Thailand
Asean MoU on essential goods signed
Thailand and fellow Asean members have clinched a deal to ease the flow of essential medical goods and supplies to fight the pandemic.
Commerce Minister Jurin Laksanawisit said he and fellow Asean economic ministers virtually signed a memorandum of understanding (MoU) on Tuesday to facilitate the imports and exports of 152 medical goods amid the ongoing pandemic.
Under the MoU, Asean members have agreed to refrain from implementing unnecessary measures or obstacles in trading essential medical goods such as medicines and medical supplies.
The MoU to ease the flow of essential medical goods and supplies comes after Asean economic ministers issued the Hanoi action plan in April to tighten partnership and supply chain connectivity as a response to the pandemic.
Mr Jurin said this MoU is open to be reviewed in two years for the addition of items if necessary.
In 2019, two-way trade between Thailand and Asean peers totalled US$107.56 billion, with exports by Thailand to Asean making up for $62.84 billion and imports representing $44.83 billion.
For the first nine months of this year, total two-way trade amounted to $70.56 billion, with exports from Thailand worth $41.74 billion and imports at $28.82 billion. Key export and import markets were Malaysia, Singapore, Vietnam, Indonesia and the Philippines.
This week, Asean leaders are expected to discuss issues related to building intra-Asean cooperation, expanding and deepening relations between Asean and its partners, regional and international issues, as well as controlling the pandemic and its aftermath.
The Regional Comprehensive Economic Partnership trade pact is also expected to be signed during the summits.
Vietnam, as the chair of Asean, is scheduled to hold a series of regular summit meetings online from Nov 12-15.
Source: https://www.bangkokpost.com/business/2018171/asean-mou-on-essential-goods-signed