In an attempt to find new markets for Thai exports, the Ministry of Commerce is now looking at Canada as a potential high value export market for quality products. The ministry has set a target for the expansion of Thailand-Canada trade value, to at least 69 billion baht.
Minister of Commerce Jurin Laksanawisit has held talks with the Canadian Ambassador to Thailand Sarah Taylor, during which the Minister of Commerce encouraged Canada to import more farm products from Thailand.
In their discussion, the Minister of Commerce highlighted farm products that suit the Canadian market, from Hom Mali rice, health brown rice, fresh and frozen fruit and vegetables, rubber products, and processed food.
With more than 1,000 Thai restaurants operating in Canada and the popularity of Thai cuisine, the Minister of Commerce has urged culinary schools in Canada to offer Thai cooking courses to help ensure the flavor of Thai dishes, while at the same time encouraging the export of ingredients from Thailand, as well as promoting the image of Thailand, while saying that Thailand is also ready to facilitate more imports from Canada.
On this occasion, the two countries agreed on a target to increase the Thailand-Canada trade value from the 2.3 billion US dollars or around 66 billion baht in 2020. From this figure, Thailand’s exports to Canada accounted for 46 billion baht in value, while imports from Canada were valued at 20 billion baht.
Both sides have acknowledged the benefits of the ASEAN-Canada Free Trade Agreement, which offers around 20% tariff cuts for Thai products. The establishment of the ASEAN-Canada FTA must be agreed upon by all 10 ASEAN member states, with a Commerce Ministers meeting between ASEAN countries and Canada scheduled for September. (NNT)
