Thailand eyes FTA negotiation with UK

22/03/2021 14:47

Thailand and the UK have planned to ink a memorandum of understanding (MoU) on the establishment of a joint committee on commerce and economic cooperation, paving the way for a future free trade agreement (FTA).

Thailand eyes FTA negotiation with UK ảnh 1

Illustrative image (Photo: internet)

Bangkok (VNA) – Thailand and the UK have planned to ink a memorandum of understanding (MoU) on the establishment of a joint committee on commerce and economic cooperation, paving the way for a future free trade agreement (FTA).

The Bangkok Post reported on March 22 that Thai Commerce Minister Jurin Laksanawisit is scheduled to sign the MoU with the UK's secretary of state for international trade Elizabeth Truss on March 29.

Auramon Supthaweethum, director-general of the Trade Negotiations Department of Thailand, was quoted as saying that the MoU will enhance the relationship between the two countries, and expand trade and investment after Brexit, towards paving the way for negotiations and dialogue on a bilateral FTA.

Thailand-UK trade value in 2020 hit 4.88 billion USD, with Thailand’s exports to the UK totaling 3.09 billion USD. The Southeast Asian country spent 1.79 billion USD on imports from the UK in the year, with key products including machines and their components, electrical circuit boards, chemicals, pharmaceutical products and electric machinery./.

VNA