[UNCTAD] Does LEDC Benefit from a FTA with Thailand?

Written by The Nation Pakistan

In early 2013, the notion of a Pakistan-Thailand Free Trade Agreement (FTA) was proposed. This decision was made in light of Pakistan's "Vision East Asia" program, which was supplemented by Thailand's "Look West" policy, as well as the fact that bilateral commerce between the two nations had for the first time surpassed the billion-dollar threshold. In 2016, Pakistan exported $20.53 billion worth of products, whereas Thailand exported $213.59 billion worth of goods during the same time. The sheer disparity in export quantities between the two countries is a reflection of their respective levels of development. 

Textiles, clothing, cotton, and grains are Pakistan's main exports, whereas mechanical equipment, electrical machinery, and vehicles are Thailand's main exports. Pakistan's manufacturing employment must be protected. At Pakistan's level of development, a country with 207 million people cannot afford to outsource employment, especially at the bottom end of the manufacturing sector. An FTA with Thailand, or any other country, should only be signed if it would result in new employment, exports, and money for the government. What are the advantages of a free trade agreement with Thailand for Pakistan?

The Nation Pakistan reached out to Thailand's delegate but they have declined to comment. In yesterday’s council session, there was a heated discussion between Thailand and the United States whether the Free Trade Agreement should be renamed to Fair Trade Agreement. 

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