ID :
365298
Tue, 04/28/2015 - 10:39
Auther :

Thailand 87%-prepared for AEC

BANGKOK, April 28 (TNA) - The Thai government, through the Ministry of Finance, is preparing for the formation of the ASEAN Economic Community (AEC) by the end of this year, with the preparation havng been 87 per cent completed, 10 per cent ahead of average preparation of the whole 10-member Association of Southeast Asian Nations (ASEAN). Thai Deputy Finance Minister Wisudhi Srisuphan told journalists of the update on Monday, noting that his ministry has prepared for AEC through four strategies. Firstly, his ministry is facilitating regional trade, investment and financial services in order to promote Thailand as a joint market and production base in the region. Secondly, his ministry is completely restructuring national tax bases and further developing infrastructure to enhance national competitiveness. Thirdly, his ministry is further developing national economy based on the equality policy by, for instance, providing the grass roots and local small and medium-sized enterprises (SMEs) with equal access to financial services to ensure fair national economic development. Fourthly, his ministry is supporting free trade with countries outside ASEAN for the sake of regional economic integration with the global economy. Wisudhi said, with the strategies, Thailand is foreseen to be able to cope well with future challenges in the region. The Thai deputy finance minister pointed out although AEC would reduce or revoke tariffs and, thus, cut revenues, it would increase the trade bargaining power of member states. Meanwhile, Aree Chaweewannamat, a specialist on international customs cooperation at the ministry's Customs Department, told reporters that all ASEAN member countries have already cut their tariffs to zero per cent, except the 5 per cent-rate on four product items, including cut flowers, coffee, potatoes and coconut meat. (TNA)

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