The European Union (EU) is ready to resume negotiations on its free trade agreement (FTA) with Thailand as soon as possible, senior officials have affirmed.
Bangkok (VNA) – The European Union (EU) is ready to resumenegotiations on its free trade agreement (FTA) with Thailand as soon aspossible, senior officials have affirmed.
Director-General of the Department of European Affairs underthe Thai Foreign Ministry Sasiwat Wongsinsawat and the EU's Deputy ManagingDirector for Asia and Pacific Department at the European External ActionService (EEAS) Paola Pampaloni recently co-chaired the 15th Thailand-EU SeniorOfficials' Meeting via video conference.
This year's annual meeting discussed COVID-19 and its impacton the economy, as well as the political developments in Thailand, according toa statement released by the Department of European Affairs, with both partiesalso agreeing to strengthen ties by signing the Partnership and CooperationAgreement by the end of next year.
The EU also confirmed its readiness to resume EU-ThailandFTA talks as soon as possible. Relevant agencies will discuss the details at ameeting of a committee on trade and investment in December.
At the same time, Thailand and the EU voiced a desire forclose and tangible cooperation including in the fight against IllegalUnreported and Unregulated (IUU) fishing via the ASEAN Network on Combating IUUFishing, and by setting up a Thailand-EU Security Dialogue and promoting theprotection of labourers via the Thai-EU Labour dialogue.
Moreover, the EU will discuss a voluntary agreement oncombating illegal wood trading with the Forest Law Enforcement, Governance andTrade.
The EU is Thailand’s fifth largest trade partner, afterASEAN, China, Japan and the US. Two-way trade hit 44.5 billion USD in 2019, ofwhich 23.58 billion USD came from Thailand’s exports. The deal, once takinginto effect, is expected to help raise annual exports and imports by 3.4percent each, and investment by 2.7 percent./.
The European Union is ready to resume long-delayed free trade agreement (FTA) negotiations with Thailand, EU Ambassador to Thailand Pirkka Tapiola has affirmed.
A free trade agreement (FTA) with the European Union (EU) is likely to stimulate not only exports but also imports and investment as well, helping to raise Thailand's GDP by 1.63 percent a year, according to a study.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
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Illustrative image (Source: bangkokpost) 
