Posted by on Oct 11, 2021 in Uncategorized |

[ii] Thailand has signed 12 agreements (6 bilateral and 6 multilateral) with 9 free trade agreements under negotiation or under leadership. These agreements could have a big influence on Thailand`s future trade and investment in the coming years. In addition to the Thai-American talks, Thailand has concluded a limited free trade agreement with Laos (1991) and another with China (only agriculture, 2003), signed framework agreements with Bahrain (stepping stone to a free trade agreement with the GCC, 2002), Peru (2003) and India (2003) and fairly comprehensive free trade agreements with Australia (2003), New Zealand (2005) and Japan (2007). [1] Some trade and investment agreements contain this mechanism, under which liberalisation measures taken by a Member State cannot be replaced by new restrictive measures. In November 2013, Thailand and the EU negotiated and concluded a Partnership and Cooperation Agreement (PCA) which provides a comprehensive framework for EU-Thailand relations and will open up vast opportunities for the development of cooperation. The EU`s comprehensive approach to bilateral relations with Thailand is set out in the Council conclusions of December 2017. At the regional level, Thailand is a member of ASEAN and is therefore part of the ASEAN Free Trade Agreement with China, Korea, India, Australia/New Zealand and the EU. It is also part of BIMSTEC and was, at least under Thaksin, the protagonist who committed to strengthening trade and investment integration in the Mekong region under ACMECS, a framework for cooperation between Burma, Cambodia, Laos, Thailand and Vietnam. Thailand has been a member of the WTO since its inception in 1995.

Thailand lags behind other ASEAN members, especially its regional neighbors like Singapore, and has fewer free trade agreements (and therefore fewer FTA trading partners). Singapore currently has about twenty free trade agreements in force and more than 31 trading partners around the world from America (United States, Costa Rica, Peru, Chile, Panama), Europe (EU and EFTA) via Jordan and the Gulf countries (GCC) or regions. Thailand is one of the 10 members of the Association of Southeast Asian Nations (ASEAN), the region`s second largest economy in terms of GDP (17%) and the EU`s fourth largest trading partner in ASEAN. Thailand chairs ASEAN for 2019. In addition to these examples, there is a specific FTA term called “ratchet mechanism”[1] or “Automatically initiates the unilateral liberalization of new services under this agreement.” According to the ranking and compared to the previous year, almost all difficulties have increased, including Thailand`s border trade (55 last year and 56 this year). For example, in the past, supply chains have identified barriers typically related to facilitating trade in physical infrastructure, as well as administrative barriers and delays in customs and import-export processes in Thailand. This delay was most common with respect to transporting the standard load from the factory gate to the port, and then the additional process with administrative and port requirements until the cargo was loaded onto a ship. [ii] Thailand continues to address concerns that affect trade facilitation and is constantly looking for ways to improve the processes of moving products to and from the country.

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