Thailand eyes FTA negotiation with UK

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).

Monday, March 22, 2021 14:47

Thailand eyes FTA negotiation with UK ảnh 1

Illustrative image (Photo: internet)

Bangkok (VNA) – Thailand and the UK haveplanned to ink a memorandum of understanding (MoU) on the establishment of a jointcommittee on commerce and economiccooperation, 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 theMoU with the UK's secretary of state for international trade Elizabeth Truss onMarch 29.

Auramon Supthaweethum, director-general of the Trade Negotiations Department ofThailand, was quoted as saying that the MoU will enhance the relationshipbetween 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 exportsto the UK totaling 3.09 billion USD. The Southeast Asian country spent 1.79billion USD on imports from the UK in the year, with key products including machinesand their components, electrical circuit boards, chemicals, pharmaceuticalproducts and electric machinery./.

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