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News Admin
 
Date
 07/10/2020
News Provider
 Nur Aisha Abd. Wahab
News Source
 The Star Online
Headline
 Thailand promotes orchid exports under FTAs with 17 countries

The Star Online (07/10/2020) - BANGKOK (The Nation/ANN): The Commerce Ministry’s Department of Trade Negotiations (DTN) is promoting the export of orchids under free-trade agreements (FTAs) with 17 countries so the plants are exempted from import tax.

“The Covid-19 crisis has resulted in a hike in international transport costs, which has affected Thai exports of orchids, ” said DTN director-general Oramon Subthaweetham.


“The department aims to help orchid growers and exporters by utilising FTAs with 17 countries including China, Japan, South Korea, Australia and New Zealand so import tax on Thai orchids can be exempted, compared to the normal rate of 60 per cent in countries we don’t have FTAs with, such as India, ” she said.


“Thai orchids have big potential in international markets due to high tolerance to changing weather and a lower cost of growing, especially orchids of the Dendrobium family, ” she added.


“As for countries that have yet to sign a FTA with us, the department will help by finding suitable trade partners as well as promoting Thai orchids in those markets to increase local awareness.”


In the first seven months of 2020, Thailand exported more than $30 million (Bt935.6 million) worth of orchids, $24.7 million from flowers and $5.6 million from plants, DTN statistics show.


Some 61 per cent of total exports, or $18.6 million, are from countries that have a FTA with Thailand.


In 2019, total orchid exports were valued at $85.5 million (81.6 per cent from flowers and 18.4 per cent from plants).


The biggest export markets of 2019 were the United States (21 per cent), Japan (20.8 per cent), Asean (15.8 per cent), China (7.2 per cent) and the Netherlands (5 per cent). - The Nation/Asia News Network


Read more at https://www.thestar.com.my/aseanplus/aseanplus-news/2020/10/07/thailand-promotes-orchid-exports-under-ftas--with-17-countries



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