12-3-2024 (BANGKOK) Prime Minister Srettha Thavisin of Thailand announced on Tuesday that the country anticipates finalizing negotiations on a free trade agreement (FTA) with the European Union by 2025. The Thai government aims to bolster the economy by attracting trade and investment through this strategic agreement.
During a visit to France, Srettha shared in a statement that discussions surrounding the Thai-EU FTA are projected to conclude within the next year and a half. This announcement followed a meeting with French President Emmanuel Macron, signaling a commitment to advancing diplomatic and economic ties.
Trade negotiations between Thailand and the EU resumed last year after a hiatus of nearly a decade. The EU had suspended talks in 2014 following a military coup that ousted the civilian government in Thailand.
According to government data, Thailand exported goods valued at $21.8 billion to the EU in the previous year. Key exports included automobiles, computers, jewelry, and electric circuits. This substantial trade volume solidifies the EU’s position as Thailand’s fourth-largest trading partner.
Srettha Thavisin conveyed that President Macron pledged support for Thailand’s request for visa exemption from Schengen states’ members. The Prime Minister stated that the request would undergo consideration post-June, with hopes of completion by the year’s end.
Additionally, it was revealed that President Macron plans to reciprocate the visit by travelling to Thailand next year, further underscoring the commitment to strengthen diplomatic relations and explore potential economic collaborations between the two nations.
