Thailand’s dairy industry has shown notable growth, emerging as ASEAN’s top exporter of dairy products. In 2024, Thailand recorded an 11.5% surge in exports, reaching a total value of USD582 million (THB19.623 billion).Deputy Minister of Commerce Suchart Chomklin announced these figures, highlighting Thailand’s strong performance in key markets across the region.
thailand’s success in the dairy sector is attributed to several factors, including zero tariffs and growing demand. Free trade agreements (FTAs) have also played a crucial role, boosting exports by 11.5% year on year during the first ten months of 2024. The country exported US$603.6 million worth of milk and other dairy products from January to October this year, with key markets including Malaysia, Vietnam, Indonesia, Singapore, the Philippines, and Myanmar.
Sources:
- Thailand’s dairy industry thrives with zero tariffs, growing demand
- FTAs help boost Thailand’s dairy exports by 11.5% year on year
Thailand expands Dairy Export Horizons with Strategic FTAs
Thailand,a key player in the global dairy market,is aggressively expanding its export horizons through strategic Free Trade Agreements (FTAs).The country has recently secured tariff eliminations with several nations, including mainland China, Australia, New Zealand, Chile, and Hong Kong. This move opens up new opportunities beyond Southeast Asia,positioning Thailand as a formidable competitor in the international dairy trade.
To further enhance market access,Thailand is actively pursuing new FTAs with South Korea and ASEAN-Canada. These agreements are expected to create additional export channels for dairy products, thereby boosting Thailand’s global competitiveness. The Thai government is also exploring potential agreements with countries in Africa and South America to reduce trade barriers and diversify export markets.
Key Points Summary
| Country/Region | Trade Agreement Type | Expected Impact |
|————————|—————————-|——————————————————|
| Mainland China, Australia, New Zealand, Chile, Hong Kong | Tariff Elimination | Enhanced market access and export opportunities |
| South Korea, ASEAN-Canada | Potential FTAs | Additional export channels and reduced trade barriers|
| Africa, South America | Potential ftas | Diversified export markets and reduced trade barriers|
Thai exporters are encouraged to maximize the benefits of these FTAs and stay abreast of changing consumer trends to maintain global competitiveness.Currently, Thailand’s Trade Negotiation Department is exploring potential FTAs with emerging markets in Africa and South America. Thailand aims to complete FTA negotiations with South korea and the ASEAN-Canada FTA by 2025, thereby enhancing market access, reducing trade barriers, and further strengthening Thailand’s position in the global dairy trade.
The dairy industry in Thailand is poised for significant growth as it leverages these strategic agreements. By diversifying its export markets and reducing trade barriers, Thailand is setting a strong foundation for increased market share in the global dairy trade. As the country continues to negotiate and finalize these FTAs, the future looks promising for thai dairy products.
For more insights into Thailand’s dairy export strategies and the impact of FTAs, visit the official Trade Negotiation Department website.
Stay tuned for updates on Thailand’s dairy export journey and how these strategic moves are shaping the global dairy market.