EU, Thailand to start FTA negotiations
Tax-News.com, Brussels | 07 November 2012
EU, Thailand to start FTA negotiations
by Urika Lomas
During the recent official visit to Thailand of the President of the European Commission, José Manuel Barroso, prospects of a European Union (EU)-Thailand partnership cooperation agreement (PCA) and free trade agreement (FTA) were central topics during discussions with Yingluck Shinawatra, Prime Minister of Thailand.
Both leaders held discussions on the strengthening of commercial and investment relations between Thailand and the EU, including the promotion of tourism. The Thai Prime Minister invited the EU to take advantage of Thailand’s strategic location to intensify the EU’s trade and investment relations with the Association of Southeast Asian Nations (ASEAN).
At the same time, as the cornerstones to a strengthening of bilateral relations, the leaders stated their firm commitment to an early conclusion of the Thailand-EU PCA and the launch of negotiations on an FTA in early 2013.
Thailand would then become the fourth ASEAN member state negotiating an FTA with the EU. In 2007, the EU member states agreed to launch negotiations on a region-to-region FTA with ASEAN, but those were put on hold in 2009 when the European Commission decided to pursue free trade talks with ASEAN countries in a bilateral format, whilst preserving the strategic objective of a region-to-region FTA for a later date.
