Bangkok: The Thailand-EU Free Trade Agreement is close to completion, with two-thirds of the negotiations already finalized. The government is prioritizing efforts to open export markets and attract investment as part of the agreement's objectives.
According to Thai News Agency, the government, led by Prime Minister Anutin Charnvirakul, is actively advancing negotiations on the Free Trade Agreement (FTA) between Thailand and the European Union (EU). Recently, both parties have successfully concluded negotiations on 15 out of 24 chapters. The ongoing discussions aim to resolve the remaining issues to expand export markets, draw investment, and enhance Thailand's competitiveness on a global scale.
Ms. Lalida Periswiwatana, Deputy Spokesperson for the Prime Minister's Office, emphasized that the Thailand-EU FTA seeks to establish a comprehensive trade agreement that covers trade in goods, services, investment, government procurement, intellectual property, and sustainable development. This agreement is intended to boost economic potential and create new opportunities for businesses on both sides.
The finalized chapters address key areas such as market access for goods, sanitary and phytosanitary measures, rules of origin, trade in services, investment, and government procurement. Both sides are working diligently to reach a mutual agreement on the remaining chapters as quickly as possible.
Ms. Lalida highlighted that the European Union is a crucial trading partner for Thailand, with a market characterized by high purchasing power. The FTA would reduce trade barriers and increase opportunities for Thai exports, particularly in sectors like agriculture, food, automobiles, industrial parts, and electrical appliances. Additionally, it would attract European investment, bolster business confidence, and improve Thailand's competitive edge compared to countries with existing FTAs with the EU.
The government is committed to negotiating the Thailand-EU FTA to open new opportunities for Thai entrepreneurs, expand export markets, attract investment, and foster long-term economic growth. Ms. Lalida assured that these efforts will consider the country's and its citizens' best interests, ensuring Thailand's robust competition in the global economy.
The government will persist in pushing forward the negotiations to expedite the Thailand-EU FTA's completion. This agreement will serve as a crucial mechanism to enhance national competitiveness, create new trade and investment opportunities for Thai businesses, and drive sustainable economic growth in Thailand.