Thailand is resuming Free Trade Agreement (FTA) negotiations with the European Union (EU), aiming to complete talks by 2025. These negotiations, which have stalled since 2014, were announced by Commerce Minister Phumtham Wechayachai.
According to Phumtham, the focus is on sustainability, improving trade and investment, and addressing market access, intellectual property, and digital trade.
The decision follows meetings between the Commerce Minister and representatives from the EU-Asean Business Council (EU-ABC) and the European Association for Business and Commerce (EABC), involving companies such as Airbus and Michelin. The EU is Thailand’s fourth-largest trading partner, with significant electronics, rubber products, and pharmaceutical trade.
Thailand also engages with the United States on joint investments in green technologies and medical research. Discussions have been reinforced by Thai Prime Minister Srettha Thavisin’s recent talks with American investors at the 2023 APEC Summit in San Francisco. (NNT)