Thailand-Australia trade relations remain strong

BANGKOK, June 15 (TNA) - Despite the May 22 bloodless coup in Thailand, trade relations between the kingdom and Australia remain strong, said Thailand’s Commerce Ministry’s adviser Ampawan Pichalai. Ampawan said Thailand and Australia have enjoyed warm relations more than 60 years while the two countries have also signed several agreements on trade cooperation. They include Thailand-Australia Free Trade Agreement (TAFTA) and the Thailand-Australia Business Council. Combined trade value between Thailand and Australia during the first four months this year amounted about 4.39 billion U.S. dollars, representing 2.9 per cent of Thailand’s total trade value. Thailand has enjoyed a trade surplus against Australia during the past five years. She added the TAFTA agreement will enable Thai small and medium-sized enterprises to export more to Australia after the latter opens its market wider for Thai services and investment. Investment in the kingdom would also increase because the country is strategically located in the heart of mainland Southeast Asia. (TNA)