Kingdom mulls resumption of FTA talks with 4 European countries after 7-year hiatus
After seven years of suspension, Thailand is considering resuming trade talks with four European countries under the European Free Trade Association.
The four countries are Switzerland, Norway, Iceland and Liechtenstein.
Piramol Charoenpao, director-general of the Trade Negotiations Department, said yesterday that Thailand will soon hold public hearings and after that the pact will be sent to Parliament for endorsement under Article 190.
Trade negotiations between Thailand and Efta were last held in 2006.
The pact is expected to help promote trade and investment as well as to liberalise services and technology transfers. European countries are ahead in technology development.
The first of four public forums for this year is set for March 25 in Khon Kaen with a seminar on “FTA Thailand-Efta: Opportunities and Challenges”.
All interested parties would be invited to participate, including the state, private enterprise, industrial, agricultural and non-governmental sectors.
The department will educate participants on the benefits and challenges and how Thai enterprises can prepare for them.
The results of the hearings will be incorporated in the draft of the negotiation pact.
The Commerce Ministry has reported that Efta is one of the high-potential markets for Thailand, as trade has been increasing each year. Average trade during the past three years was US$12.56 billion. Last year, two-way trade reached $13.45 billion.
