Bangkok – The Ministry of Commerce is keeping an eye on a possible car tariff cut by the Australian government, believing it would spur the Thai car building industry if the cut were realized.
The Department of International Trade of the Ministry of Commerce, have made known that the Malcolm Turnbull administration is considering cutting tariffs on imported new cars in order to give more Australians access to cheaper vehicles.
Changes to the Motor Vehicles Standards Act come as the Australian car industry comes under increasing pressure. Under the new laws, consumers will be able to import a new car or motorcycle from countries with comparable standards of manufacturing. However, imported vehicles must be no more than 12 months old and have no more than 500km on the odometer.
According to the department, the new regulations will present Thailand with a great opportunity given that Australia is Thailand’s largest car importer.
In 2017, Thailand exported 914.38 billion baht’s worth of cars, parts, and accessories. Apart from Australia, major importers of Thai vehicles are the Philippines, Indonesia, Japan, and China.