Thailand speeds up free trade agreement negotiations

EFTA-Thailand trade volume in 2021 stood at 7.51 billion USD (Photo: VNA)

Bangkok (VNA) – The Trade Negotiations Department of Thailand targets concluding the negotiation framework on a free trade agreement (FTA) with the EU this year and wrapping up FTA negotiations with Turkey and Pakistan.

The department also aims to finish an information paper on the scope of the proposed FTA with the European Free Trade Association (EFTA) next month. EFTA comprises Iceland, Liechtenstein, Norway and Switzerland.

According to the department's Director-General, Auramon Supthaweethum, it is scheduled to submit the information paper on an FTA with EFTA to the cabinet meeting for consideration within the first quarter or early second quarter this year.

EFTA-Thailand trade volume in 2021 stood at 7.51 billion USD, representing 1.39 percent of Thailand's total trade. Of the total, exports from Thailand accounted for 1.7 billion USD; and imports, 5.81 billion USD.

Auramon said that FTA negotiations between Thailand and the EU are progressing as scheduled, while the department is speeding up FTA talks with Turkey and Pakistan.

Thailand has 14 FTAs with 18 countries, with the Regional Comprehensive Economic Partnership, which came into force early this year, being the latest trade pact./.