General & Misc

EU Businesses voice Support for Renewal of FTAs with Thailand

Date: 12 March 2018; Type: Legal News; Source: National News Bureau of Thailand

BANGKOK, Mar 12 (NNT) - Thailand's Ministry of Commerce has revealed European Union (EU) businesses have shown interest in supporting renewed Free Trade Agreements between Thailand and the bloc.

Deputy Minister of Commerce, Chutima Boonyaprapasorn, disclosed that, at the 24th informal meeting of ASEAN economic ministers, which took place March 1-2 in Singapore, several European businesses operating in ASEAN through the EU-ASEAN Business Council and the Europe-ASEAN Business Alliance engaged in discussions on Thailand’s trade policy and increasing business with ASEAN.

Chutima said that EU-ASEAN Business Council President Donald Kanak led EU representatives from the logistics and automotive sectors to meet with Thailand and discuss its trade policies, with Thai officials assuring them that the nation’s policies are supportive of trade with Europe and its increased relationship with ASEAN. President of the Europe-ASEAN Business Alliance, Jeff Donald, led a similar talk on expanding business opportunities in Thailand, where he said European businesses are interested in the Thailand 4.0 policy and its synchronicity with China’s silk road initiative. Both groups lauded Thailand’s economic development and showed interest in renewing Free Trade Agreements with the Kingdom. An EU decision in December of last year allowed all ties with Thailand to normalize.

Chutima welcomed the proposal for the EU to send a delegation of business people to Thailand this year, inviting them to visit the Eastern Economic Corridor.

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