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Thailand pushes to fast-track EU FTA amid global volatility

Thailand pushes to fast-track EU FTA amid global volatility

15 Sept 21:19 Key points summarised by AI
  • Thailand is actively pursuing a Free Trade Agreement (FTA) with the European Union to enhance trade, investment, and agricultural exports, aiming for swift completion amidst global economic instability.
  • Commerce Minister Suphajee Suthumpun led high-level negotiations, stressing Thailand's commitment to the FTA while ensuring the protection of local farmers and small and medium-sized enterprises (SMEs).
  • Both parties acknowledged the critical need for a closer economic partnership to strengthen supply chains, diversify trade risks, and establish long-term economic security, discussing key areas like market access, intellectual property, and investment.
  • Agricultural trade and food safety standards remain a sensitive focal point, with Thailand emphasizing the potential impact on domestic producers and the EU stressing compliance with sanitary and phytosanitary (SPS) measures.
  • Significant progress has been made, with four core chapters of the agricultural portion already concluded, and negotiators aim to finalize the agreement's text in the upcoming ninth round of talks.
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