EU postpones withdrawal of trade privileges for Thailand

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BANGKOK, July 16 – The European Union (EU) decided to postpone withdrawal of Thailand’s Generalised System of Preferences (GSP) import privileges from 2013 to 2014 according to Nuntawan Sakuntanaga, Director-General of Department of International Trade Promotion.

As a result, Thai entrepreneurs have more time to adjust. They must develop their products in terms of variety and quality to create reliability rather than focusing on price competition.

Moreover, Thai exporters must find new markets such as Africa, Latin America, Asia, China, Japan and the 10-nation Association of Southeast Asian Nations (ASEAN).

The department has also supported clothing production for exports.

In the first four months of this year, Thailand exported textiles worth US$2.3 billion. This year, the country is expected to export textiles valued at US$8.6 billion, an increase of five per cent year-on-year. Thailand’s major export markets are the US, Japan and China.