# Thailand Gears up for FTA Discussions with EU in January

- Link: https://www.thailand-business-news.com/economics/120125-thailand-gears-up-for-fta-discussions-with-eu-in-january
- Published: 2024-01-03T19:25:28+07:00
- Author: Thai News ข่าวไทย

**Thailand to host second round of FTA discussions with EU, aiming to finalize agreement
in 2 years, focusing on trade liberalization.**

## Thailand aims to finalize free trade agreement with EU within two years

Thailand is gearing up to host the second round of discussions on a free trade agreement(
FTA) with the European Union (EU) at the end of January. The goal is to reach an
agreement within the next two years. The Department of Trade Negotiations Director-
General, Chotima Iemsawasdikul, emphasized that the talks will prioritize liberalizing
trade, investment, and services. The plan is to hold three meetings annually, with
the aim of completing negotiations by 2025.

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## Recent developments in Thai-EU FTA negotiations

The first round of discussions took place in Brussels, Belgium, in September. The
negotiations involved 19 expert-level subcommittees covering various trade aspects,
including digital trade, intellectual property, and sustainable development. Commerce
Minister Phumtham Wechayachai discussed the FTA with members of the European Parliament
in Bangkok, expressing hope for their support in swiftly concluding and enforcing
the Thai-EU FTA. Discussions also included green trade, environmental sustainability,
and climate change issues.

Currently, the EU has signed FTA agreements with Vietnam and Singapore. And in the
meantime, EU in talks with Indonesia. As for the EU-Thailand FTA, it is in the process
of resuming negotiations. Like the EU FTA with Malaysia and the Philippines

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## EU’s significant role in Thailand’s global trade

The EU is a crucial economic partner for Thailand, being the country’s fourth-largest
trading partner. In the first ten months of the year, two-way trade between Thailand
and the EU reached US$35 billion, accounting for 7.3% of Thailand’s total global
trade. Thailand’s exports to the EU, including computers and rubber products, were
valued at $18.2 billion, with imports from the EU, such as machinery and medical
products, totaling $16.7 billion. The EU’s approval is vital for the FTA, and recent
interactions underscore the EU’s keen interest in Thailand as an economic partner.

Source : National News Bureau of Thailand