Thailand is preparing to host the second round of discussions for a free trade agreement (FTA) with the European Union (EU) at the end of January. The aim is to reach a finalized agreement within the next two years. The focus of the talks will be on trade liberalization, investment, and services. The Department of Trade Negotiations Director-General, Chotima Iemsawasdikul, has emphasized this priority.
The first round of discussions took place in Brussels, Belgium, in September, involving 19 expert-level subcommittees covering various aspects of trade. These discussions touched on topics such as digital trade, intellectual property, sustainable development, green trade, environmental sustainability, and climate change.
The EU is an important economic partner for Thailand, being the country’s fourth-largest trading partner. In the first ten months of last year, the bilateral trade between Thailand and the EU reached $35 billion, accounting for 7.3% of Thailand’s total global trade. Thailand’s exports to the EU mainly included computers and rubber products, valued at $18.2 billion, while imports from the EU, such as machinery and medical products, totaled $16.7 billion.
The EU has already signed FTA agreements with Vietnam and Singapore, and is currently in talks with Indonesia. Resuming negotiations for the EU-Thailand FTA is seen as a significant step for Thailand’s global trade, and the EU has shown a keen interest in Thailand as an economic partner.
In conclusion, Thailand is actively working towards finalizing an FTA with the EU within the next two years, with a focus on trade liberalization. This agreement would further enhance the economic relationship between Thailand and the EU, benefiting both parties.
READ MORE STORIES: https://bangkokone.news
