Thailand aims for 80% global trade coverage with new FTAs by 2027

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Thailand is aiming to expand its free trade agreements (FTAs) to cover 80% of its global trade with over 50 countries by 2027, according to Auramon Supthaweethum, director-general of the Trade Negotiations Department. The department is exploring the feasibility of establishing new FTAs with various countries and trade blocs, including Israel, Bhutan, South Korea, the Pacific Alliance, the Southern African Customs Union, and the Gulf Cooperation Council (GCC).

The private sector has also expressed interest in forming an FTA between Thailand and the Mercosur trade bloc in South America, which comprises Argentina, Brazil, Paraguay, Uruguay, and Venezuela. Thailand currently has 14 FTAs in place with 18 countries, accounting for 60.9% of its total trade. In 2022, trade between Thailand and its FTA partners reached US$360 billion, a 5.1% increase from the previous…

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