Thailand, along with the 27 European Union countries, has officially announced the commencement of negotiations for the establishment of a Free Trade Area (FTA) between Thailand and the European Union (Thai-EU). These negotiations follow a pause that has lasted over 10 years. It is expected that the first negotiation meeting will begin in July 2023, and the goal is to conclude the negotiations within two years, or by 2025, covering issues of trade in goods, services, and investment between the two sides.
If the Thai-EU FTA negotiations reach an agreement, Thailand stands to benefit as follows:
The European Union's 27 countries have a combined population of about 500,000,000 people and are Thailand's 4th largest trading partner, accounting for 7% of Thailand's total global trade value.
Source: Department of Trade Negotiations, Ministry of Commerce
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