Thailand and EU Advance Free Trade Agreement Negotiations
Fourth round in Bangkok concludes with agreements on good regulatory practices as discussions prepare for Brussels in March 2025
The latest round of negotiations for a Thailand-European Union Free Trade Agreement (FTA) concluded successfully with agreements reached on the chapters concerning good regulatory practices and transparency.
The talks, held in Bangkok from November 25-29, 2024, progressed on multiple chapters according to Chotima Iemsawasdikul, director-general of the Trade Negotiations Department.
Key areas of focus included disseminating information and ensuring public hearings on rules, regulations, and transparent legal processes.
Both parties began discussing the modalities and timelines for submitting proposals related to market access for goods, services, and government procurement.
In preparation for the next round of negotiations scheduled for late March 2025 in Brussels, Belgium, there are plans for online intersessional meetings.
These virtual meetings aim to ensure that the fifth round is successful and that additional agreements can be finalized.
The EU was Thailand's fifth-largest trading partner in 2023, with total bilateral trade reaching $41.7 billion, showing a 1.75% growth from the previous year.
While exports to the EU saw a slight decrease of 3.68% at $22 billion, imports grew by 8.55% to $19.8 billion.
In the first ten months of the current year, bilateral trade amounted to $36.4 billion, increasing by 3.42% compared to the same period last year.
Additionally, the negotiation leaders attended a talk hosted by the European Association for Business and Commerce, emphasizing the benefits and opportunities of the EU-Thailand FTA for businesses.
This event engaged European investors and representatives from the Thai private sector.