Thailand fully prepared for free-trade talks with the UAE next month: Govt

Thailand is ready to begin negotiations on a free-trade agreement (FTA) with one of its fastest growing trade partners, the United Arab Emirates (UAE) next month, government spokesperson Anucha Burapachaisri said.

Both Prime Minister Prayut Chan-o-cha and the Minister of Commerce have been advised on progress made ahead of the talks, which are scheduled to commence on May 9, Anucha said, adding that Prayut is confident an FTA with the Emirates will open more opportunities for trade in the Middle East.

Bilateral trade and investment between Thailand and the Emirates is rising swiftly. The Emirates' top export to Thailand is oil and related products. Non-oil trade between the two countries reached US$6.1 billion in 2022, up 21% year on year.

The Emirates is Thailand’s top trading partner in the Middle East, a region the government of Prime Minister Prayut Chan-o-cha has made a priority for expanding trade and investment.

An FTA with the Emirates will build on a memorandum of understanding signed earlier this year by the Federation of UAE Chambers of Commerce and Thailand’s most powerful business lobby – the Joint Standing Committee on Commerce, Industry and Banking.