The Thai cabinet has approved a proposed free-trade agreement (FTA) with the EU set to commence in 2015 amid worries on its impact to Thai businesses. The bill will be subject to parliamentary and public scrutinisation before negotiations begin, a spokesperson of Prime Minister Yingluck Shinawatra’s office said, because of mounting worries from business leaders on the effects the agreement will have on drug patents, agricultural seeds and alcohol imports.
Thai private companies have been urged to invest more in foreign countries, in preparation for the ASEAN Economic Community, which is less than three years away. Thai outbound investment was the topic of discussion at the Fiscal Policy Office’s Symposium 2012, held at the Amari Watergate Hotel in Bangkok on 13 September 2012.
Thai-German Products Plc (TGPRO) hopes to quadruple its annual revenue to about 4.5 billion baht after regional integration under the Asean Economic Community from 2015 paves the way for the SET-listed stainless steel pipe maker to make full use of its monthly production capacity of 4,000 tonnes.
Schneider Electric, the global specialist in energy management, launched its 7th annual Schneider Electric Challenge 2011.
Two influential bodies, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) and the Joint Foreign Chambers of Commerce in Thailand, will together meet members of the new Cabinet to propose their ideas for boosting the economy.
The EU Commission has agreed upon the proposal with conditions that the 100% inspection shall be fully implemented by 15 March 2011 onwards and, most importantly, the problem shall “NOT” be intercepted, upon arrival at all EU ports, over 5 consignments within one year otherwise the EU Commission will initiate banning procedure. That means a very tiny margin of error could be found to those 16 vegetables originated from Thailand.
European Union’s decision to roll over the “Generalised System of Preferences” (GSP) for another two years will benefit Thai manufacturers, particularly those in the automotive, transport, lens and air-conditioners, according to the Foreign Trade Department.