Vital European Union free trade deal with Thailand with stiff demands from Brussels to take time

[webfact]

In January, while on a two-day visit to Brussels, the Minister of Commerce, Jurin Laksanawisit was clear that the time was right to commence talks on a trade deal and that it would be beneficial to Thailand. However, he cautioned that it would take some time to get such a deal over the line and into effect.
 

by Joseph O' Connor

The European Commission this week spoke of an ‘ambitious’ free trade deal with ‘sustainability’ at its core. This particular trade pact is a key one for Thailand’s manufacturing and export sector with the European Union not only being the kingdom’s fifth largest trading partner but also a key market for industries considering Thailand as a base as firms move production from China and Taiwan into the ASEAN region.

Thailand and the European Union are to commence formal talks on a free trade agreement, the European Union confirmed this week following a formal approach in January by the Minister of Commerce Jurin Laksanawisit on a visit to Brussels. However, the elusive trade pact, the absence of which has left Thailand at a disadvantage to both Singapore and Vietnam in attracting inward investment, will take a long time to finalise and the kingdom may well be faced with a range of onerous demands.

 

Thailand and the European Union, this week, announced the beginning of formal talks towards a free trade agreement between the kingdom and the 27-member bloc.

 

Full story: https://www.thaiexaminer.com/thai-news-foreigners/2023/03/16/european-union-thailand-free-trade-deal-talks-to-begin/

 

-- © Copyright Thai Examiner 2023-03-17

 

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[Barley]

It always takes a little longer with the EU, since 27 member states need to sign off.

[daveAustin]

3 hours ago, webfact said:

However, the elusive trade pact, ……. will take a long time to finalise and the kingdom may well be faced with a range of onerous demands.

Indeed. Get ready for a mountain of bureaucracy!

[hotchilli]

3 hours ago, webfact said:

Thailand and the European Union, this week, announced the beginning of formal talks towards a free trade agreement between the kingdom and the 27-member bloc.

The EU need to screw Thailand down with small print, and monitor them every second.

Thailand and free trade is a joke from the start.

[jacko45k]

Just now, hotchilli said:

The EU need to screw Thailand down with small print, and monitor them every second.

Thailand and free trade is a joke from the start.

Thailand will be given a mountain of rules and regulations, which, like China would, gets tossed into a corner and forgotten. 

[IAMHERE]

What is an example of an onerous demand ?  

[ChrisY1]

2 minutes ago, IAMHERE said:

What is an example of an onerous demand ?  

Maybe a reduction in Thailand' exorbitant import duties for one.....a FTA should really eradicate these duties....but here, import taxes are a major revenue source.

[IAMHERE]

1 minute ago, ChrisY1 said:

Maybe a reduction in Thailand' exorbitant import duties for one.....a FTA should really eradicate these duties....but here, import taxes are a major revenue source.

Ok, I'd of thought a free trade agreement  meant no import duties at all. Thailand should first try a free trade agreement with the UK now that they've left the EU, 

[edwinchester]

1 hour ago, IAMHERE said:

Ok, I'd of thought a free trade agreement  meant no import duties at all. Thailand should first try a free trade agreement with the UK now that they've left the EU, 

Thailand is currently negotiating a trade deal with the UK and will almost certainly get a more advantageous deal than with the EU simply because the UK are desperate for any deal after the Brexit debacle. 

[John Drake]

3 hours ago, IAMHERE said:

What is an example of an onerous demand ?  

Fair trade.

[kimamey]

6 hours ago, daveAustin said:

Indeed. Get ready for a mountain of bureaucracy!

Shouldn't be problem since Thais seem to love paperwork.

They could ask advice from the UK since they now have to deal with a lot more after leaving the EU and losing the trade advantages gained by Margaret Thatcher

[transam]

On 3/17/2023 at 9:13 AM, edwinchester said:

Thailand is currently negotiating a trade deal with the UK and will almost certainly get a more advantageous deal than with the EU simply because the UK are desperate for any deal after the Brexit debacle. 

But, a deal is a deal, without the BS the EU would attach...............????

[transam]

2 minutes ago, edwinchester said:

Delusional and in self denial but that's what happens when brexit cultists can't face that they've been suckered by a huge lie.

I haven't...................????

[jacko45k]

15 hours ago, edwinchester said:

Talking of cars, just this week the world's largest maker of electric cars, BYD, ruled out building their proposed European plant in the UK placing the blame purely on brexit.

Been mulling it over for 7 years have they? 

We got Aston Martin so the BYD go carts can go where they choose!

[edwinchester]

1 hour ago, jacko45k said:

Been mulling it over for 7 years have they? 

We got Aston Martin so the BYD go carts can go where they choose!

Yes and BYD will be locating their mega factory somewhere in Europe now. BYD are launching their range of vehicles in the UK right now, they could have been built and supplied with parts manufactured in the UK but that ain't happening now. Glad that you think that Aston Martin will be mass producing affordable electric vehicles for everyone, I'll pop into a showroom on my next trip back to blighty and look at my options.

[hotchilli]

On 3/17/2023 at 3:23 AM, webfact said:

The European Commission this week spoke of an ‘ambitious’ free trade deal with ‘sustainability’ at its core. This particular trade pact is a key one for Thailand’s manufacturing and export sector with the European Union not only being the kingdom’s fifth largest trading partner but also a key market for industries considering Thailand as a base as firms move production from China and Taiwan into the ASEAN region

The first question the EU should ask is will Thailand drop the "luxury tax"...

 

[metisdead]

Off topic posts and replies about Brexit have been removed.