Thailand is expected to finalise free trade agreements (FTAs) with the European Free Trade Association (EFTA), Sri Lanka and the United Arab Emirates (UAE) in the second and third quarters of next year, which will increase trade volume between Thailand and the three export markets by about US$31 billion, or one trillion baht, annually.
Auramon Supthaweethum, director-general of the Department of Trade Negotiations, said that, after four rounds of negotiations, she expects the FTA between Thailand and the UAE to be the first to be concluded, possibly before the end of this year.
She said that the UAE enjoys high purchasing power from its citizens, foreign workers and tourists. As such it is an ideal logistical hub for the distribution of Thai products to other markets in the Middle East.
According to a study of market potential, the FTA with the UAE has the potential to increase Thai…
