Related Keywords: boost textile production, conclude FTA with Europe, cut by EU, GSP privileges, impacting competitiveness, pay high duty, products exported to EU, Thailand, World Bank redefined
The EU has cut GSP privileges to several countries, including Thailand, since January 1 after the World Bank redefined them as upper-middle income countries from 2011 to 2013. Due to which Thailand has to pay high duty as much as 12 percent now for products exported to the EU, impacting the country’s competitiveness with countries such as Indonesia, Vietnam, Cambodia, Laos and Myanmar which still enjoy GSP privileges.
