Deputy Minister of Commerce Alongkorn Ponlaboot affirmed that the study on the free trade agreement FTA between Thailand and the European Union EU was still underway while measures were being prepared to handle Greece’s economic crisis. Mr Alongkorn stated that the cabinet would try to derive appropriate measures to counter the effects from the European debt problem on the Thai economy in short, medium, and long terms.

He said all concerned ministries would jointly assess all information compiled, and the Ministry of Commerce would develop solutions for proposal to the cabinet. In addition, the deputy minister asserted that the study on the Thai-EU FTA was still being carried out under the responsibility of the Department of Trade Negotiations despite the Greek financial crisis, which needed to be monitored daily.

Euros banknotes
FTA negociations to be continued between Thailand and UE despite political turmoil

Although the trade value between Thailand and Greece only accounts for 0.08% of the total, the impact diffusing across Europe could pose threat to the export and trade sectors of Thailand. Europe is Thailand’s second largest export market after ASEAN.

via Study on Thai-EU FTA continues despite economic crisis : National News Bureau of Thailand.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand to tax Stock market trades ending a 30 years waiver

The tax is expected to contribute to the Thai government’s budget revenue by about 8 billion THB (230 million USD) in the first year

Food insecurity is threatening decades of development progress in Asia and the Pacific

The Russian invasion of Ukraine has disrupted supplies of food staples and fertilizer, straining a global food system already weakened by climate change impacts, pandemic-related supply shocks, and unsustainable farming practices.

Thai government endorses Thailand-EU FTA

Thailand currently has 14 active FTAs with 18 countries, with the proposed Thailand-EU FTA to increase the number of countries the kingdom can freely trade with to 45.