Progress made on free trade agreement with Thailand

03 May 2023 11:48

Swiss Business Hub ASEANLiechtenstein

Geneva - Negotiations between the EFTA States and Thailand on a free trade agreement are moving forward. Significant progress has reportedly been made in this fourth round, and there is a stated intention to arrive at an agreement quickly.

Thailand and the States of the European Free Trade Association (EFTA) – Switzerland, Liechtenstein, Norway and Iceland – have held their fourth round of negotiations on a free trade agreement. According to an EFTA press release, “significant progress” was made during the five-day discussions, “and the common spirit of a swift conclusion continues.”

The press release states that negotiations focused on trade in goods, rules of origin, trade in services and investment. Trade remedies, dispute settlement, government procurement, sustainable development, cooperation and capacity building and intellectual property rights were also discussed.

In 2022, bilateral merchandise trade between the EFTA and Thailand exceeded $3.5 billion. Clocks and watches, fish and crustaceans, and pharmaceutical products were the main exports from EFTA States to Thailand, while electronic machinery, clocks and watch parts, and iron structures were the primary imports from Thailand. ce/mm

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