Commerce Ministry reveals that negotiations on the Thailand-EU FTA are being accelerated, with the deal expected to be closed on December 25, 68.

The Minister of Commerce revealed that the negotiations on the FTA between Thailand and the European Union will be concluded by the end of 2568 to expand the market, reduce costs, increase the potential of entrepreneurs, and attract more investors from Europe.

14 Mar 68 Mr. Pichai Naripthaphan Minister of Commerce Revealed that they had discussed via teleconferencing with European Commissioner for Trade Maros Sefkovic Economic stability, inter-organizational relations and transparency To promote negotiations on a Free Trade Agreement (FTA) between Thailand and the European Union (EU). According to the policy of Ms. Paethongtarn Shinawatra, Prime Minister, who urged the Ministry of Commerce to accelerate the conclusion of negotiations within this year to take advantage of this agreement to expand the market, reduce costs, increase the potential of entrepreneurs and attract more investors from Europe.

Currently, the Thailand-EU FTA negotiations have been conducted in 4 rounds, with 2 chapters of negotiation results concluded and discussions on opening the market for goods and services have begun. For the 5th round of negotiations, the EU will host from 31 March - 4 April 68. Thailand and the EU will cooperate closely to achieve the FTA negotiation results by 25 December 68.

“Although the negotiation of this FTA is complex and involves new issues such as government procurement, energy and raw materials, state enterprises and subsidies, trade competition, and sustainable food systems, the Ministry of Commerce will work actively, cooperate with government agencies, and discuss closely with the private sector to ensure that the negotiations are successful and provide maximum benefits to Thai entrepreneurs, farmers, and consumers,” the Minister of Commerce said.

The Minister of Commerce said that the EU is a large economic market and an important trade partner of Thailand. If the FTA negotiations can be concluded, it will help create an advantage for Thai products in global competition, reduce production costs, attract investment, and stimulate economic growth for both sides.

Mr. Pichai emphasized that the acceleration of the conclusion of the Thailand-EU FTA is not just about increasing the value of trade, but is an important step in strengthening the Thai economy. Thailand will take advantage of this agreement to expand the market, reduce costs, increase the potential of entrepreneurs, and attract more investors from Europe. The Thailand-EU FTA will be a key to creating economic stability and help Thailand better adapt to competition on the world stage.

In addition, the EU is Thailand's fourth largest trading partner (after China, the United States and Japan) with a total trade value of 4 million US dollars (approximately 43,533 trillion baht) or 1.54% of Thailand's total trade with the world.

Thailand exports to the EU worth 24,205 million US dollars (approximately 850,000 million baht). Important export products include computers, equipment and components, gems and jewelry, air conditioners and components, rubber products, automobiles and parts.

While Thailand imported from the EU worth 19,328 million US dollars (approximately 687,000 million baht), the main imported products were machinery and components, medical and pharmaceutical products, aircraft and aviation equipment, chemicals, and electrical machinery.

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