Thailand and the European Union (EU) have reported progress in their negotiations for a free trade agreement (FTA), particularly concerning sustainability, support for small and medium-sized enterprises (SMEs), and the reduction of trade barriers. The seventh round of talks is scheduled to take place in Brussels, Belgium, from September 29 to October 3, 2023.

The most recent discussions were held from June 23 to 27, 2023, in Bangkok, where both parties indicated that the negotiations were proceeding positively. Commerce Minister Pichai Naripthaphan stated that the two regions had achieved agreement in principle on three critical chapters of the FTA:

1. Trade and Sustainable Development (TSD): This chapter seeks to enhance environmental, labor, and social standards linked to trade, aligning with both the EU’s European Green Deal and Thailand’s policies promoting improved social standards.
2. Small and Medium-Sized Enterprises (SMEs): This section aims to provide SMEs with better access to comprehensive information regarding trade regulations and measures, facilitating their participation in international trade.
3. Technical Barriers to Trade (TBT): The goal of this chapter is to ease trade by minimizing unnecessary regulatory obstacles that can hinder commerce.

In addition to these agreements, further discussions addressed market access for goods and exchanged views on proposals concerning services and investment. The respective teams have also outlined tasks to be undertaken prior to the next negotiation round.

Both Thailand and the EU expressed satisfaction with the outcomes of the most recent round of negotiations, particularly highlighting the significance of the TSD chapter. This collaboration reflects a broader global movement toward sustainable trade practices.

Furthermore, the two parties reiterated their commitment to serving as reliable and predictable trade partners amidst prevailing global economic uncertainties. Minister Pichai emphasized Thailand’s intention to expedite the negotiation process, aiming to finalize the FTA swiftly. This approach aligns with prior discussions he held with Maroš Šefčovič, the EU Commissioner for Trade and Economic Security, during the OECD meeting in Paris.

As of January to May 2023, the EU ranked as Thailand's fourth-largest trading partner, following China, the United States, and Japan. The total trade volume between Thailand and the EU reached $18.09 billion, reflecting a modest increase of 0.57% compared to the same period in 2022. Exports from Thailand to the EU amounted to $10.69 billion, showing an increase of 8.86%, while imports decreased by 9.40% to $7.39 billion, resulting in a trade surplus of $3.30 billion for Thailand.