China's entry into the World Trade Organization (WTO) is believed to give a major boost to Thailand's rice export in 2002, the United Nations Food and Agriculture Organization (FAO) said Thursday in Bangkok.
Thailand's annual rice shipment is set to cross the 7 million- ton mark for the first time this year and will do better next year, mainly due to China's increasing demand for imported rice after its WTO membership, according to a statement released by the FAO's regional office here.
"The accession to the WTO will transform China into one of the world's main buyers of rice, with imports estimated to surge nearly six-fold to 1.1 million tons in 2002, " it said.
Also, China's obligations to the WTO would require it to allow entry up to 4 million tons of rice subject to a low one percent import duty, which is exciting news for Thailand.
Besides, the FAO said Thailand's main rice export rivals, Vietnam and Pakistan, have found it hard to keep up their performance due to reduced domestic supply and external factors. That will also give Thailand's rice shipment an edge.
(People's Daily December 20, 2001)
