Thailand, EU to resume FTA talks in March

Thailand and the EU have agreed to pursue free trade agreement (FTA) negotiations in the first quarter this year, after nearly a decade of stagnation.

Friday, January 27, 2023 10:14

Thailand, EU to resume FTA talks in March ảnh 1

Illustrative image (Photo: Bangkok Post)

Bangkok (VNA) – Thailandand the EU have agreed to pursue free trade agreement (FTA) negotiations in thefirst quarter this year, after nearly a decade of stagnation.

Commerce Minister of Thailand Jurin Laksanawisit madethe statement following a meeting in Brussels with the EU Trade CommissionerValdis Dombrovskis.

Dombrovskis wrote onTwitter that both sides want a comprehensive, high-quality agreement, withambitious and sustainable provisions.

The EU is now Thailand's fifth largest trade partner, behind ASEAN, China, theUS and Japan. Two-way trade hit 41 billion USD last year, of which, Thailand’sexports to the EU totaled 22.8 billion USD, mostly computers, equipment and spareparts; gemstones and jewelries, air conditioners and components, rubber productsand electronic circuit boards.

Thailand currently has 14 FTAs with 18 countries,including the Regional Comprehensive Economic Partnership (RCEP) that came intoeffect early last year. On December 15, 2022, the two sides signed theThailand-EU Partnership and Cooperation Agreement (PCA) to promote bilateralcooperation./.

VNA

#free trade agreement #Commerce Minister of Thailand Jurin Laksanawisit #Regional Comprehensive Economic Partnership #two-way trade

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