Pichai’ discusses with Switzerland and Norway to accelerate the closing of the FTA deal by the end of this year to increase the value of joint trade.
Yesterday (17 October), Mr. Pichai Naripthaphan, Minister of Commerce, discussed with Mrs. Helener Budliger, Undersecretary of the Ministry of Economic Affairs of the Swiss Confederation, along with the Swiss Ambassador and the Norwegian Ambassador to Thailand, as well as representatives of the European Free Trade Association (EFTA) or ‘EFTA’.
EFTA consists of 4 member countries: Switzerland, Norway, Iceland and Liechtenstein to expedite the FTA negotiations between Thailand and EFTA, which are in the final stretch of negotiations, to be able to conclude the results according to the target by the end of 2024, which both parties have jointly intended.
Mr. Pichai said that the latest round of FTA negotiations with EFTA, the 10th round in August 2024, has made significant progress, but there are still some outstanding issues that both parties must find a mutual
ly acceptable conclusion. Today, he led the Ministry of Commerce team to discuss with the EFTA side to expedite the push for both parties to find a conclusion on the outstanding issues and to conclude the negotiation results by the end of this year. The Thailand-EFTA FTA negotiations are one of the important policies that the Ministry of Commerce is pushing for to expand trade and investment opportunities for Thailand, as EFTA member countries are potential markets with high purchasing power. This FTA will also help develop and enhance Thailand’s competitiveness, as EFTA is outstanding in modern technology and innovation, which Thailand can cooperate in enhancing its potential with EFTA under this FTA.
In 2023, EFTA was Thailand’s 16th largest trading partner, with a trade value of 9,882.75 million US dollars, or 1.72 percent of Thailand’s total trade with the world. Thailand exported 4,385.01 million US dollars to EFTA and imported 5,497.75 million US dollars from EFTA. Major export products include gems an
d jewelry, watches and components, iron, steel and products, air conditioners and components, and travel appliances. Major import products include jewelry, gems, silver bars and gold, watches and components, meat for consumption, and medical and pharmaceutical products.
Source: Thai News Agency
