Page 39 - Bullion World Issue 3 July 2021
P. 39

Bullion World | Issue 03 | July 2021

           Thailand has free trade agreements   Naturally, goods and services flow to
           with two of the largest precious metals   locations where they are most welcome
           consumers in the world, which are   and freely traded. In this way, both India
           both India and China. In some ways,   and China can still trade with each other,
           Thailand serves as the middle grounds   via Thailand, in order to benefit from the
           where the two countries can trade as   trade agreements which, exist bilaterally.
           an intermediary, where some form of   As China looks to regions which comply
           value added processing is conducted. In   with its sourcing initiatives, it will in turn
           essence India can send precious bearing   drive demand to procure materials from
           materials to Thailand and Thailand can   the ASEAN and APEC region. With flows
           provide a value added process to the   coming to and from India into the Thai
           materials, then re-export the refined   market, it is certain that those materials
           materials as a “Made in Thailand”   in some format will end up in the China
           product. The Thai origin products can   market as Thai products.
           then flow into China under the various
           China-Thai FTA agreements which
           enable trade to be done effectively.





























           Tariff elimination applied since 2004 -2005 for 50%, then 75% from 2005 – 2006,
           then 100% tariff reduction in 2006









           HS Code: 711319 include a definition for precious metals




















           Reserve bank of India trade statistics indicating size of trade with Thailand in shown in
           Rupees


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