Thailand is set to benefit tremendously from the elimination of import duties on automobiles and parts under the Asean Free Trade Area scheme, industry leaders say. The 5% tax on automobiles and parts traded among the six founding Asean countries -Thailand, Malaysia, Singapore, Brunei, the Philippines and Indonesia – was abolished on January 1, in a move towards turning Asean into a single market. This would help Asean nations become more competitive against other Asian giants – particularly China and India.
Auto industry expected to reap huge benefits from AFTA
You Might Also Like
Ugly Trading Session Leaves Thai Stock Market Index in Murky Waters The Thai stock market had recently done remarkably well...