According to former Secretary of OSBC Thailand Prasert Tapaneeyangkul, the implementation of a free trade agreement in the region of ASEAN (Association of Southeast Asian Nations) will be excellent for the sugar industry in Thailand because it can enhance the atmosphere for investment and the promotion of trade in the country. Moreover, regional integration will give Thailand a preferential tariff over Brazil in the access to other ASEAN markets. “Our main importer is Indonesia. If the free trade agreement works, they care buy more from Thailand and less from Brazil. So come (FTA stands for free trade), as soon as possible, ” he joked.
In Tapaneeyangkul’s view, countries like Brunei, Laos, Cambodia and Vietnam will also be greatly benefited by the agreement and have increased production. “In 2015, when there are no more frontiers, investment, technology transfer, human capital and financial capital will magnify the business of sugar and ethanol in this region,” he said.
The free trade agreement between the countries of ASEAN takes effect in 2015.