Tuesday, October 20, 2020

Commerce Ministry discusses moves to boost trade with EU-Asean Business Council

Sep 16. 2020
Vice Commerce Minister Sansern Samalapa
Vice Commerce Minister Sansern Samalapa
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By The Nation

The Commerce Ministry recently talked with the EU-Asean Business Council (EU-ABC) about the steps Thailand has taken to curb the spread of Covid-19 and how it plans to revive its economy.

In the teleconference on Tuesday (September 15), Vice Commerce Minister Sansern Samalapa said the subject of a free trade agreement with EU was also touched upon.

“With more than 50 European companies doing business in the Asean region, Thailand recognises the importance of enhancing trade relations with the European Union, facilitating trade using digital technology, promoting foreign investment, intellectual property protection, and raising the standard of local export products, especially in the agriculture and food sector,” he said.

Both sides also exchanged views on other trade matters, such as the revival of a Thai-EU FTA, progress of the Regional Comprehensive Economic Partnership (RCEP) and a reduction of Asean barriers on non-tax measures etc.

These talks received strong interest from the EU, with EU-ABC scheduled to hold a round of talks with trade ministers from Vietnam, Malaysia and Singapore later this month. These talks will reflect future trade opportunities between Europe and Asean.

The EU-Asean Business Council was established in 2014 to promote business cooperation between the European private sector and Asean. It currently comprises European chambers of commerce from nine Asean countries and more than 30 large European multinationals covering a wide range of businesses such as automotives, electronics, medicines and medical supplies, consumer goods, finance, logistics, etc.

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