Negotiations Started in 2010
Suspended in 2014 Due to Thailand Coup
EU, Thailand's 4 Major Trading Partners
[Asia Economy Reporter Kim Junran] Thailand and the European Union (EU) have agreed to resume free trade agreement (FTA) negotiations after nine years.
According to Reuters on the 26th, Jurin Laksanawisit, Thailand's Minister of Commerce, met with Valdis Dombrovskis, the EU Executive Vice President for Trade, in Brussels, Belgium, and said they agreed to restart negotiations within the first quarter of this year.
Commissioner Dombrovskis also stated, "Both sides want to conclude a comprehensive and high-level agreement."
Previously, Thailand and the EU began FTA negotiations in 2010. However, after a coup occurred in Thailand in May 2014, the EU imposed diplomatic sanctions, leading to a complete halt of the FTA negotiations.
As a result, the EU severed relations with Thailand by suspending official visits by high-ranking officials and agreement signings. After more than three years, in December 2017, the EU began gradually restoring political relations with Thailand.
At that time, the EU said in a foreign ministers' statement, "If a democratic government is established under the new constitution, discussions on various cooperation agreements, including the FTA with Thailand, can be considered."
Prayut Chan-o-cha, who led the coup, won the 2019 general election and extended his administration. Since then, relations between the EU and Thailand have improved, leading to the reopening of FTA negotiations after about nine years.
Meanwhile, the EU is one of Thailand's top four trading partners, mainly exporting automobile parts, electrical equipment, and agricultural products.
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