The Thai Chamber of Commerce in China (TCCC) has urged Thai exporters to be prepared for fiercer competition in Chinese markets under a new zero-import-tariff policy but says it could also be a good opportunity for them.
TCCC vice-president Paichit Wiboonthanasarn said China has started enforcing zero-import-tariff measures for developing countries from Sunday, December 1.
Paichit said the policy was apparently aimed at countering US government plans to heighten import tariffs – especially by the new administration under President-elect Donald Trump.
Paichit said the zero-tariff policy would make China’s leadership in the international arena more prominent and would expand its economic networks.
Currently, he said, Thai exporters were already enjoying a low rate of tariffs under the China-ASEAN Free Trade Agreement.
The zero tariff would provide both a challenge and an opportunity for Thai exporters, Paichit said.
He said while Thai exporters would face fiercer competition from other developing countries, the government could help exporters. For example, the government could allocate a budget for marketing campaigns for Thai products to expand their market in China.
He said Thai exporters must get better prepared with information on markets in China and must register their brands for exports to China.
“All groups of Thai products will have the opportunity to enter Chinese markets. As China’s economy recovers, the purchasing power of Chinese people will increase,” Paichit said.