Opportunities arise for Thailand amidst Italy’s drought and the EU’s labor rights crackdown
Published on: April 1, 2024.
Filed under:
Thailand Explores Rice Export Opportunities as EU Lifts Tax Privileges for Vietnam and Myanmar
In a bid to take advantage of new export opportunities, Thai trade representatives have been instructed by Deputy Prime Minister and Commerce Minister Phumtham to explore potential markets for rice. The move comes as Italy, faced with drought conditions, has expressed a need for increased rice imports. Additionally, the European Union (EU) has recently revoked tax privileges for Vietnam and Myanmar, citing their failure to protect basic labor rights.
While this shift presents a promising opportunity for Thailand, it is important to note that tax privileges for Vietnam and Myanmar are likely to be reinstated next year. Consequently, Thailand must act swiftly to maximize its gains from this favorable situation.
The Thai government has heeded the call and directed its embassy in Rome to investigate the potential for rice exports to Italy. With Italy currently experiencing drought, the demand for rice imports is expected to rise significantly. This presents a golden opportunity for Thai rice exporters to establish themselves as key players in the Italian market.
In addition to exploring the Italian market, Thai trade representatives are also actively seeking other potential markets for Thai rice. With the European market offering immense potential, it is crucial for Thailand to capitalize on this situation by increasing its presence and securing long-term trade agreements.
The decision by the EU to lift tax privileges for Vietnam and Myanmar serves as a clear indication of the importance placed on protecting labor rights. Thailand, as a major player in the rice export industry, must continue to prioritize the promotion and protection of labor rights to maintain its credibility and secure long-term trade relationships.
With the EU expected to reinstate tax privileges for Vietnam and Myanmar next year, Thailand has a limited window to make the most of this opportunity. By establishing itself as a reliable and responsible rice exporter, Thailand can position itself as the preferred choice for European countries in need of rice imports.
In conclusion, Thailand is actively exploring new export opportunities for its rice industry in response to Italy’s increased demand due to drought conditions. The revocation of tax privileges for Vietnam and Myanmar by the EU further strengthens Thailand’s chance to establish itself as a key player in the European market. By focusing on protecting labor rights and emphasizing reliability and responsibility, Thailand is poised to capitalize on this favorable situation and solidify its position as a leader in the global rice export industry.
Source
