Thai-Australian trade grew 30 per cent from FTA

CANBERRA, Oct 3 (TNA) - The Thai-Australian Free Trade Agreement brought about a bilateral trade expansion of 30 per cent, according to the Thailand's ambassador to Australia.

Ambassador Bandhit Sotipalalit cautioned, however, that capable trade relationship management is essential if Thailand is to cultivate long-term benefits and not to be in disadvantage.

In 2005 after the Thai-Australian FTA took effect, two-way trade expanded by 30 per cent, amounting to Bt270 billion (about US$7.2 billion). Thailand enjoyed the surplus of about Bt21 billion or 700 million Australian dollars.

The top export item from Thailand to Australia is one-tonne pick-up truck and car parts, worth Bt45 billion (about US$1.2 billion).

Alongside trade, the ambassador said he recently discussed fishing rights with Australia's minister of agriculture, who said he supported granting licenses for Thailand's fishing fleet to operate in Australian waters.

Ambassador Bandhit said that the operators of a fleet of ten Thai ships have made contact to secure licenses.

He said it was an especially timely opportunity in the wake of uncertainties the Thai fleet is facing in Indonesia, as the island nation is reorganising its fishing license granting procedures.

TNA