BANGKOK, Thailand – Minister of Commerce Pichai Naripthaphan has announced plans to accelerate negotiations for a Free Trade Agreement (FTA) with the European Union (EU), with the goal of finalizing the deal by the end of 2025. The directive follows the successful signing of the Thailand-EFTA FTA with Switzerland, Norway, Iceland, and Liechtenstein at the World Economic Forum in Davos on January 23. The Thai-EU FTA is anticipated to enhance Thailand’s trade competitiveness and attract investment to bolster economic growth.
To advance the negotiations, the Ministry of Commerce has tasked the Department of Trade Negotiations with prioritizing discussions with the EU, a bloc of 27 member states. Pichai and his team are set to travel to Brussels in the coming weeks to meet with European Commissioner for Trade and Economic Security Maroš Šefčovič. The agreement is expected to open new export opportunities for Thai products, such as agricultural goods, textiles, electronics, and automotive components, in one of the world’s most valuable markets.
Thailand’s extensive trade strategy for 2025 includes concluding additional FTAs with ASEAN-Canada, the United Arab Emirates, South Korea, and Bhutan. These deals, if finalized, will expand Thailand’s trade partnerships from the current 16 FTAs covering 23 countries to agreements with 53 countries. This expanded network is anticipated to reduce trade risks, boost export potential, and attract investment in key industries that align with Thailand’s future development goals.
Pichai highlighted the recently signed Thailand-EFTA FTA as a major achievement in the country’s trade policy. The agreement with high-standard economies lays the groundwork for advancing Thai-EU FTA negotiations, opening access to 27 more markets. He expressed confidence that the Thai-EU FTA would enhance Thailand’s position in global trade while driving growth in industries such as renewable energy, advanced technology, and high-value manufacturing. (NNT)
