InfoQuest (August 15, 2019) -- Deputy Prime Minister and Commerce Minister Jurin Laksanawisit, together with officials from the Department of Trade Negotiations (DTN), met with the delegation of the US-ASEAN Business Council (US-ABC). The delegation, the largest ever, consisted of 40 representatives from 47 companies, including top U.S. companies which made investments in Thailand, such as Chevron, Cisco, HP, Merck, Stripe and VISA, Amazon City, Dow, Ford, and Google. The US-ABC made this courtesy visit, hoping to become an important partner in supporting Thailand's economic goals and promote economic cooperation between the private sector in the U.S. and Thailand.
During the meeting, the two sides exchanged views on what the U.S. private sector can do to support the latest policy of Thai Ministry of Commerce. In particular, Deputy Prime Minister Jurin Laksanawisit proposed the policies to drive the development of modern economy such as digital economy and e-commerce, as well as policies to boost Thailand's trade, investment and export, including those aiming at the existing market, new market and boarder market.
Mr. Jurin pointed out at the meeting that negotiations on the Regional Comprehensive Economic Partnership (RCEP) between the 16 member states are pushed forward smoothly, and are expected to conclude by the end of this year. The RECP covers trade and investment plan for half the world's population. In addition, this year, Thailand plans to push ahead with talks on new free trade agreements (FTAs) with Britain and other countries.
For Thailand, there is still much work to be done, including trade facilitation, Certificate of Origin (CvO) or Geographical Indication (GI) GI, facilitation of trade preferential rights, investment cooperation guide, reform of business facilitation, revision of foreign investment additional list, protection of intellectual property rights, promotion of innovation, etc.
The deputy prime minister held discussions with companies at the meeting, hoping that American companies would attach importance to the cooperative partnership with Thailand, create benefits for Thailand and use more Thai agricultural products in production. For example, relevant companies can use rubber from Thailand as an important raw material for tire production, and press ahead cooperation in contractual agriculture, where agricultural production is planned according to contracts signed with companies. Moreover, both sides discussed the issues to provide internships and employment opportunities for vocational school students to promote the development of education, especially to cultivate students with specialized skills that meet the needs of enterprises so as to create jobs and increase incomes.
Source: InfoQuest, by Tanawat Suayaem / Rachada / Kasamarporn, translated by Xinhua Silk Road.
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