Bangkok: The Prime Minister engaged in discussions with 40 major European businesses concerning the Thailand-EU Free Trade Agreement (FTA), urging these entities to expedite infrastructure development and advance Thailand's membership in the Organisation for Economic Co-operation and Development (OECD) to attract investment.
According to Thai News Agency, Ms. Rachada Thanadirek, Spokesperson for the Prime Minister's Office, disclosed that Prime Minister and Minister of Interior Anutin Charnvirakul welcomed a delegation from the EU-ASEAN Business Council (EU-ABC) and the European Association for Business and Commerce (EABC). This delegation included representatives from over 40 leading European companies spanning nine key industry sectors such as pharmaceuticals, healthcare, finance, automotive, energy, and technology. Notable companies like Bayer, Sanofi, Siemens Healthineers, and Michelin participated to exchange views on economics, trade, and investment, aiming to enhance cooperation between Thailand and the European Union.
The Prime Minister emphasized Europe's role as a key economic partner for Thailand, noting that continued investment by European companies signifies confidence in Thailand's potential. The government is committed to enhancing competitiveness to attract new investments, create jobs, and boost income.
The government's accelerated action in three areas includes developing infrastructure to support emerging industries, upgrading transportation and logistics systems, and improving investment regulations through the Thailand FastPass program. Additionally, promoting Thailand's OECD membership aims to elevate government standards and build global investor confidence.
Thailand aims to become a manufacturing and innovation hub in various industries, particularly semiconductors, clean energy, and digital technology. The government is also pushing for swift completion of the Thailand-EU FTA negotiations to enhance market access and opportunities for Thai businesses.
European business representatives affirmed Thailand's status as a key investment destination due to its strategic location and skilled workforce. They commended the government's efforts in promoting high-value industries and the digital economy. The representatives also proposed cooperation in areas like production, medicine, and digital economy to create jobs and enhance competitiveness.
The Thai government seeks to foster a sustainable economy by increasing renewable energy use and reforming laws to simplify business procedures. Plans include modernizing over 7,000 laws to make them more investment-friendly.
The Prime Minister expressed confidence that an improved investment environment in Thailand would attract foreign investment, technology, and innovation, creating jobs and economic growth. He highlighted the upcoming 65th anniversary of Thai-European Union relations as an opportunity to strengthen ties and create new economic opportunities for both sides.