European Union
Commerce Ministry to revive Thai-EU FTA talks
The EU is a big market with some 513 million population, and was Thailand’s 4th biggest trading partner last year with 47 billion U.S. dollar in trade value.
BANGKOK (NNT) – To cope with economic uncertainties and fluctuations caused by international trade issues, the government is aiming to establish Free Trade Agreements (FTAs) with other countries as a tool to promote Thai exports.
The Ministry of Commerce is now set to resume Thai-EU FTA talks, which have been on hold since 2014.
A seminar will be taking place to take input from all stakeholders, such as government agencies, private companies, educational institutes, entrepreneurs and the general public, providing a platform for exchanges of opinions about economic and social aspects beneficial to Thailand, opportunities and challenges arising from the resumption of Thai-EU FTA negotiations.
The Department of Trade Negotiations Director General Auramon Supthaweethum said many countries in the region have already established FTAs with the European Union, such as Vietnam and Singapore, while Indonesia and the Philippines are proceeding with FTA talks.
Thailand’s 4th biggest trading partner
The EU is a big market with some 513 million population, and was Thailand’s 4th biggest trading partner last year with 47 billion U.S. dollar in trade value.
Thailand’s key exports to the EU include computers and parts, automobiles and parts, jewelry and accessories, electrical circuits, air conditioners and parts. Most of these products are affected by the trade war between the U.S. and China.
The FTAs established between the EU and other countries are considered of high standard when it comes to market opening for products, services and investments. The establishment of the FTA must be carefully considered as all sides still have concerns regarding the lack of supporting laws for the compensation fund for FTA-affected persons, which still require a budget allocation year by year.
Asean
ASEAN and EU conclude the world’s first bloc-to-bloc Air Transport Agreement
The AE CATA is the world’s first bloc-to-bloc air transport agreement and will bolster connectivity and economic development among the 37 member states of ASEAN and the EU.
The Association of Southeast Asian Nations (ASEAN) and the European Union (EU) and its Member States have concluded the negotiations on the ASEAN-EU Comprehensive Air Transport Agreement (AE CATA) at the Extraordinary ASEAN-EU Senior Transport Officials Meeting held virtually on June 2.
(more…)
Asean
ASEAN Overtakes EU to Become China’s Top Trading Partner in Q1 2020
The Association of Southeast Asian Nations (ASEAN) became China’s largest trading partner in the first three months of 2020, surpassing both the EU and the United States.
How the COVID-19 situation may affect Thailand’s export sector
Thailand's export sector could face damage of 200-300 billion baht if the situation cannot be brought under control within six...
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...