Thailand aims to finalize the Thailand-EFTA Free Trade Agreement, marking its first Free Trade Agreement (FTA) with European nations. The agreement, involving Iceland, Liechtenstein, Norway, and Switzerland, is set to be completed in 2024, while negotiations for the Thailand-EU Free Trade Agreement have been extended to 2025.
Chotima Iemsawasdikul, Director-General of the Department of Trade Negotiations, stated that Thailand is accelerating free trade negotiations with South Korea, Bhutan, and ASEAN-Canada. Efforts are also underway to upgrade existing agreements, such as the ASEAN Trade in Goods Agreement (ATIGA), the ASEAN-China agreement, the ASEAN-India agreement, and the Thailand-Peru agreement, to ensure they align with modern trade practices and facilitate trade for Thai entrepreneurs. Thailand currently has 14 FTAs with 18 countries.
The Department of Trade Negotiations plans to utilize upcoming Joint Trade Committee (JTC) meetings with key trading partners like Malaysia, Bangladesh, and China to address trade barriers and enhance economic collaboration. Additionally, the department has been developing dairy products from local Thai producers in anticipation of the market opening, as the Thailand-Australia and Thailand-New Zealand FTAs will reduce dairy product tariffs to 0% in 2025.
(Source: Pattaya Mail)
