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FTA Talks Between Thailand and UAE Nearing Conclusion
Thailand and the United Arab Emirates are close to finalizing their free trade agreement, with 80% of the discussions already completed. It is expected to be completed by the end of the year and could boost Thailand’s GDP and exports.
BANGKOK (NNT) – The Commerce Ministry has reported that Thailand and the United Arab Emirates (UAE) are nearing the conclusion of their free trade agreement (FTA) negotiations, with approximately 80% of the discussions already completed. It is anticipated that both countries will finalize the FTA by the end of this year.
During the fourth round of Thai-UAE FTA negotiations in Bangkok on September 26-28, 2023, Commerce Minister Phumtham Wechayachai stated that he discussed various issues with UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi. As a result, both sides have reached agreements in various areas such as food, agricultural products, air conditioners, and car components. He added that the talks are about eighty percent complete and that both sides plan to conclude discussions by the end of 2023.
Department of Trade Negotiations Director-General Auramon Supthaweethum disclosed that the fourth round of talks involves discussions on five major areas which are trade in goods, trade remedies, legal and institutional matters, rules of origin, and trade in services and digital trade. Preliminary conclusions were reached for some panel discussions, such as customs procedures, intellectual property rights, investments, and other areas.
The Thai-UAE FTA, if finalized, could boost Thai GDP by 318-357 million US dollars and exports by 190-243 million dollars.
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