Thailand and UAE to open talks for an FTA next month
Thailand will open negotiations with the United Arab Emirates (UAE) on May 9 for a free trade agreement (FTA), in a bid to boost the country's export competitiveness to Middle Eastern countries.
Commerce Minister Jurin Laksanawisit said on Tuesday that the ministry had talked with the UAE about this issue during his visit in February.
He said the negotiations would focus on the number of agreements and their details.
"It will be a historic day that we can kick off FTA negotiations with the UAE within three months," he said.
He expects to get export tariff exemption from the six members of the Gulf Cooperation Council, namely Saudi Arabia, Kuwait, Oman, UAE, Qatar and Bahrain.
"This FTA will help pave the future for Thailand and generate revenue for the country," he said, "We are walking on the right way to the Middle East," he added.
Bilateral trade between Thailand and the UAE totalled around 700 billion baht annually, accounting for 3.5% of Thailand’s total trade.
Thailand currently has 14 FTAs with 18 countries. The number of partner countries could rise to 46 if new FTAs with 27 countries under the European Union and the UAE succeed.
Thailand and the EU will relaunch FTA negotiations in July, aiming to reach a deal by 2025.
