EXIM Bank foresees export growth of 7-9% in 2018

New Customs Act to transform Thailand into regional distribution hub

BANGKOK, 25 July 2018 (NNT) – The Thai Chamber of Commerce held a seminar to raise awareness about the new Customs Act B.E. 2560 among Thai importers and exporters to ensure they have correct understanding.

The seminar was held with an aim to educate import and export business operators about certain changes made to the customs law particularly regarding a duty free zone. The Customs Act now recognizes areas where imported goods are waiting to be shipped to a third country duty free zones, hoping to promote Thailand as a regional trading and distribution hub.

According to Customs Department Deputy Director-General Kitti Suttisumpun, even though the Customs Department’s tax collection revenues have declined since the customs law was amended; it has been compensated by the collection of fees related to the distribution of commodities in the new duty free zones.

He claimed that there is a 40% increase in the number of import and export companies using this type of duty free zone to store their imported goods.

Source: National News Bureau of Thailand (NNT) National News Bureau & Public Relations :

Reporter : Nuppol Suvansombut / Rewriter : Thammarat Thadaphrom