The trade privileges when you import food products from Thailand.
Hello, In this article we will tell you more information about the food product that import from Thailand.
Many of you who have already imported Thai products, may understand about the trade privileges between ASEAN which Thailand is one of the members that has signed a trade agreement or FTA, but for the newcomers who have imported products from other countries except Thailand may wonder what it is and what benefits you will receive.
FTA stands for Free Trade Area or Free Trade Agreement, which involve cooperation between at least two countries to reduce trade barriers and tariff; also set the high tariff for the non-member countries. Therefore, we basically can reduce the cost of our products both way of importing and exporting among member countries because of the lower tariff which lead us to have a competitive advantage in the market. Meanwhile, the customer will have a variety of choices as the price and the quality of the products that they want.
Moreover, FTA between ASEAN and Australia and New Zealand have been effective on 12 March 2010.
Thailand in 2017, the 85.82% of products have been reduced the tariff to zero (In 2020 the number will be increased to 98.8%.)
Australia, the 96.0% of products have been reduced the tariff to zero ( Within 2020 the number will be increased to 100%)
New Zealand, the 90.1% of products have been reduced the tariff to zero ( Within 2020 the number will be increased to 100%)
- the Service trade, Thailand is obliged to open the market for foreign investors to hold no more than 49% of the investment. Also,there are no restrictions on investment liberalization for all members.
Ministry of Finance announcement regarding Exemption of customs duties and tariff reductions for ASEAN-Australia-New Zealand Free Trade Area (10 November 2017)
As you can see from these trade privileges, you can import some Thai products that is duty free or very low tariff which can also benefit for exporting products to the United States.
If you are interested to import products from Thailand and need a personal assistant to give you advices about the Thai products as your requirements, please do not hesitate to contact us!
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