed bananas in Thailand.
In the 15th year after the agreement comes into effect, sugar-contained bananas are expected to have zero tariffs.
As for processed banana products in vacuum packaging, wait until the first 15 years.
Zero tariffs are expected to be achieved in 20 years
.
Thailand is now the world's seventh largest exporter of fruits , and the number one exporter of tropical fruits such as fresh durian, mangosteen and longan
.
From January to September this year, Thailand’s exports of fresh, refrigerated, and frozen fruits and dried fruits amounted to US$5.
165 billion, an increase of 52% over the same period last year, of which exports to free trade agreement partners amounted to US$4.
998 billion.
An increase of 54%, accounting for 97% of total fruit exports
.
.
From January to September this year, Thailand’s exports of fresh, refrigerated, and frozen fruits and dried fruits amounted to US$5.
165 billion, an increase of 52% over the same period last year, of which exports to free trade agreement partners amounted to US$4.
998 billion.
An increase of 54%, accounting for 97% of total fruit exports
.
Thailand’s fruit exports have increased in countries as follows: China US$4.
34200 (an increase of 81%); Malaysia US$72 million (an increase of 129%); Indonesia US$50 million (an increase of 106%); South Korea US$36 million (an increase of 41%); Japan $22 million (increased by 9%)
.
The main export fruits and their growth rates, for example, fresh durian increased by 65%; fresh mangosteen increased by 15%; fresh longan increased by 54%; fresh mango increased by 53%
.
34200 (an increase of 81%); Malaysia US$72 million (an increase of 129%); Indonesia US$50 million (an increase of 106%); South Korea US$36 million (an increase of 41%); Japan $22 million (increased by 9%)
.
The main export fruits and their growth rates, for example, fresh durian increased by 65%; fresh mangosteen increased by 15%; fresh longan increased by 54%; fresh mango increased by 53%
.
Currently, there are 12 free trade agreement partners, namely China, Australia, New Zealand, Chile, Peru, Brunei, Singapore, the Philippines, Indonesia, Malaysia, and Myanmar.
Six countries, namely Japan, South Korea, India, Laos, Cambodia and Vietnam, have also exempted most of Thailand’s tariffs on fruit products
.
Six countries, namely Japan, South Korea, India, Laos, Cambodia and Vietnam, have also exempted most of Thailand’s tariffs on fruit products
.
In addition, the RECP agreement will come into effect in 2022.
Thailand will promote partner countries to increase the opening of fresh fruit and processed fruit markets on the basis of existing free trade agreements, including urging South Korea to reduce durian import tariffs.
The current tax rate is 36%.
In the tenth year (2031) after the agreement comes into effect, it will be reduced to zero, and the import tariffs on fruits such as mangosteen, guava, papaya and orange will be gradually reduced to zero
.
There are also dried durian, dried longan, and dried papaya.
The current tax rate is 36%.
15 years after the agreement takes effect, zero tariffs are expected to be achieved
.
Thailand will promote partner countries to increase the opening of fresh fruit and processed fruit markets on the basis of existing free trade agreements, including urging South Korea to reduce durian import tariffs.
The current tax rate is 36%.
In the tenth year (2031) after the agreement comes into effect, it will be reduced to zero, and the import tariffs on fruits such as mangosteen, guava, papaya and orange will be gradually reduced to zero
.
There are also dried durian, dried longan, and dried papaya.
The current tax rate is 36%.
15 years after the agreement takes effect, zero tariffs are expected to be achieved
.
