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Xinhua Silk Road
InfoQuest

Thailand and Japan seek regional partnership for less COVID-19 impact

April 27, 2020


Abstract : This aims at enabling members to suffer less economic impact from COVID-19 through making full use of the rights and interests of the agreement. In addition, the two sides agreed that India should be pushed to rejoin the negotiations.

InfoQuest, (April 24, 2020) -- After the consultation with Mr. Kazuya Nashida, ambassador of Japan to Thailand, Mr. Jurin Laksanawisit, deputy prime minister and minister of commerce of Thailand, said that Japan will cooperate with Thailand on Regional Comprehensive Economic Partnership (RCEP) to ensure the signing of the agreement and its entry into force as soon as possible in 2020. This aims at enabling members to suffer less economic impact from COVID-19 through making full use of the rights and interests of the agreement. In addition, the two sides agreed that India should be pushed to rejoin the negotiations.

In 2007, Thailand signed the Thailand-Japan Economic Partnership Agreement (JTEPA), therefore making Japan the second-largest trading partner. In 2019, the trade volume between Thailand and Japan reached 57.78 billion U.S. dollars, of which the export volume of Thailand to Japan hit 24.56 billion U.S. dollars. The exports mainly include automobiles, equipment and components, processed chicken, machinery and components, computers and components, and plastic products. Thailand's imports from Japan are worth 33.22 billion U.S. dollars, mainly including machinery and components, steel and steel products, automobile equipment and parts, electrical machinery and components, and chemical products. In the first quarter of 2020 (January to March), the trade volume between Thailand and Japan witnesses 13.90 billion U.S. dollars, of which the export volume of Thailand to Japan is 6.06 billion U.S. dollars, and the import volume from Japan is 7.84 billion U.S. dollars.

Besides, Japan is also requested to promote more high-quality Thai fruits to the Japanese market by providing support for 9 Thai fruits, including mango, durian, pineapple, coconut, mangosteen, salak, tamarind, grapefruit and green banana, through various publicity and marketing activities, especially Japanese TV channels directly facing consumers, for example, TV Direct, TV Shop Channel, etc. In addition, flights from Thailand to Japan are requested to expand the export of Thai fruit products by increasing air flight services during the COVID-19 epidemic. The Deputy Prime Minister of Thailand has appointed the Department of International Trade Promotion to coordinate with the Embassy of Japan in Thailand.

Source: InfoQuest, by Phana/Tanawat /Rachada, translated by Xinhua Silk Road

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Keyword: Thailand COVID-19

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