Thailand aims to conclude the Thailand-EFTA Free Trade Agreement this year, marking the first Free Trade Agreement (FTA) between the country and other European nations.
EFTA, the Free Trade Agreement between Thailand, Iceland, Liechtenstein, Norway, and Switzerland, is set to be finalized this year, while Thailand-EU Free Trade negotiations have been extended to next year.
According to Chotima Iemsawasdikul, Director-General of the Department of Trade Negotiations, Thailand is also accelerating free trade negotiations with South Korea, Bhutan, and the ASEAN-Canada.
In addition, Thailand is pushing for the upgrade of the 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 are modern and aligned with current trade practices, facilitating trade for Thai entrepreneurs. Currently, Thailand has 14 FTAs with 18 countries.
The Department of Trade Negotiations intends to leverage the forthcoming Joint Trade Committee (JTC) meetings with key trading partners like Malaysia, Bangladesh, and China to tackle trade barriers and enhance economic collaboration.
Additionally, the department has been actively developing dairy products from local Thai producers in preparation for the market opening, as the Thailand-Australia and Thailand-New Zealand FTAs will reduce dairy product tariffs to 0% next year. (NNT)
