The free trade agreement is comprehensive and covers trade in goods and services, investment, intellectual property rights, agriculture, competition policy, etc. The agreement does not apply to Japan`s sensitive agricultural products, such as rice, wheat and dairy products. The agreement also did not extend to products such as tobacco. Thailand`s foreign trade continued to grow in November for the ninth consecutive month, sending 11M17 to 10.0 percent… Read more rationalization of most tariffs between the two trading partners, Japan`s free trade pact with Thailand will come into force on November 1, said the government October 2. The controversial agreement was overturned in April after months of uncertainty over Japan`s unease over the military coup and street protests in Bangkok. Thai activists have also expressed concern that the free trade agreement could make their country a landfill for Japan`s toxic waste. Thailand will immediately lift tariffs on half of Japan`s steel imports. The rest will be duty-free until 2017. By 2017, about 92% of tariffs on imports from Thailand to Japan and 97% of tariffs on imports from Japan to Thailand will be released. Bilateral trade negotiations with the United States herald a new era after President Trump`s historic visit to Asia on November 5-14,… Read more Thailand saw a trade deficit in December 2017 for the second time this year (after one in July 2017) due to larger-than-expected imports, which… The Japan Thailand Economic Partnership Agreement or JTEPA is a free trade agreement signed by the two countries in April 2007.
One of the expected benefits was to eliminate tariffs on more than 90% of their bilateral trade. In accordance with the provisions of the agreement, persons operating under the Thai Foreign Business Act of B.E. 2542 (1999) who meet the conditions set out by the JTEPA may apply for a certificate of operation from the Thai Ministry of Business Development. For its part, Japan, the world`s second-largest economy, is targeting an increasing number of bilateral free trade agreements, while global negotiations on liberalization are failing. It has trade pacts with other countries such as Malaysia, Singapore and the Philippines. 97% of Japanese exports to Thailand and 92% of Thai exports to Japan will be duty-free within ten years, which corresponds to the agreement on merchandise trade to 99.51% of imports from Japan in 2006, or 99.49% of the total value of imported Japanese products, which was reduced , removed or eliminated from Japan.