PM speeds up closing of Turkey-Pakistan FTA deal
Mrs. Oramon Sapthaweetham Director-General of the Department of International Trade Negotiations Revealed about the negotiations for the Free Trade Agreement (FTA) of Thailand in 2022 that the Department is preparing to fully negotiate a free trade agreement. According to the policy of Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce to accelerate the handicap for Thai export products and utilizing FTA to create trade and investment opportunities for Thai entrepreneurs
” Pending FTA talks with Turkey Thailand is preparing to host the 8th round of the meeting during March – April, where it will discuss the opening of the product market and prepare the pending FTA clause to make the most progress. Negotiations are aimed at the conclusion of this year, while FTA talks with Pakistan are almost complete. Remaining in the opening of the market, which the department is in the process of making an appointment with Pakistan To expedite the meeting to discuss matters that are still pending as soon as possible. In addition, the ASEAN-Canada FTA negotiations has agreed to open negotiations in November 2021, where both sides are in the process of defining a negotiation plan And it is expected that the first round of meetings will be held soon, ” said Oramon.
Ms. Oramon further said that for the opening of two new FTA negotiations, which are FTA with the European Union (EU) and FTA with the European Free Trade Association (EFTA), the DIP has discussed with relevant sectors of Thailand to outline the negotiation framework which is almost finished and is in the process of discussing with the negotiating partner To document the expectations of the negotiations which will bring such documents and draft negotiation framework to the Cabinet for approval to open further negotiations for discussions with the EU in the process of understanding each other’s expectations The discussions with Efta have progressed well. and is expected to propose to the Cabinet to consider opening negotiations at the end of the first quarter or the beginning of the second quarter of this year.
Currently, Thailand has 14 FTAs with 18 trading partners, namely ASEAN, Japan, China, South Korea, India, Australia, New Zealand, Peru, Chile and Hong Kong, accounting for 63.5% of Thailand’s trade with the world. It will help expand trade and investment opportunities for Thai entrepreneurs. This will gain a trade handicap as trading partners reduce tariffs and trade barriers. By 2021, trade between Thailand and the EU is worth 39,872 million US dollars. The EU is Thailand’s fifth largest trading partner after ASEAN, China, Japan and the United States. accounted for 7.40% of Thailand’s trade with the world. The trade between Thailand and EFTA is valued at $7,506 million. It accounts for 1.39% of Thailand’s trade with the world. For trade between Thailand and Turkey, it is worth 1,646 million US dollars, representing 0.30% of Thailand’s trade with the world. And trade between Thailand and Pakistan is worth 1,817 million US dollars, representing 0.34% of Thailand’s trade with the world.