BANGKOK: Since China and Thailand signed a ‘zero customs’ agreement on the 1st of October 2015, the import of vegetables and fruit from China to Thailand increased by 85% and 350% respectively. Total exempted customs reached 70 million Yuan.
Shenzhen, a city in Southern China, has imported 22,800 tons of fruit and veg from Taiwan with an estimated value of 120 million yuan since the implementation of the trade agreement. This is almost 50% of the imported total. Main products are durian, longan and fresh mangosteen.
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Trade from China to Thailand has also increased, but at a slower speed. As a result, the trade deficit between the two countries has reached 275 million Yuan.
Comparing with more import of fruit and vegetable from Thailand to China mainland, export of fruit and vegetable from China mainland to Thailand also increased, but trade deficit becomes bigger. In the first quarter after carrying out “zero customs” for fruit and vegetable between China and Thailand, trade deficit between two countries reached 274 millions Yuan.
