KINGDOM SEES BT11.4 BILLION IN FDI FROM 5 PARTNERS

       Thailand gained Bt11.4 billion in foreign direct investment from Australia, New Zealand, India, China and Japan thanks to free-trade agreements.
       Due to the global economic slump, combined FDI under Thailand's investment-promotion privileges from those five countries was Bt11.4 billion in the first half of the year, down 25.39 per cent from Bt15.28 billion in the same period last year.
       In addition, the number of projects was slashed 40.7 per cent to 64 projects in the same period.
       The Commerce Ministry today will submit for the Cabinet's acknowledgement the Kingdom's export and import value with those five trading partners under FTAs.
       A Government House source said officials should step forward with trade talks to extend market liberalisation. For instance, FTAs that Thailand signed with Australia and New Zealand should be aimed at opening the market more to services, competition and government procurement and revising measures for sensitive products.
       In addition, the Thailand-India FTA should concentrate on extending cooperation on the trade in services and investment, plus tariff elimination for remaining goods. So far, the two countries have signed an FTA focused on the early-harvest programme, covering 82 items for tariff reduction.
       The source said China preferred to hold trade talks with Asean as a whole rather than bilateral talks with each member. As a result, Asean should focus more on opening more market trade in services and the revision of trade in goods.
       The Japan Thailand Economic Partnership Agreement should place greater consideration on import restrictions and other import barriers and open up more to service and human-resource exports.
       The Kingdom's total export value to those five countries jumped 33.5 per cent to US$6.02 billion (Bt203 billion) in the first half of the year, while import value increased 8.4 per cent to $1.61 billion.
       The source said Thailand was gradually obtaining benefits from those trading partners, as tariffs in some countries gradually declined. However, the FTA's low tariffs will boost investment, particularly from Japan, and see a shift of some heavy industries, such as autos, electrical appliances, electronics, steel and steel products, to Thailand.