Bangkok (VNA) - Thailand signed amemorandum of understanding (MoU) on July 12 to form a "mini-FTA" with Kofu city in central Japan.
Thai Commerce Minister Jurin Laksanawisit, who presided overthe MoU signing ceremony, said the government is also pursuing similarmini-FTAs with other places including Gyeonggi province in the Republic ofKorea. He said mini FTAs are a key policy the ministry is pursuing to boosttrade, investment and economic cooperation.
According to Jurin, the deeper trade partnerships at the city or statelevel will help boost trade and investment in targeted industries. The MoU signing with Kofu city is expected to bringabout several mutual benefits to Thailand and Japan, whether it involvesmanufacturing, joint marketing or technology transfers, he said.
This deeper cooperation is estimated to increase the trade value in gems andjewellery between Thailand and Japan by 5 percent to not less than 15.5 billion THB this year.
A similar pact with Telangana state in India was scheduled to take placein January this year but was postponed.
Two-way trade between Thailand and Japan totalled 50.5 billion USD lastyear, with exports from Thailand accounting for 22.8 billion USD and imports worth27.7 billio🅘n USD. Thailand aims for a 4 percent increase in exports to Japan this year./.
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At the signing ceremony of the MoU (Source: NNT) 
