Count one meeting to negotiate a Thai-EU FTA to create a handicap

Minister of Foreign Affairs opens an international meeting through the VC system to negotiate under the formal Thai-EU FTA framework to create a handicap. “Products-Services-Invest” Thailand and 27 European Union member countries move forward to make money build the future of the country

Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce Giving an interview after discussing with the Vice-President of the European Commission for Economic Affairs and the European Commission for Trade, Mr. Valdis Dombrovskis via VC system at Burachat Chaiyakorn room, 4th floor, office building. deputy Ministry of Commerce to commence negotiations on the Thai FTA with the European Union After traveling to Brussels kingdom of belgium At the end of January And today is a historic day for two sides between Thailand and the European Union. 27 countries officially announced the start of negotiations for an FTA between Thailand and the EU.

“Thailand’s efforts with the European Union for almost 10 years, but have been stuck lately. The last time he led the delegation to meet with Valdis Dombrovskis, Vice-President of the European Commission for Economic Affairs and the European Commission for Trade in Brussels. Kingdom of Belgium on January 25, the past has agreed to take action within both sides, he has brought the matter to the Cabinet meeting on February 14, and the Cabinet give approval Today, he met Lord Dombrovskis again. Official joint announcement, counting the preparation of the Thai-EU FTA, aiming to be completed within 2 years, namely the year 2025 or 2025, on the topic of trade in goods. services and investments between them It will be beneficial to both parties and Thailand will greatly benefit from this FTA,” Mr. Jurin said.

For Thailand 1. When effective Tariffs on Thai exports to the EU 27 countries will eventually be zero. Competitive on price and handicap to non-EU countries such as vehicles and components. various electronic devices Clothing, textiles, food, rubber, chemicals and plastics, etc. 2. The service sector will create opportunities in fields that Thailand has expertise in many service sectors such as wholesale-retail, food production and tourism. etc. 3. Importing raw materials, the tax will be zero as well. Our manufacturing sector can reduce production costs. especially the import of machinery, equipment and chemicals 4. Exchange of investment between the two parties. Thailand will receive technology and innovation transfer. 5. It will play an important role in attracting investors from all over the world to invest in Thailand. Increase investment numbers to increase GDP for the country 6. As a result, Thailand increased the number of FTAs from the current 14 FTAs for 18 countries to 15 for 45 countries as soon as it comes into effect. Thailand is the third country in ASEAN that the 27-nation EU has agreed to an FTA (with Vietnam and Singapore already having an FTA with the EU).

The European Union, 27 countries with a combined population of about 500,000,000 people, is Thailand’s fourth most important trading partner, with 7% of the trade value with Thailand that Thailand trades with the world. Trade figures between Thailand and the EU in 2022, Thailand has a balance of 150, 000 million baht, making an FTA with the EU that is officially number one today It is considered a historical day that is of great benefit to Thailand and the EU as well in many dimensions. Subsequently, senior official level talks will begin in July this year. Thailand will host the first time. And when all agreements are reached, Thailand will bring it to the next parliamentary meeting. to ratify The EU side is doing the same on the EU side. and will be signed into force Is creating money to create another important future for Thailand The Department of Trade Negotiations will be the main host for further negotiations. Especially the revival of the negotiations this time. As Thailand is the second largest economy in ASEAN, the Thai-EU FTA will be modernized. It is dynamic and beneficial to both sides, strengthening and expanding EU trade relations with the Indo-Pacific region.

Source: Thai News Agency

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