Thai PM to visit Europe, aiming to bolster trade and investment

[webfact]

 

Prime Minister Srettha Thavisin of Thailand is set to travel to Germany and France in an official capacity. The visit, scheduled for March 7 to March 14, aims to bolster trade and investment between Thailand and these European nations.

 

Accelerating the completion of a Free Trade Agreement (FTA) and advocating for visa exemptions for Thai passport holders are top priorities.

 

Government spokesperson Chai Wacharonke emphasised the visit’s objectives, highlighting the intent to boost investor confidence in Thailand’s trade and investment potential. Alongside the FTA negotiations, he mentioned the discussions on visa exemptions for Thai passport holders.

 

“Other key issues on the agenda include sustainable economic development, clean energy, and addressing environmental challenges.” He added that the prime minister will accentuate the significance of elevating relations with Germany and France, aiming to establish them as strategic partners.

Throughout the week-long visit, PM Srettha is expected to engage with business leaders from a range of industries, including aviation, automobile, tourism, fashion, and retail. His itinerary also includes attendance at key events like ITB Berlin 2024, MIPIM 2024 and a speech at the annual reception of the German Association for Small and Medium-Sized Businesses.

The government spokesman revealed in early February that Thailand aspires to finalise an FTA with the EU by next year, with the third round of talks due in June. As per the Commerce Ministry’s Department of Trade Negotiations, the EU is currently Thailand’s fourth-largest trade partner.

 

“Trade value stood at US$34.8 billion within the first ten months of 2023,” said Chai. He noted that major exports include computers, gems, jewellery, air conditioners, and electronic circuits, while key imports are machinery, pharmaceutical products, electric machines, and chemical products.

 

Trade discussion

 

The initial FTA discussions between Thailand and the EU were launched in 2013 but were suspended in 2014 due to the military takeover in Thailand. With advancements in Thailand’s democratisation process, the European Council adopted an approach of gradual re-engagement in 2017 and 2019, which culminated in the signing of the Partnership and Cooperation Agreement in December 2022.

 

The council’s conclusions in 2017 and 2019 encouraged the European Commission to consider resuming FTA talks with Thailand, highlighting the importance of taking steps in this direction. The EU Indo-Pacific Strategy 2021 further asserted the EU’s longstanding interest in resuming FTA negotiations with Thailand. Currently, the EU has comprehensive FTAs with two ASEAN countries, Singapore and Vietnam, reported Bangkok Post.

 

Srettha’s visit to Germany and France follows his recent trip to Australia for the 2024 ASEAN-Australia Special Summit in Melbourne, commemorating 50 years since Australia became ASEAN’s first dialogue partner. Post-visit, the prime minister expressed optimism about the benefits of this visit for Thailand and its people, promising to advocate for connectivity and the green agenda.

 

by Mitch Connor

Picture courtesy of Thai Government

 

Source: The Thaiger 2024-03-07

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

 

[bamnutsak]

The PM seems to have abdicated his position of PM and assumed the role of traveling salesman.

 

He's just back from Australia and we're subject to a fire-hose of "pronouncements", most of the "Hub" variety.

 

Has he accomplished anything? In Thailand? Has he closed any "deals"?

 

If his was a real job he'd be on a performance improvement plan pending termination for cause.

[spidermike007]

Another opportunity to work the $800 million smile, check out some new 5 star hotels, eat in the latest Michelin starred restaurants, and drink the recent vintage of Lafite, Margaux and Domaine Romanee-Conti. It is very unlikely he will accomplish anything productive, as that is not what this do nothing PM is all about.

[scorecard]

56 minutes ago, spidermike007 said:

Another opportunity to work the $800 million smile, check out some new 5 star hotels, eat in the latest Michelin starred restaurants, and drink the recent vintage of Lafite, Margaux and Domaine Romanee-Conti. It is very unlikely he will accomplish anything productive, as that is not what this do nothing PM is all about.

Seems to me he's focused on one thing 'the property market' and not much more.

He may well be quite an expert at property development matters but I rather doubt he has much / any knowledge of national economics etc. 

[sammieuk1]

The Putin Xi lover is on his way tell him to do one 🤔

[hotchilli]

6 hours ago, webfact said:

Prime Minister Srettha Thavisin of Thailand is set to travel to Germany and France in an official capacity. The visit, scheduled for March 7 to March 14, aims to bolster trade and investment between Thailand and these European nations.

Thailand is in an economic crisis and desperation is setting in as Srettha tours the world looking for investment and trade deals...

It's only the sex trade that lures tourism into Thailand that's keeping it afloat.

 

[hotchilli]

19 minutes ago, sammieuk1 said:

The Putin Xi lover is on his way tell him to do one 🤔

Looking for trade deals in Europe, what a short memory Thailand has.

[spidermike007]

1 hour ago, scorecard said:

Seems to me he's focused on one thing 'the property market' and not much more.

He may well be quite an expert at property development matters but I rather doubt he has much / any knowledge of national economics etc. 

And the made him not only PM, but also finance minister. Either there is a total disconnect, they are showing a huge lack of regard for the nation, its people, and its future, or they are all out to lunch. 

[cncltd1973]

if it's money they want, then don't send a man to do a woman's job

[cncltd1973]

1 hour ago, spidermike007 said:

And the made him not only PM, but also finance minister. Either there is a total disconnect, they are showing a huge lack of regard for the nation, its people, and its future, or they are all out to lunch. 

or all of the above

[Srikcir]

Getting trade deals through Free Trade Agreements (FTA) is a quick and legal s8mple way to increase exports that Thailand needs to jump start its GDP. A deal with the EU versus individual European nations (UK not being in the EU) should be very successful for Thailand with improved GDP results within a year.

 

HOWEVER, FTA's do not come about without other economic consequences. Namely, as the party that initiates a FTA, Thailand will need to add a sweetner - Outgoing Foreign Direct Investment that incentives the foreign enterprises within the foreign country to set up the import supply chains. Traditionally, I have seen Thailand as being focused on only Incoming FDI's. More of an economic policy of "What can you for Thailand? That attitude has to change.

[zhounan]

FTA with Thailand would be another disastrous move for European countries.

[zhounan]

I would suggest him to wear pink socks during the meeting with the petit roi macron.

[liddelljohn]

He has the begging bowl out again