The country has already shipped eligible products under Afta's tariff reduction scheme worth US$6.3 billion to Asean countries during the first seven months of this year, or 93% utilisation of total eligible products, according to Apiradi Tantraporn, director general of Foreign Trade Department.

The figure included 60% of allotted exports to Indonesia, 44% to Vietnam and 31% to the Philippines. Automobiles, pickup trucks, air conditioners and refrigerators are items with the highest utilisation of Afta benefits.

Last year Thailand exported products worth $7.8 billion under Afta's tariff reduction scheme to Asean members. Two-way trade between Thailand and Asean members was $64 billion, with $35 billion Thai exports, up 28% from 2006. The value of Asean trade with the world was $1.62 trillion last year.

Kanchana Theparuk, the assistant director-general of the Export Promotion Department, said Asean markets were increasingly important to Thailand, with exports worth $34.69 billion to them in the first nine months of this year, up 32% year-on-year. Thailand imported products worth $26.14 billion from Asean over the period, up 26.7% year-on-year.

She said Asean members were considered the main markets for Thailand and exporters should find opportunities to use them as production bases or sources for raw material. Potential businesses in Asean markets include restaurants, education, spa and Thai massage, health and beauty and the construction industry.

Referring to the establishment of the Asean-Korea Free Trade Area, Commerce Minister Chaiya Sasomsab said the government was confident that Parliament would agree to sign the pact if it could hold a meeting, now scheduled for Dec 8-9.

Ms Apiradi said Korea was Thailand's 10th-largest trading partner and the country would reduce tariffs for Asean members on gems and jewellery, textiles and garments, tyres, electrical motors, molasses and frozen fish.

Ms Kanchana said if Thailand could not sign the Asean-Korea FTA at the upcoming Asean Summit in December, it would lose opportunities to export products such as canned seafood that Vietnam currently ships. But Thailand may not lose all its opportunities as Korea could reduce its imports due to its economic problems.