Thailand Finalizes First Free Trade Agreement with EFTA
Historic milestone in Thailand's trade relations with European countries
Thailand's Minister of Commerce, Pichai Naripthaphan, announced the successful completion of negotiations for the Thailand-European Free Trade Association (EFTA) Free Trade Agreement.
The milestone marks Thailand's first free trade agreement with European countries, concluded after two years of negotiations.
EFTA member countries, which include Switzerland, Norway, Iceland, and Liechtenstein, have officially endorsed the agreement.
The comprehensive negotiations involved addressing key issues such as trade in goods, rules of origin, trade facilitation, sanitary measures, intellectual property, and sustainable development practices.
The agreement aligns with Thailand's strategy to boost trade relations and attract foreign investment.
The Ministry of Commerce led the efforts, speaking to Thailand's commitment to reducing barriers and enhancing confidence in the business sector.
This FTA signifies a pivotal step towards future trade negotiations with the European Union and other major global partners.