Thailand pushes FTA talks with EU

Thai Commerce Minister Jurin Laksanawisit. (Photo: Bangkok Post)

Bangkok (VNA) – Thai Commerce Minister Jurin Laksanawisit will be in Brussels on January 25-26 to push for negotiations on a free trade agreement (FTA) with the European Union.

The EU, comprising 27 member states, is Thailand's fifth-largest trading partner after ASEAN, China, the US, and Japan.

According to Jurin, the Thai private sector is placing high hopes on this agreement. This FTA should boost trade between Thailand and the EU, especially when it comes to exporting goods to 27 EU countries and exemption of tariff.

He said he will meet Valdis Dombrovskis, European commissioner for trade, to show that Thailand is ready to work on the FTA.

In 2022, trade Thailand and the EU was valued at over 41 billion USD, accounting for 6.95% of Thailand's total trade. Of which, Thai exports to the EU totalled 22.79 billion USD and imports were 18.24 billion USD. 

Thailand’s main exports to the EU were computers, gems and jewellery, air conditioners and rubber, while imports were machinery and pharmaceutical products

Thailand currently has 14 FTAs in place with 18 countries, including the Regional Comprehensive Economic Partnership (RCEP), which took effect in early last year.

On December 15, 2022, Thailand and the EU signed the Thai-EU Partnership and Cooperation Agreement (PCA) to boost bilateral cooperation./.