Pichai meets Swiss, Norwegian envoys to push FTA with European group

The Commerce Ministry held discussions with the representatives of Switzerland and Norway to push for finalisation of the free trade agreement (FTA) between Thailand and the European Free Trade Association (EFTA).

Established in 1960, the EFTA bloc comprises Switzerland, Norway, Iceland and Liechtenstein, aiming to promote free trade and economic integration among its members, within Europe and globally.

Commerce Minister Pichai Naripthaphan said on Friday that he met with Helena Budliger Artiega, Swiss state secretary for economic affairs, as well as the ambassadors of Switzerland and Norway in Thailand to discuss the progress of FTA negotiations with the EFTA. He underscored that the negotiations were now in the final phase and should wrap up before the end of 2024 as expected by all parties.

Pichai said the latest, the 10th round of negotiations that took place in August, saw significant progress with only a few issues needing further discussions with both Switzerland and Norway. He expressed confidence that the talks with the envoys of the two countries would help resolve the issues and allow the agreement with the EFTA to be concluded within this year.

Negotiations between the EFTA and Thailand first began in 2005 but halted a year later, before being revived again in 2022. The Commerce Ministry has made the FTA deal with the EFTA as one of its top priorities, as the collaboration could improve Thailand’s competitiveness in technology and innovation, which are one of the bloc’s strengths.

In 2023, the EFTA was Thailand’s 16th biggest trade partner, with a total trade volume of US$9.88 billion, or 1.72% of total foreign trade.

Key export products to EFTA include gems and jewellery, watches and components, iron products, air-conditioners and travel gears. Key import products from the four EFTA countries included jewellery, silver, gold, watches, meat, medical and pharmaceutical equipment.