Latest news with #DepartmentofForeignTrade
Bangkok Post
41 minutes ago
- Business
- Bangkok Post
DFT to add items to watch list
The Department of Foreign Trade (DFT) is considering increasing the number of items on the watch list of exported products to the US to 65 items from 49 at present. Arada Fuangtong, director-general of the DFT, said to prevent circumvention in relation to products exported to the US, the department is the sole authority able to issue certificates of origin (Form C/O) for goods on the watch list, currently covering 49 items and set to increase to 65. The updated list will be enforced once finalised. Moreover, the DFT is working with the Department of Industrial Works, along with provincial commercial offices to strictly inspect factories, focusing on high-risk items. Collaboration with the Customs Department is aimed at preventing and mitigating risks related to false declarations of Thai origin. Furthermore, the department is working with industry groups to educate exporters on the new procedures for issuing Form C/O. Regarding trade remedies for the second half of this year, the DFT is reviewing the renewal of implementation of anti-dumping (AD) measures concerning four products: citric acid from China; cold-rolled steel sheet from China, Taiwan and Vietnam; steel pipes from Vietnam; and high-carbon wire rods from China. The DFT has initiated an investigation into the potential implementation of new AD measures for three products: aluminium frames from China, cold-rolled stainless steel from Vietnam and H-beam structural steel from China. It is also considering using anti-circumvention (AC) measures on two products, namely steel pipes and cold-rolled steel sheet from China. Mrs Arada said the US's reciprocal tariffs and increased import duties pose export challenges for many countries and some may reroute exports via third countries. To mitigate the impact of surges in imports due to trade diversions, Thailand may apply safeguard (SG) measures by imposing additional import duties on all imports, she said. The department is also working with the Trade Policy and Strategy Office and private associations to monitor high-risk products that may flood the Thai market. If necessary, SG measures would be implemented, with investigation timelines shortened from the legally mandated 270 days to ensure prompt action. Currently, Thailand enforces AD measures on 22 products from 22 countries, primarily in the steel sector, while Thailand faces AD measures from 18 countries covering 73 cases, including steel, chemicals and rubber. Thailand does not currently use countervailing duties or SG measures but faces such measures from multiple countries concerning copper wire, plywood and sugar.
Bangkok Post
a day ago
- Business
- Bangkok Post
Cambodia spat expected to cost border trade B60bn
If Thai-Cambodian border checkpoints remain closed until the end of the year, Thailand is expected to lose more than 60 billion baht in border trade, according to the Department of Foreign Trade (DFT). As a consequence, total border trade for this year is estimated to grow by only 1-2%. Arada Fuangtong, director-general of the DFT, said if the border remains closed from June to December, the estimated loss in export revenue could surpass 60 billion baht. This figure is based on last year's total border trade value of 175 billion baht between the two countries, with exports accounting for 142 billion, an average of 11.8 billion per month. She said reports indicated activities at border checkpoints have diminished, with businesses on both sides temporarily closing. Provincial commerce offices along the border found many Thai and Cambodian shops have been closed since border control measures were implemented on June 7. The export sectors hit hardest include vegetables, fruit and various consumer goods. Exporters are exploring alternative shipping routes, such as coastal shipping through ports in Trat province or shipping industrial goods via Laem Chabang port. Border imports from Cambodia tallied 32.7 billion baht last year, averaging 2.72 billion per month. The largest volume of items included cassava and scrap metal needed for industrial processing. If the border with Cambodia remains closed, Mrs Arada said Thailand may need to import more from Laos, though that trade has increased transport costs and longer transport times. During the first five months of this year, Thai exports to Cambodia totalled 146 billion baht, an 8.7% year-on-year increase. Border exports were valued at 63.1 billion baht, a 9% increase. Imports from Cambodia amounted to 21.7 billion baht, up 7.1% year-on-year, with border imports tallying 17.7 billion baht, a 20% increase. She said the border closure will impact the country's total border trade target this year. The original goal was 3% growth, with trade valued at 1.87 trillion baht. However, due to the closure, border trade growth is now anticipated to tally 1-2% from previous year's total of 1.82 trillion baht, according to the DFT.
