Japan's decision to revise its import tariff privileges is unlikely to affect Thai exports as the value of shipments under the system is already low, a trade official said. The Thai Foreign Trade Department, however, foresaw minimal impacts, as exports to Japan under the generalised system of preferences (GSP) are minimal, at 0.01% of all Thai exports, according to Thai media. In the first nine months of this year, exports under Japan's GSP were worth $12.79 million, or 0.08% of all Thai exports to Japan worth $15.11 billion, he said. The products applying for GSP privileges currently are rice pasta, followed by plywood, vegetables and fruits. The GSP, a form of support for developing economies, imposes minimal to no duties on selected industrial and other products.

Source: Bangkok Post November 18, 2016 13:06 UTC