The government has reaffirmed its commitment to concluding its free trade agreement negotiations with the European Union by the end of this year, a move aimed at expanding trade and investment opportunities amid growing global economic uncertainty.
Commerce Minister Pichai Naripthaphan said yesterday that he had met European Trade Commissioner Maroš Šefčovič on Wednesday during the OECD Ministerial Meeting in Paris to discuss the status of the ongoing negotiations.
Both sides agreed that talks on the matter have made steady progress, with four key chapters already concluded, he said, noting these chapters cover transparency, good regulatory practices, customs procedures, trade facilitation and sustainable food systems.
"Thailand is ready to work closely with the EU to conclude the remaining chapters in a way that is appropriate and mutually beneficial," Mr Pichai said.
The Thai government considers the EU a vital strategic and economic partner, and the FTA is a crucial tool for strengthening trade ties and bolstering Thailand's resilience amid geopolitical risks, he said.
Negotiations are entering a critical phase with market access discussions now underway, he said, adding the sixth round of negotiations is scheduled to take place in Bangkok from June 23 to 27. "I've instructed the Department of Trade Negotiations to accelerate the talks to ensure the agreement can be concluded by the end of this year," he said.
The EU is Thailand's fourth-largest trading partner, with bilateral trade valued at over $43.5 billion in 2024. Key exports to the EU include electronics and rubber products, while major imports include machinery and pharmaceuticals.
Source: Bangkok Post
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<p>Time: 2024 By: Ministry of Industry and Trade</p>
