Thailand accelerates FTA deal with EU amid US tariff uncertainty
Kyiv • UNN
Bangkok plans to finalize a free trade agreement with the European Union by the end of the year. This will help the country reduce its dependence on US and Chinese markets.
Thailand has intensified negotiations on a free trade agreement with the European Union, seeking to reduce dependence on the US and Chinese economies amid rising global trade tensions. This was reported by Bloomberg, according to UNN.
Details
Thailand's Trade Representative, Veerapong Prapha, stated that Bangkok views the agreement with the EU as a key element in diversifying economic ties. According to him, the country aims to secure access as quickly as possible to the large and stable European market, which numbers over 450 million consumers.
Negotiations enter the home stretch
Thailand and the EU have already completed negotiations on 11 out of 24 chapters of the future agreement. The next round of talks is scheduled for the end of the month in Brussels, and the Thai government hopes to reach a final agreement by the end of the year.
At the same time, the most difficult issues remain public procurement, intellectual property protection, access to agricultural markets, and energy cooperation. Bangkok is paying particular attention to protecting its national agriculture and pharmaceutical sectors.
Competition in the region intensifies
Thailand fears falling behind its neighbors who already have or are finalizing trade agreements with the EU. In particular, such agreements are already in force in Vietnam and Singapore, while Indonesia reached a political agreement with the European Union last year.
"We do not want to sit on the sidelines and watch the world change. We want to be at the negotiating table,"
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