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Thailand urged to reduce tariff to zero to promote tourism

The private-run Federation of Thai Industries (FTI) has asked the government to reduce tariff on imported brand name goods…

The private-run Federation of Thai Industries (FTI) has asked the government to reduce tariff on imported brand name goods to zero with an objective to promote `Bangkok:Fashion City` and tourism.

Mr. Santi Vilassakdanont, vice president of FTI, said the tariff reduction could be held between 3-6 months first on a trial basis and could be scrapped if it was found later that the reduction had failed to enable the government to achieve economic target , making more Thais to spend on luxurious goods and failed to induce more foreign tourists to visit Thailand.

He said he believed that the tariff reduction would not make the country to suffer higher trade deficits because buyers of imported and expensive brand name goods were mostly well-to-do people who could afford to fly overseas and bought them anyway. Tax reduction could lure more tourists to spend more money in Thailand.

Mr. Santi`s comments were made after Industry Minister Phinit Jarusombat had proposed the Finance Ministry to reduce tariff on imported brand name goods to zero with the condition that prices must also be lower than those in Singapore and Hong Kong in order to promote `Bangkok:Fashion City` program and make `Thailand … the shopping paradise`. The minister`s

proposal is being debated whether it would make Thai people to become more extravagant.

Meanwhile, Mrs. Ampornpim Vajarabhai, managing director of Elga (Thailand) Co. Ltd., said the proposal was an innovative idea as it would induce tourists planning to visit Hong Kong and Singapore for shopping to visit Thailand instead and simultaneously encouraged wealthy Thais to buy goods in the country.

The government would receive more revenue tax which would be an advantage to retail business as well as those related to tourism, for example, hotels, restaurants, farm products and local brand name goods.

Vicky Karantzavelou
Co-Founder & Chief Editor - TravelDailyNews Media Network

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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