PM seeks support for quickly finalising free trade agreement with EU

Prime Minister Paetongtarn Shinawatra met with high-ranking representatives from the EU-ASEAN Business Council (EU-ABC) and the European Association for Business and Commerce (EABC) on Tuesday, urging European businesses to invest in Thailand's clean energy and digital sectors whilst requesting support for concluding the Thailand-EU Free Trade Agreement this year.

During the courtesy call at Government House, PM Paetongtarn outlined her administration's economic strategy, explaining that the immediate focus remains on stimulating growth through tourism and trade, but the long-term vision centres on enhancing Thailand's competitive edge and investment climate.

"Our recent signing of the free trade agreement with EFTA nations marks Thailand's 16th such agreement and our first with European partners," the PM told the delegation. "This milestone should accelerate our ongoing negotiations with the European Union, which are crucial for maintaining supply chain resilience and competitiveness."

The January agreement with the European Free Trade Association—comprising Switzerland, Norway, Iceland and Liechtenstein—represents what government officials describe as a stepping stone towards the more comprehensive EU deal.

EU-ABC vice-chairman Noel Clehane expressed strong confidence in Thailand's economic prospects, describing the Kingdom as "a vital gateway to ASEAN" with "exceptional industrial infrastructure".

"European businesses remain firmly committed to Thailand, particularly impressed by the country's progress towards sustainability targets and post-pandemic recovery," Clehane remarked. "We firmly believe the proposed FTA will significantly strengthen our commercial relationship."
 

EABC representatives emphasised their willingness to collaborate with Thai authorities on economic transformation initiatives, highlighting digital transition, healthcare, financial services and tourism as promising sectors for enhanced cooperation.

The Brussels-based EU-ABC represents 78 major European corporations and nine chambers of commerce operating across Southeast Asia. Its Thai affiliate, the EABC Thailand, counts 156 member companies and serves as the official European Chamber of Commerce in the Kingdom.

A senior spokesperson from the Prime Minister's Office noted that joining the Organisation for Economic Co-operation and Development remains another priority for the administration, as the government seeks to implement international standards in business administration, anti-corruption measures and investment policies.