Thailand’s Ministry of Commerce is aiming to finalise Free Trade Agreements (FTAs) with the United Arab Emirates (UAE), Sri Lanka and the European Free Trade Association (EFTA) in the second and third quarters of 2024.
Auramon Supthaweethum, Director-General of the Ministry of Commerce’s Department of Trade Negotiations. (Photo: https://elevenmyanmar.com/)
Bangkok (VNA) – Thailand’s Ministry of Commerce isaiming to finalise Free Trade Agreements (FTAs) with the United Arab Emirates(UAE), Sri Lanka and the European Free Trade Association (EFTA) in thesecond and third quarters of 2024.
As reported by the English-language daily newspaperThe Nation, Auramon Supthaweethum, Director-General of the ministry’sDepartment of Trade Negotiations, said the three markets are significant, with acombined trade value of up to 31 billion USD annually.
Accordingly, the Thailand-UAE FTA negotiations are inprogress and are expected to conclude within this year following four rounds oftalks. Products expected to benefit include food, textiles, clothing, leathergoods, wood products, rubber, and plastics, as well as such services astransportation, finance, and business consultancy.
The Thailand-Sri Lanka FTA negotiations have reached theirsixth round and are expected to conclude by early 2024. With abundant naturalresources, Sri Lanka could enhance trade opportunities and competitiveness forThai entrepreneurs in the South Asian market. It could also serve as aproduction base for goods, spreading to Central Asia, Africa, and Europe.
The final section is the Thai-EFTA agreement, which has beennegotiated through six rounds of talks and should be concluded by mid-2024. This agreementhas high standards, helping to enhance Thailand's competitiveness, attractinvestments, and foster beneficial cooperation./.
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Auramon Supthaweethum, Director-General of the Ministry of Commerce’s Department of Trade Negotiations. (Photo: https://elevenmyanmar.com/) 
