Deputy Commerce Minister Suchart Chomklin has directed the Trade Negotiations Department to accelerate free trade agreement (FTA) negotiations with other nations.
Mr Suchart said he told the department to push for FTA negotiations with trading partners to expand trade and investment opportunities, enhancing the country's competitiveness based on a government policy that prioritises improving the potential of Thai exports.
These efforts include concluding Thailand-Efta (European Free Trade Association), Thailand-EU and Asean-Canada FTA negotiations, while moving forward with new FTA talks with South Korea and Bhutan, he said. The ministry also wants to establish a revolving FTA fund to help sectors harmed by FTAs, such as farmers and small business operators, said Mr Suchart.
"I am confident the Trade Negotiations Department can move forward with FTA negotiations in various frameworks, in accordance with government policy. The Commerce Ministry is ready to provide budget support and cooperation with other ministries, as well as address any issues that may arise in the course of FTA negotiations," he said.
Chotima Iemsawasdikul, director-general of the department, said Thailand has 15 FTAs with 19 countries, the latest signed with Sri Lanka. Trade negotiations with Efta, the EU and on the Asean-Canada pact are continuing, while initial negotiations with South Korea and Bhutan have started, she said.
Ms Chotima said the department plans to leverage joint trade committee meetings as a mechanism to reduce trade barriers and foster economic cooperation with major trading partners such as Malaysia, China and the UK, participate in multilateral economic and trade negotiation forums such as the Asia-Pacific Economic Cooperation and World Trade Organization, and use FTAs to benefit Thailand's agricultural exports.
The department wants to establish an FTA fund to help sectors harmed by FTAs, as well as develop an information system on international trade negotiations to provide efficient services to entrepreneurs and the public.