EU group sees regional deals’ potential
Bangkok Post
EU group sees regional deals’ potential
Sujintana Hemtasilpa
16 November 2005
European Union (EU) trade organisations have called for regional free trade agreements to complement World Trade Organisation negotiations for a global open market.
Representatives made their comments at the two-day Asia Invest Forum Thailand 2005, which ended yesterday in Bangkok. The event was organised by the European Chambers of Commerce in Thailand.
Marco Felisati, representative of the Union of Industrial and Employers’ Confederations of Europe, said his organisation wanted to see next-month’s WTO ministerial meeting in Hong Kong lead to a more open global market.
He added that regional free trade agreements, which exclude players from other regions, should be monitored and prevented.
"We’re not against them (regional FTAs)," said Carlos Acosta, head of Trade Section of EC delegation to Thailand.
WTO rules are non-discriminatory, he said, adding that FTAs should complement what is negotiated at the WTO table.
Nevertheless, Sarasin Viraphol, executive vice-president of the Charoen Pokphand Group, said he did not think the WTO talks would lead to any concrete conclusions in the next two years.
However, it would be easier to conclude bilateral and regional free trade agreements (FTAs), he said.
"Businesses do not care whether it is the WTO’s multilateral agreements or bilateral FTAs. Any protocols that facilitate our businesses are good for us," he said.
Thailand has concluded FTAs with China and Australia, is close to implementing one with Japan and is at the midpoint of talks with the United States.
