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Jurin heading to Brussels to jumpstart FTA talks with EU
MONDAY, JANUARY 23, 2023
Commerce Minister Jurin Laksanawisit will be in Brussels on Wednesday and Thursday to push for negotiations on a free trade agreement (FTA) with the European Union.
Jurin said on Monday that the Thai private sector is placing high hopes on this agreement even though talks have been stalling since 2014.
He added that he will meet Valdis Dombrovskis, European commissioner for trade, to show that Thailand is ready to work on the FTA.
“The upcoming negotiation will indicate whether or not the Thailand-EU FTA will succeed,” he said.
He added that this FTA should boost trade between Thailand and the EU, especially when it comes to exporting goods to 27 EU countries and exemption of tariff.
EU is considered Thailand’s fifth biggest trade partner after Asean, China, the US and Japan, accounting for 6.95% of the Kingdom’s global trade.
Last year, Thailand-EU trade was valued at US$41.03 billion (1.46 trillion baht), of which $22.79 billion accounted for export and $18.24 billion for imports.
Thailand’s main exports to the EU were computers, gems and jewellery, air conditioners and rubber, while imports were machinery and pharmaceutical products.