Thailand is pushing for free trade agreement (FTA) negotiations with its trading partners in order to expand trade and investment opportunities, strengthen the Thai economy, and generate more income for the country.

Government Spokesperson Chai Wacharonke said that the Government is aware of the importance of FTA negotiations, as a tool to enhance Thailand’s competitiveness and increase its exports to the world market.

According to statistics compiled by the Department of International Trade Negotiations, Thailand currently has 14 FTAs with 18 trading partners, namely China, Japan, South Korea, Australia, New Zealand, India, Peru, Chile, Hong Kong, and nine ASEAN member countries.

It is also in the process of negotiating 11 FTAs to increase trade and investment with trading partners in various regions. Out of this number, five involve improving agreements with the existing partners, while the remaining six involve developing new trade and investment connections.

Thailand recently concluded FTA negotiations with Sri Lanka, and their FTA is scheduled to be signed in early February 2024. It has set a target to sign another three FTAs this year with the following countries.

1. South Korea for additional free trade measures beyond the existing ASEAN – Republic of Korea FTA;

2. United Arab Emirates for the promotion of Thai exports to the Middle East;

3. European Free Trade Association (EFTA) for boosting cooperation in technology and innovation.

In 2025, Thailand plans to hold negotiations for an FTA with the European Union to enhance competitiveness in exporting more Thai products to the European market.

The Government Spokesperson stated that Thai entrepreneurs would benefit from FTAs, such as trade privileges and tax reduction and exemption. The Government was ready to listen to the views of all stakeholders before holding FTA negotiations to ensure that the people would benefit from them.

He pointed out that the Prime Minister emphasizes the policy of “proactive economic diplomacy,” trade and investment facilitation, and FTA negotiations for the strong growth of the Thai economy.