Director General of Department of Trade Negotiations Discusses Free Trade Agreements and Priorities for Thailand’s Hosting of APEC 2022

On May 5, 2022, the American Chamber of Commerce in Thailand (AMCHAM Thailand) hosted a virtual membership meeting between Mrs. Auramon Supthaweethum, Director General of Department of Trade Negotiations, and AMCHAM members.

AMCHAM Trade and Investment Committee Co-Chair, Nirut Kunnawat of Novegion Consulting and Services, welcomed the Director General and expressed appreciation for the opportunity to learn about impacts of the Regional Comprehensive Economic Partnership (RCEP) agreement and how businesses in Thailand can adapt and maximize its benefits.

During the meeting, the Director General recognized the long-standing trade relationship between Thailand and the US, spanning almost 200 years, making Thailand the oldest US ally in the Asia Pacific. She further mentioned that the US is among Thailand’s top three trade partners, accounting for over 10% of Thailand’s total trade value.

The Director General provided an overview of current and future Free Trade Agreements (FTAs) and the Department of Trade Negotiations’ plan to expand and upgrade FTAs with new partner countries in the next five years. They plan to achieve a target of an 80% ratio of FTAs to total trade. The Director General also presented information on the benefits of RCEP to Thailand, such as improving market access and lowering trade barriers. In addition, she spoke about the utilization of RCEP for Thai importers and exporters, as well as the RCEP Center which provides information related to FTAs, trade statistics, trade policies, and more.

Before concluding her remarks, the Director General highlighted the theme of the APEC Summit this year and roles and responsibilities of the Department of Trade Negotiations in organizing trade meetings, seminars, and symposiums from May 19 – 22, 2022.

Following the presentation, AMCHAM members engaged in an active question and answer session, with questions ranging from RCEP implementation, impacts of Thailand’s climate change commitments on trade to how AMCHAM members can help the Department of Trade Negotiations in handling carbon emissions. The Director General provided thoughtful answers and expressed her desire for continued collaborations with foreign businesses in Thailand.

In his closing remarks, Nirut delivered AMCHAM’s sincerest appreciation to the Director General for providing comprehensive and insightful information on the FTAs and trade meetings in the APEC Summit, and opportunities for the private sector to offer assistance and collaborations in achieving the shared goal of strengthening Thailand’s position as a regional hub for international trade.

About AMCHAM

The American Chamber of Commerce in Thailand (AMCHAM) is an independent, non-partisan, non-profit organization. With over 2,600 members representing over 600 American, Thai, and other international companies, AMCHAM is the leading international business association in Thailand. Member companies have cumulatively invested over 50 billion US Dollars in Thailand and provide more than 200,000 local jobs.

If you would like to learn more about AMCHAM, please visit: www.amthamthailand.com or contact Varsha Wadhwani, AMCHAM Communications Officer, at e-mail varsha@amchamthailand.com.