European Union trade deal talks to begin

The European Commission this week spoke of an ‘ambitious’ free trade deal with ‘sustainability’ at its core. This particular trade pact is a key one for Thailand’s manufacturing and export sector with the European Union not only being the kingdom’s fifth largest trading partner but also a key market for industries considering Thailand as a base as firms move production from China and Taiwan into the ASEAN region.

Thailand and the European Union are to commence formal talks on a free trade agreement, the European Union confirmed this week following a formal approach in January by the Minister of Commerce Jurin Laksanawisit on a visit to Brussels. However, the elusive trade pact, the absence of which has left Thailand at a disadvantage to both Singapore and Vietnam in attracting inward investment, will take a long time to finalise and the kingdom may well be faced…