Thailand-EU ink MoUs on tourism and SME businesses

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BANGKOK, 18 November 2013 Thailand and the European Union (EU) have signed 2 memorandums of understanding on tourism and SME businesses. 

Bilateral relations between Thailand and the EU have been strengthened after Mr. Antonio Tajani, Vice-President of the European Commission, responsible for Industry and Entrepreneurship, signed agreements with two ministers of Thailand: Industry Minister Prasert Boonchaisuk and Tourism and Sports Minister Somsak Pureesrisak.

Under the agreements, both parties will be obligated to support each other in terms of regulations aimed at easing Thailand’s and the EU’s tourism and SME industries.

The two-way trade between Thailand and the EU last year accounted for 1.3 trillion baht, making Thailand the third largest ASEAN trade partner of the European Union, while the EU was Thailand’s second largest investment destination.

After the signing, Minister Prasert said the move was part of the government’s plan to build business networks with other countries around the world.