ASEAN works to boost trade to deal with COVID-19 crisis

March 05, 2022 | 20:28

(0) user say

ASEAN members are working on facilitating increased trade, removing trade barriers and reducing transaction costs to deal with the COVID-19 crisis, the top official at Thailand's Department of Trade Negotiations said on March 4.

ASEAN works to boost trade to deal with COVID-19 crisis

ASEAN members are working on facilitating increased trade, removing trade barriers and reducing transaction costs to deal with the COVID-19 crisis (Photo: aseanbriefing.com)

Bangkok - ASEAN members are working on facilitating increased trade, removing trade barriers and reducing transaction costs to deal with the COVID-19 crisis, the top official at Thailand's Department of Trade Negotiations said on March 4.

Department director-general Auramon Supthaweethum made the remarks after attending the 22nd ASEAN Trade Facilitation Joint Consultative Committee (ATF-JCC) via teleconference, local media reported.

She said Thailand has requested additional details from ASEAN members on using trade measures to ensure that the operation will be in line with the agreement and facilitate Thai exporters.

"In 2021, ASEAN improved trade facilitation and the average score increased by 13 percent compared to 2017," Auramon was quoted as saying by the English-language newspaper The Nation.

"Thailand was ranked No. 2 in ASEAN trade facilitation, behind Singapore."

According to Auramon, Thailand has cooperated with ASEAN on operating under Non-Tariff Measures guidelines to remove trade barriers in the region as well.

In 2021, trade between Thailand and ASEAN was worth 110.79 billion USD, up 17.09 percent year on year. Of the total, Thailand’s exports accounted for 65.02 billion USD and 45.78 billion USD were imports, up 17.24 percent and 16.89 percent, respectively.

Major exports included oil, gold, electric circuits, trucks, beverages, air-conditioners and cars, while major imports included oil, electricity, natural gas, voice recorders, electronic components, electric circuits and coal.

VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional