Thailand’s Department of Trade Negotiations (DTN), Ministry of Commerce, has announced that the country has become the world’s largest rubber exporter, thanks to its free trade agreements (FTA) with China and many other countries including Southeast Asia, Japan, South Korea, and the US.
DTN’s Director-General, Auramon Sapthaweetham, mentioned that Thailand exported rubber upwards of US$4.6 billion in 2018, which accounted for 1.82% of total Thai exports. “China was Thailand’s biggest market, importing Thai rubber at US$1.96 billion – 43% of total Thai rubber exports in 2018,” Auramon said.
The country’s achievement in becoming the world’s largest rubber export is a result of the 13 FTAs with 18 countries. The agreements have played a key role in eliminating import tariffs on rubber and provided trade opportunities in various markets, boosting the export of Thai rubber products.