In September 2019, Thailand signed 13 free trade agreements with various countries to promote Thai rubber exports. The nine ASEAN countries, Japan, South Korea, Australia, New Zealand, Chile, and Peru have all cancelled tariffs on imported Thai rubber.From January to February 2020, Thailand exported rubber products and finished products, such as automobile tires, rubber gloves, rubber bands, synthetic rubber bands, etc., to the global market. The total trade export volume was 1.969 billion US dollars, an increase of 10% over the same period.
Alamon, Director of Thailand’s International Trade Negotiations, said that the increase in exports of Thai rubber products is the result of 14 free trade agreement partners not imposing import tariffs on Thai rubber products.
In 2019, Thailand’s exports of processed rubber products and finished products to the global global market amounted to approximately 11.238 billion U.S. dollars. It has become the world’s fourth largest exporter of processed rubber products and finished products after China, Germany, and the United States. The trade volume of FTA countries accounts for approximately US$5.143 billion, accounting for approximately 46% of the global export market trade volume.