Thailand is poised to finalize the Thailand-EFTA Free Trade Agreement (FTA) by the end of this year, marking a significant milestone as it will be the country’s first FTA with European nations. This agreement involves Thailand and the European Free Trade Association (EFTA) countries: Iceland, Liechtenstein, Norway, and Switzerland. Meanwhile, negotiations for a Thailand-EU Free Trade Agreement are expected to extend into the next year.
In parallel, Thailand is expediting free trade discussions with South Korea, Bhutan, and ASEAN-Canada, as confirmed by Ms. Chotima Iemsawasdikul, Director-General of the Department of Trade Negotiations. The government is also focused on upgrading existing trade agreements, including the ASEAN Trade in Goods Agreement (ATIGA), the ASEAN-China agreement, the ASEAN-India agreement, and the Thailand-Peru agreement. These upgrades aim to modernize the agreements, aligning them with current trade practices to better facilitate Thai entrepreneurs. Presently, Thailand has 14 FTAs covering 18 countries.
The Department of Trade Negotiations plans to utilize upcoming Joint Trade Committee (JTC) meetings with major trading partners such as Malaysia, Bangladesh, and China to address trade barriers and strengthen economic cooperation.
In preparation for the market opening under the Thailand-Australia and Thailand-New Zealand FTAs, which will reduce dairy product tariffs to 0% next year, the department has also been actively developing dairy products from local Thai producers.
In attendance at recent trade discussions and initiatives were various officials and stakeholders committed to advancing Thailand’s trade interests.