BANGKOK, Thailand – Thailand is pushing forward with accelerated negotiations on a free trade agreement (FTA) with the European Union following talks between Minister of Commerce Pichai Naripthaphan and Dr. Nicole Hoffmeister-Kraut, Minister for Economy, Labor and Tourism of the State of Baden-Württemberg. The meeting, held on Oct 21 at the Ministry of Commerce, focused on enhancing bilateral trade and investment, particularly in technology sectors such as artificial intelligence, advanced engineering, and renewable energy.
Baden-Württemberg, a key economic hub in Germany, plays a vital role in Thai-German trade, accounting for 20% of the total trade value between the two countries annually. Major companies from the region, including Daimler (Mercedes-Benz), Bosch, and SAP SE, have already made substantial investments in Thailand. The talks explored further collaboration in automotive technology, electrical circuits, data centers, and the food and tourism industries.
Pichai also sought support from the German government to expedite the Thai-EU FTA negotiations, which both sides believe will boost trade and investment between Thailand and the EU, benefiting various regions, especially Baden-Württemberg.
Beyond the FTA, both nations plan to engage in trade promotion activities, including business delegations and exchanges of entrepreneurs. Pichai encouraged further investment from Baden-Württemberg, affirming that Thailand is ready to support new investors. (NNT)
