THAILAND plans to boost its economy and lure more foreign investors through the signing of free trade agreements with several countries.
Thailand’s Ministry of Commerce anticipates completion of three FTAs with the United Arab Emirates, Sri Lanka, and the European Free Trade Association in the second and third quarters of 2024.
The three markets are considered significant and will provide a combined trade value of up to 31 billion US dollars every year.
FTA negotiations with Sri Lanka have reached their sixth round and are expected to conclude by early 2024 while Thai officials are expecting to close a deal with the European Free Trade Association by mid-2024.
Meanwhile, negotiations with the UAE are expected to conclude within this year following four rounds of talks.
Free trade negotiations with the UAE started in July, with 80% of the discussions nearly completed.
