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.
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.
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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.
EU donates €350 million to fight Covid-19 in ASEAN countries
EU mobilises €350 million to assist the ASEAN region in fight against the coronavirus
As part of its plan to support partner countries around the globe, the European Union (EU) is mobilising €350 million to fight against the spread of the coronavirus and mitigate the impact of the pandemic on the ASEAN region.
EU to revive free trade talks with Thailand
Free trade talks between Thailand and the EU started in 2013 but were put on hold after the 2014 military coup that ousted the elected government of Yingluck Shinawatra.
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