Free trade talks between Thailand and EU to resume in March
BANGKOK (NNT) – Commerce Minister Yurin Laksanawisit and EU Trade Commission Valdis Dombrowski have announced an agreement to resume negotiations on a Free Trade Agreement (FTA) between Thailand and the European Union. First quarter of the year.
Julin described the meeting as “historic.” It was the first time that political representatives from both sides agreed to resume free trade talks. He plans to seek cabinet approval to resume trade talks, and Dombrowski plans to seek approval from his ministers. 27 member states of the EU.
This is a big step forward for Thailand, which has been seeking an FTA deal with the EU for almost a decade. FTA negotiations began in March 2013, but were put on hold the following year.
If the resumed negotiations lead to a deal, Thailand would become the third ASEAN member. FTAs with the EUafter Vietnam and Singapore.
The EU is Thailand’s fourth largest trading partner
The EU is Thailand’s fourth largest trading partner after China, the US and Japan. Last year, bilateral trade between Thailand and her EU totaled 1.3 trillion baht (US$41 billion), accounting for her 7% of Thailand’s total trade.
Last year, Thailand’s exports to the EU totaled 843.3 billion baht, with major exports including computers, computer equipment and parts, gems and jewelry, air conditioners and parts, rubber products, poultry, and electronic circuit boards. increase.
Also, in 2022, Thailand’s imports from the EU will total 594.2 billion baht, including major imported products such as machinery and parts, pharmaceuticals, chemicals, electrical machinery and tools.
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Reporter: Krajanwit Jogit
Rewriter: Pafamon Arayaskawato
National news station: http://thainews.prd.go.th
https://www.thailand-business-news.com/european-union/95871-thailand-eu-free-trade-talks-to-resume-in-march Free trade talks between Thailand and EU to resume in March