THAILAND: Two-Year Mini-Free Trade Agreement Signed with Hainan
30 September 2021
Thailand has signed a Mini-Free Trade Agreement (Mini-FTA) with mainland China’s Hainan province. Set to run for two years – from 20 August 2021 to 20 August 2023 – it is hoped the agreement will see the trade volume between the two parties increase to THB12 billion (US$359 million).
Under the terms of the deal, the two are committed to expanding collaboration in five key areas:
- Improving trade information exchange and the introduction of other measures aimed at supporting small and medium enterprises (SMEs), such as access to investment and the establishment of trade representation
- Promoting business linkage opportunities and boosting the innovation and creativity of SMEs through product development and the expansion of opportunities in third markets;
- Facilitating trade activity via trade shows, seminars, trade delegations and business matching
- Expanding trade value for food, agricultural and industrial products
- Promoting e-commerce and online business matching services
While Hainan is the first Chinese province that Thailand has signed a mini-free trade agreement with, Thai officials have indicated that they are keen to sign similar deals with other provinces, most notably Gansu in the northwest of mainland China.
- Mainland China
- Southeast Asia