Free trade agreements with the EU, UAE and Sri Lanka expected next year

13 Sept 12:20 Key points summarised by AI

Thailand anticipates finalizing Free Trade Agreements (FTAs) with the European Free Trade Association (EFTA), Sri Lanka, and the United Arab Emirates (UAE) in the second and third quarters of 2024.
These FTAs are projected to boost Thailand's annual trade volume with the three markets by approximately US$31 billion (one trillion baht).
The UAE FTA, potentially concluded first, positions the nation as an ideal logistical hub for Thai products entering the Middle East, benefiting exports like food, textiles, and automobiles.
Sri Lanka offers a strategic location on major Indian Ocean shipping routes and is seen as a production base for Thai investments in processed food, textiles, and jewelry for export to Africa and Europe.
The EFTA agreement will open a significant market for diverse Thai products, including farm goods, processed foods, automobiles, and services such as tourism, wellness, and clean energy.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.