Thailand and EU resume crucial free trade talks
Thailand has resumed negotiations with the European Union (EU) on a free trade agreement, with the aim of concluding these talks by 2025. These negotiations have been at a standstill since 2014, but have now been revived, as announced by Thai Trade Minister Phumtham Wechayachai.
Minister Phumtham emphasized that the focus of the negotiations is on sustainability, promoting trade and investment, and addressing issues such as market access, intellectual property rights and digital trade. This decision comes after recent meetings between Thailand's Trade Minister and representatives of the EU-Asean Business Council (EU-ABC) and the European Association for Business and Commerce (EABC). These meetings involved major companies such as Airbus and Michelin. The EU is currently Thailand's fourth largest trading partner, with significant trade in electronics, rubber products and pharmaceuticals.
In addition to these negotiations, Thailand is also working with the United States on joint investments in green technologies and medical research. These talks have been reinforced by Thai Prime Minister Srettha Thavisin's recent meetings with US investors during the 2023 APEC Summit in San Francisco.
These steps reflect Thailand's commitment to expanding its international trade relations and emphasizing its role in the global economy. The emphasis on sustainability and technological developments indicates a forward-looking approach in its trade policy.
The EU originally wanted to conclude such an agreement with ASEAN as an economic bloc earlier in the century, but the position of Myanmar, then still under the previous junta, was a major stumbling block. The current approach seems to me to be a better one because the differences in economic and other developments between the 10 ASEAN member states are large and much more specific agreements can be made in this way.
For those who want to know more about such free trade agreements - Free Trade Agreements - the following is worth reading:
https://www.consilium.europa.eu/en/eu-free-trade/#:~:text=The%20many%20faces%20of%20trade,economic%20partnership%20agreements%20(EPAs)
I read in Bangkokpost the day before yesterday that the EU had specifically halted talks with Thailand because of the May 2014 coup by the top army at the time. Now after the most recent elections, negotiations have restarted. https://www.bangkokpost.com/business/general/2697194/fta-talks-with-eu-to-get-reboot
Isn't that also stated in the article above?
What is ASEAN? Just an empty box, 57 years old. No free movement of persons or goods. Hopefully the EU will play hardball and demand equality of persons, bilateral agreements regarding income tax, so that we do not pay taxes on our income in BE/NL and also income tax from 2024 in TH. I think, no, I am sure that TH has much more to gain in terms of exports to the EU than the EU has to TH.
I suspect the latter too, Jan. And indeed, ASEAN is not exactly an example of a decisive organization. The ASEAN Secretariat, headquartered in Jakarta, is no more than, indeed, a secretariat, to which the member states have not delegated any powers.
During meetings, people paint the most beautiful views of integration and cooperation, but when push comes to shove, the individual countries simply follow their own plans.