# Thailand to finalize free trade negotiations with the EU by next year

- Link: https://www.thailand-business-news.com/european-union/132034-thailand-to-finalize-free-trade-negotiations-with-the-eu-by-next-year
- Published: 2024-03-20T21:18:33+07:00
- Author: Bui Dung

Thailand’s Prime Minister Srettha Thavisin aims to finalize a free trade agreement(
FTA) with the European Union within 18 months, with negotiations restarting after
a decade-long delay.

## Key Takeaways

 * Thailand aims to finalize a free trade agreement with the European Union within
   18 months, which would further strengthen their economic relationship.
 * Prime Minister Srettha Thavisin is actively promoting trade and investment during
   his global tour, focusing on boosting investors’ confidence in Thailand.
 * The government’s economic revival plan includes attracting 40 million international
   travelers this year and seeking a visa-free agreement with European countries
   in the EU’s Schengen area.

The FTA would expand economic ties between the two, with Thailand exporting $21.8
billion worth of goods to the EU last year. Srettha is also focusing on trade and
investment during a global tour, meeting with French and German firms to explore
business opportunities.

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Additionally, he plans to seek a visa-free agreement with the EU’s Schengen area
and aims to revive Thailand’s economy through various stimulus packages, including
a “digital wallet” scheme.

The government aims to attract 40 million international travelers this year, including
8.5 million from Europe, Africa, and the Middle East, in a bid to revitalize the
tourism sector, which has been impacted by the COVID-19 pandemic.