The fourth round of negotiations for the Thailand-European Union free trade agreement (FTA) finished with conclusions on the good regulatory practices and transparency chapters.
Good regulatory practices include the dissemination of information and public hearings on rules and regulations. Transparency is aimed at creating transparent laws, regulations and relevant processes.
Chotima Iemsawasdikul, director-general of the Trade Negotiations Department, said the fourth round of talks from Nov 25-29 in Bangkok went well, with progress on all chapters.
Both parties also started discussions on the modalities and timelines for submitting proposals on market access for goods, services and government procurement between them.
In addition, they planned online intersessional meetings for all groups to ensure the fifth round of talks is successful and allows for additional agreements to be finalised.
This round of negotiations is scheduled for late March 2025 in Brussels, Belgium.
In 2023, the EU was Thailand's fifth-largest trading partner, after Asean, China, the US and Japan, with total bilateral trade amounting to US$41.7 billion, up 1.75% year-on-year.
Exports to the EU totalled $22 billion, down by 3.68% year-on-year, while imports from the EU were valued at $19.8 billion, up by 8.55%.
In the first 10 months of this year, bilateral trade totalled $36.4 billion, up by 3.42% year-on-year.
Thailand's exports to the EU tallied $20.1 billion, up by 9.28%, while imports from the EU totalled $16.3 billion, down by 2.99%.
The negotiation leaders also attended a "Progress and Prospects in the EU-Thailand FTA Negotiations" talk hosted by the European Association for Business and Commerce.
The talk covered benefits and opportunities for businesses, with participation from European investors in Thailand and representatives from the Thai private sector.