Thailand will be hosting a meeting of ASEAN’s Trade Negotiating Committee for the ATIGA Upgrading Negotiation later this month to further enhance trading between ASEAN countries
The Department of Trade Negotiations (DTN) has announced Thailand will be hosting a meeting of the Trade Negotiating Committee for the ATIGA Upgrading Negotiation (ATIGA TNC) on 29-30 September in Krabi. The aim is to enhance the ASEAN Trade in Goods Agreement (ATIGA) for the current and future international trade situations.
DTN Director General Auramon Supthaweethum said the meeting will focus on the enhancement of supply chain connectivity within the region, which shall yield a higher trading value between ASEAN countries.
ASEAN has long been the biggest trade partner of Thailand, with the 2021 trading value between Thailand and ASEAN countries standing at some 110 billion U.S. dollars, or 20.5% of the country’s total trade.
Thailand is also working to establish new trade deals with high potential markets such as those in Africa and the Middle East, particularly Saudi Arabia, United Arab Emirates, and Egypt, due to the high population size and high purchasing power in these markets.
The DTN aims to establish Joint Trade Committees (JTCs) between Thailand and these countries by next year, making them new markets for Thai exports, particularly food and farm items, and new import sources for manufacturing materials and energy.
Thailand has so far established 5 JTCs in Africa with Morocco, Tunisia, South Africa, Mozambique, and Kenya. The country now has 4 JTCs in the Middle East, with Iraq, Iran, Bahrain, and Israel.