Issue 47
The National Legislative Assembly (NLA) has given the green light for Thailand to eliminate customs tariffs on 524 IT-related goods from July 1, under a WTO accord.
Commerce Minister Apiradi Tantraporn said on March 21 that 524 items will have their tariffs cut over a phased timescale. The 324 initial products will include printer components, electric motors and filters for movie projectors. This tariff reduction will open opportunities to export more products to the US and EU.
“This will enhance the competitiveness of Thai businesses. It will also help attract foreign investors to Thailand, and support the establishment of super clusters for the production of electronics and digital products,” said Tantraporn.
Thailand’s IT industry has attracted foreign direct investment (FDI) worth 70 billion baht (US$1.98 billion), and employs more than 65,000 people.
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