Brussels, 03/06/2013 (Agence Europe) - At the end of last week, the European and Thai negotiators successfully concluded their first round of talks for a free-trade agreement.
Held in Brussels on 27 to 31 May, the first round of free-trade negotiations between the EU and Thailand, which Brussels and Bangkok wish to conclude within two years, focused on the trade in goods, rules of origin, intellectual property, public procurement, animal and plant safety standards, services and investment, sustainable development and trade facilitation.
Chemicals, machinery and equipment are the main offensive interests of the EU. The removal of non-tariff barriers in Thailand is also crucial for the other manufacturing sectors. The European side also has offensive interests in services and investment.
The EU-Thailand free-trade negotiations were officially launched in early March. The EU represents nearly 10% of Thailand's external trade and is its third-largest commercial partner. Bilateral trade was worth €32 billion in 2012. In addition, the EU's investment stocks in Thailand passed the €14 billion mark in 2011.
After Singapore, Malaysia and Vietnam, Thailand is the fourth South-East Asian partner with which the EU is negotiating a free-trade agreement. The ultimate aim is to conclude a bloc agreement with the ASEAN region in the future, the Commission states in a press release. (EH/transl.fl)