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US removes tax breaks on imports
The US has withdrawn tax breaks on four Thai imports, because their value exceeded their limit. The four items that lost tax privileges as of July 1 are cereal, canned lychee and canned longan, kitchenware and plastic goods.
A Thai Foreign Trade Department source said yesterday the US took the action after it saw an aggressive increase in those imports between last year and the first half of this year. Products under the US generalised system of preferences (GSP) are limited to a market share of no more than 50 per cent and an import value of no more than US$100 million (Bt3.8 billion). Meanwhile, the US has not announced yet whether it will still offer GSP incentives to Thailand next year.
THAI set to move Thai Airways International Plc is ready to move 1.8 million pieces of equipment from Don Muang Airport to Suvarnabhumi Airport, board member Somchainuk Engtrakul said yesterday. The flag carrier has set aside Bt100 million to cover the cost of the move and also appointed a committee to take responsibility for the transfer of all of its flight operations to the new gateway.
5-year SME plan Caretaker Industry Minister Suriya Jungrungreangkit has ordered the Small and Medium Enterprises Promotion Office to draw up a five-year plan, in a bid to strengthen the country's competitiveness and promote a freer flow of trade under free-trade agreements. Strategies will be drawn in six areas: small and medium-sized enterprise promotion, new SME development, related manufacturing factor development, social safety net for sustainable development and business management. The plan, which will run from 2007-11, aims to fill knowledge gaps for SMEs, so they can compete with export rivals.
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