Thailand is expected to start a first round of negotiations toward a bilateral free-trade agreement with the European Union by the middle of the year, a move seen as necessary if the Kingdom is to remain competitive with potential rivals for European business such as Vietnam and Singapore.
Deputy Commerce Minister Alongkorn Ponlaboot said the Cabinet had recently approved plans for the ministry to set up a special committee to conduct a feasibility study on negotiating an FTA with the EU.”The study is expected to be concluded in the next few months, to determine whether the Kingdom should start bilateral talks with the EU,” said Alongkorn.
The EU last week announced that it would start negotiations for bilateral trade pacts with Vietnam and Singapore soon, as the Asean-EU FTA talks have been suspended for a year. Previously, the EU wanted to conclude an FTA with Asean as a whole. However, problems arising due to the varying development levels and differing interests of Aseans members led to the suspension of the talks in 2008. The EU, therefore, expressed interested in bilateral agreements with certain countries in Asean, including Thailand.
Global fashion e-tailer Shein launches new hub in Singapore
How Businesses in Singapore can Reduce Overhead Costs During the Pandemic
The government is expected to draw on S$53.7 billion (US$40 billion) from its reserves for this year and an additional S24 billion (US$17.8 billion) over the next three years to assist local companies transition into a post-pandemic business environment.
Subscribe via Email
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...