Illustrative photo. (Source: AFP/VNA)Speaking after the Joint Public and Private SectorConsultative Committee on Commerce meeting last weekend, Commerce MinisterJurin Laksanawisit said the negotiation framework for the Thailand-EU FTA isscheduled to go before the cabinet by late September, while that for theASEAN-Canada FTA is likely to be submitted to the cabinet in August.
The government has been trying its best to accelerate talkson the FTAs, particularly the deal with the EU to boost exports, which are theonly engine to boost the country's economic growth this year, Jurin said.
Once the Thailand-EU FTA becomes effective, Thailandexpects to enjoy trade and investment expansion because the EU is its fifthlargest trading partner after ASEAN, China, Japan and the US.
In 2020, bilateral trade between Thailand and the EUtotalled 33.1 billion USD, representing 7.56 percent of Thailand's globaltrade. Thai exports to the EU totalled 17.6 billion USD last year.
According to Jurin, Thailand and ASEAN counterparts arealso revving up discussions with Canada to establish a scope of negotiationsfor an ASEAN-Canada FTA.
Two-way trade between Thailand and Canada valued at 2.31billion USD last year, up 0.53 percent. Of the total, exports from Thailandrepresented 1.54 billion USD, up 0.67 percent, while imports were 767 millionUSD.
Thailand also aims to conclude talks on a FTA withPakistan by the end of this year, with the expectation that the pact, onceimplemented, will help boost economic growth by 0.18-0.32 percentage points, orabout 200 – 800 million USD a year.
Auramon Supthaweethum, director-general of the TradeNegotiations Department, said Thailand and Pakistan have held nine rounds oftalks that have concluded 12 chapters of the agreement's 13 chapters in total.The remaining issues pending negotiations include customs protocol, tradefacilitation, as well as related regulations regarding market access./.
VNA
