Bangkok: Chantawit Tantasith, the Deputy Minister of Commerce of Thailand, has expressed optimism that the ongoing US tariff issues will accelerate the conclusion of the Thailand-EU Free Trade Agreement (FTA) by 2025. The Deputy Minister is emphasizing the importance of speed and quality in negotiations to maximize benefits for farmers, entrepreneurs, and the broader public. He is also committed to incorporating feedback from all sectors to elevate Thai trade standards to international levels. According to Thai News Agency, Mr. Tantasith announced these developments following a stakeholder consultation workshop titled "Voice x Vision: Thai-EU FTA in Focus." The workshop was attended by key figures including Mr. Viraphong Prapha, Thai Trade Representative; Ms. Chotima Iamswasdikul, Director-General of the Department of Trade Negotiations; and Mr. Suphakit Charoenkul, Director of the International Institute for Trade and Development. Mr. Chantawit highlighted that concluding the Thailand-EU FTA by 2025 would mark a significant advancement for Thai trade, reducing trade barriers and enhancing competitiveness while extending sustainable access to the European market. He noted that the current international trade landscape, influenced by US tariff policies, is creating a sense of urgency for both Thailand and the EU to expedite negotiations. This urgency aims to safeguard trading capabilities and ensure the protection of citizens' basic rights without disadvantaging Thailand in the global market. Progress in the Thailand-EU FTA negotiations has been substantial, with six rounds completed and seven out of 24 chapters already concluded. Successful negotiations are anticipated to open significant opportunities for Thai trade and investment, enabling Thai entrepreneurs and farmers to access the vast EU market and attracting European investment in emerging sectors like biotechnology, renewable energy, and electric vehicles. This FTA is seen as strategically vital, covering crucial aspects of the modern global economy, such as intellectual property, labor standards, government procurement, digital trade, and environmental sustainability. The Ministry of Commerce has tasked the Department of International Trade Negotiations and ITD with organizing forums to gather input from various sectors, including government agencies, farmers, SMEs, large private companies, academia, politics, and civil society. The goal is to establish a balanced and unified negotiating direction. The recent forum facilitated discussions on three critical topics: government procurement, intellectual property, and energy and raw materials. The focus was on proactive government procurement strategies, intellectual property priorities in the pharmaceutical sector, and promoting a green economy while ensuring energy security. Mr. Chantawit assured that the Ministry of Commerce would integrate these insights into its negotiating position. The seventh round of negotiations is scheduled for the end of September in Brussels, EU. Thailand is determined to conc lude the negotiations promptly, adhering to the principle of "speed and quality" to ensure that the FTA benefits all sectors of Thai society.
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