Bangkok, Government spokesperson Reveals that the government aims to drive ‘Proactive economic diplomacy policy’ emphasizes maintaining existing markets Increase negotiations of new FTAs ??with target countries, expand trade, attract investment. and make money The government aims to conclude the South Korea FTA, UAE EFTA in 2024.
Mr. Chai Watcharong, Spokesman of the Prime Minister’s Office Revealed that the government sees the benefits and importance of the Free Trade Area (FTA) as a tool to strengthen the ability to export Thai products to the world market. It has pushed for negotiations to expand economic, trade and investment opportunities through maintaining FTAs ??with existing trading partners and continuously creating FTAs ??with new trading partners. Including urging to make the most of the FTA to facilitate international trade and investment. Facilitate business operators in line with the ‘Proactive Economic Diplomacy Policy’, strengthening the Thai economy. and generate income into the country
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nformation from the Department of International Trade Negotiations Ministry of Commerce, which stated that at present Thailand has successfully negotiated a total of 14 FTAs ??with trading partners in 18 countries/territories. Consisting of China, Japan, South Korea, Australia, New Zealand, India, Peru, Chile, Hong Kong and 9 ASEAN member countries, 11 more are being negotiated. It will upgrade 5 existing FTAs ??to improve agreements with existing trading partners. and is the development of a total of 6 new FTAs ??to expand trade and investment with new key trading partner countries in many regions.
Most recently, the Ministry of Commerce has successfully negotiated an FTA with Sri Lanka. It is planned to sign this FTA agreement in early February 2024, which will be the first FTA under the government’s operation under the government of Mr. Settha Thavisin, Prime Minister and Minister of Finance. and this is Thailand’s 15th FTA. During 2024, Thailand has a goal of negotiating 3 additional FTAs, including (1)
FTA negotiations between Thailand and South Korea. To build on additional liberalization from the existing ASEAN-South Korea FTA (2) FTA negotiations between Thailand and the United Arab Emirates (UAE) to further support the export of Thai products to the Middle East market; and (3) Negotiating additional FTAs ??between Thailand and the European Free Trade Association (EFTA) to create cooperation in technology and innovation, and during 2025, Thailand aims to negotiate additional FTAs ??with the European Union (EU) to increase capacity. In the competition for exporting Thai products to the European Union
Spokesperson for the Prime Minister’s Office Added that the FTA allows Thai entrepreneurs to not be restricted from importing. Receive special privileges and are exempted or reduced from taxes. However, deciding to do an FTA must study the information to cover all dimensions in detail. This includes studying the benefits, challenges, and impacts of the FTA and listening to opinions and suggestions from all s
takeholders before negotiating. For the benefit of our Thai brothers and sisters
‘The Prime Minister supports negotiations on using the FTA as one of the important tools to drive ‘proactive economic diplomacy’ to bring real benefits to the people. The government spokesperson emphasized the Prime Minister’s work guidelines that Want to expand trade opportunities and attract investment This allows the Thai economy to grow strongly on the world stage and improve the quality of life of Thai people. Make diplomacy that is edible, tangible, and actually beneficial,’ Mr. Chai said.
Source: Thai News Agency