Thailand and EU exchange offers in first round

After the first round in Brussels with the EU’s deputy director-general for trade at the European Commission, Olarn Chaipravat, head of the negotiation team and chairman of the Thailand Trade Representative office, said he was confident of reaching a final agreement within the target of one and a half years.
“Thailand and the EU have amicably exchanged proposals and documents on details for trade in goods and services and investment liberalisation. The two countries will deepen the negotiations in September,” he said.
Olarn said Thailand had also improved the EU’s understanding on some sensitive issues. These include investment liberalisation, intellectual-property rights, competition policy, governance procurement, rules of origin, trade facilitation, trade remedy measures, and sustainable development.
Despite these sensitive issues, he insisted that the negotiation team would make benefiting the Kingdom the first priority. Thailand should not lose out or face problems from this FTA, he said.
The Thai government will study the proposals from the EU side, and then brainstorm opinions from all involved sectors to ensure transparency and benefit for the country, Olarn said.
According to the Trade Negotiations Department, the EU ranks fifth among Thailand’s major trading partners. Last year, Thai exports to the EU were valued at US$21.72 billion (Bt663.8 billion), and the Kingdom locked in a trade surplus of $6.27 billion.
Europeans comprise the second-biggest group of foreign investors in Thailand. The EU has combined initial investment worth $3 billion in the country.
Thailand is the second-largest investor in the EU among the 10 Asean member states, with $1.8 billion.