Thai delegation heads to Brussels next week for FTA talks with EU
The Ministry of Commerce will be leading a team of Thai trade delegates to the first round of the Thai-EU Free Trade Agreement (FTA) negotiations, scheduled from September 18-22 in Brussels, Belgium.
This will include meetings of the Trade Negotiating Committee at the head of the delegation level, responsible for overseeing negotiations as a whole, and meetings of 19 subcommittees at the expert level. The goal is to conclude the negotiations within two years.
The Thai delegation, including representatives from various government agencies, such as the Commerce, Finance, Agriculture and Cooperatives, Industry, Natural Resources and Environment, Labour, and Foreign ministries, will participate in the negotiations.
According to Auromon Subthaweethum, director-general of the Commerce Ministry's Department of International Trade Negotiations, the talks would cover 19 subcommittees, addressing various aspects of trade, including trade in goods, rules of origin, customs procedures and trade facilitation, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, trade in services and investment, digital trade, intellectual property rights, competition and support, government procurement, trade and sustainable development, small and medium-sized enterprises (SMEs), state-owned enterprises, energy and raw materials, sustainable food systems, transparency and good regulatory practices, dispute settlement, and general provisions and exceptions.
The negotiations are expected to bring several benefits, including help expand Thailand’s GDP by 1.28% annually, increase in exports by 2.83% per year, and increase imports by 2.81% per year, Auromon added.
In addition, the talks would also promote foreign investment, job creation in Thailand, and elevate global standards in areas such as intellectual property, labour rights, environment, and sustainability.
The Thai government plans to engage stakeholders to ensure comprehensive negotiations which would maximise benefits, she said.
Trade between Thailand and the EU in the first seven months of this year (January - July) was valued at US$24.79 billion. Thailand's exports to the EU were valued at U$12.95 billion, while imports from the EU amounted to U$11.84 billion.
Key export items included computers, equipment, and components, air-conditioning units and components, jewellery and gemstones, electronic circuit boards, and rubber products. Notable import items include machinery and machine parts, pharmaceutical and medical products, chemicals, and electrical machinery and components.
