Bangkok--Aug 3--Ford Thailand
The news reports in several Thai dailies today on August 2, quoting Ford's dissatisfaction with the terms of the basic accord reached regarding the Japan-Thailand FTA, are misleading as they were quoted out of context. In response to media inquiries at the press conference yesterday afternoon (August 1):
- It was clearly stated, Ford Thailand had NOT received any official information from the government with regards to the conclusions arrived at by the Japan-Thailand FTA negotiations.
- Mr. Felice, as quoted in the news reports, was commenting on Ford's earlier positioning against the immediate elimination of auto duties.
- There was no direction on future investment decisions. Mr. Felice stated as with all Free Trade Agreements, Ford would assess business implications and future investment strategy once the agreement was confirmed.The statement below is Ford Thailand’s official positioning to reflect to media reports the Thailand — Japan FTA has reached a basic accord with a gradual reduction of vehicles >3000cc by 2010.
Ford Thailand is encouraged by reports the Japan-Thailand FTA is progressing toward a balanced and reasonable compromise that favors the long-term growth and competitiveness of Thailand's automotive sector.If confirmed, it is strong affirmation that the Thai government is committed to its strategy and vision to turn Thailand into the ‘Detroit of Asia’. It would be a clear indication the Thai government had taken into consideration the earlier concerns and objections voiced by the non-Japanese automakers (Ford included) on the damaging consequences that could result from an immediate elimination in duties on vehicles imported from Japan.Ford Thailand remains committed to the long-term development of Thailand's automotive industry. Ford is currently studying plans for potential new investments in the region and Thailand is under strong consideration.
For more information please contact:
Natee Sastyoungkul
Tel. 02 686-4000 ext 4635 End.