Thailand and UK Discuss Prospects for Free Trade Agreement

[webfact]

Picture courtesy: Thai Rath

 

Thailand's Commerce Minister, Phichai Naripatapan, recently held discussions with British Ambassador Mark Gooding to explore economic cooperation between Thailand and the United Kingdom. Central to their talks was the potential development of a Free Trade Agreement (FTA) aimed at boosting trade and investment ties between the two countries.

 

Meeting earlier this month, Phichai and Gooding reaffirmed both nations' commitment to enhancing trade relationships through mechanisms such as the Joint Economic and Trade Committee (JETCO). These discussions aim to foster an improved business climate and facilitate trade and investment under the Enhanced Trade Partnership umbrella, covering key sectors like agriculture, tourism, and healthcare.

 

Phichai also mentioned a memorandum of understanding signed in September with Douglas Alexander, the UK's Trade Minister, which supports hosting the second JETCO meeting in 2025. This meeting will coincide with celebrations of 170 years of diplomatic relations between Thailand and the UK.

Furthermore, Thailand emphasised that strengthening their trade partnership could lay the groundwork for future FTA negotiations. An agreement could significantly enhance trade value and investment, a sentiment echoed by business communities in both countries.

 

Lastly, Thailand expressed gratitude to the UK for supporting its potential membership in the OECD and committed to facilitating smoother foreign trade and investment processes within the country, particularly in targeted industries like electronics, data centres, and pharmaceuticals.

 

Throughout the first ten months of 2023, the UK was Thailand's 22nd largest global trading partner and fourth within Europe, with a bilateral trade value of $5.54 billion. Thailand enjoyed a trade surplus, exporting significant goods like processed chicken and automotive parts to the UK, reported Thai Rath.

 

-- 2024-12-09

 

 

[BarBoy]

Why doesn't mark gooding highlight the despicable nature of dual-pricing and 90 day reports as well? 

[Captain Flack]

Off topic post removed, this is not about UK frozen pensions. If you want to discuss that there are plenty of topics already running.

[trainman34014]

A  'Free Trade Agreement' should mean very low or zero Tariff's on each others goods entering the Country.  Unless Thailand agrees to zero or low Tariffs on British goods entering Thailand then Britain should not sign up to any 'deal'.

[hotchilli]

4 hours ago, webfact said:

Thailand's Commerce Minister, Phichai Naripatapan, recently held discussions with British Ambassador Mark Gooding to explore economic cooperation between Thailand and the United Kingdom.

Maybe the ambassador could ask the commerce minister to explain the extreme high import prices and luxury taxes on British goods sold in Thailand.

Then add that similar tariffs would appear on Thai exported goods.

[chilly07]

Need to  include unfreezing UK State Pensions to ensure UK expats not excluded just as the UK has done post Brexit with 27  EU nations. This is relevant to all free trade agreements!

[quake]

Free trade with Thailand.

 

 

[DonniePeverley]

Racists and Brexit. 

 

What does the UK export that would be of interest for a free trade? With the EU and German cars i can understand. 

[DonniePeverley]

4 hours ago, hotchilli said:

Maybe the ambassador could ask the commerce minister to explain the extreme high import prices and luxury taxes on British goods sold in Thailand.

Then add that similar tariffs would appear on Thai exported goods.

 

If they could get a free trade deal agreement with the EU so the cost of BMW's and Meredes and German cars came down would be awesome. The prices in Thailand are nearly double what we pay in the UK - yet you see loads about here in Bangkok. 

[DonniePeverley]

Researching some UK products to export for Thailand - 

 

Scottish Whiskey

Weapons

Chocolate

 

Doesn't really get you excited if i was a Thai. What does Thailand export?

 

A free trade arrangement with the EU with the UK as a collective would be more beneficial for Thailand. 

[John Drake]

1 hour ago, DonniePeverley said:

Researching some UK products to export for Thailand - 

 

Scottish Whiskey

Weapons

Chocolate

 

Doesn't really get you excited if i was a Thai. What does Thailand export?

 

A free trade arrangement with the EU with the UK as a collective would be more beneficial for Thailand. 

 

Lots of British on this forum are always talking about cheese. Maybe the UK could export cheaper cheese to Thailand. 

[Rolo89]

It's nearly 2bn a year the UK exports to Thailand. 

 

United Kingdom Exports to Thailand	Value	Year
Machinery, nuclear reactors, boilers	$605.29M	2023
Electrical, electronic equipment	$287.88M	2023
Vehicles other than railway, tramway	$161.17M	2023
Aluminum	$85.84M	2023
Pearls, precious stones, metals, coins	$82.65M	2023
Pulp of wood, fibrous cellulosic material, waste	$69.08M	2023
Pharmaceutical products	$66.83M	2023
Optical, photo, technical, medical apparatus	$66.42M	2023

 

https://tradingeconomics.com/united-kingdom/exports/thailand

[hotchilli]

8 hours ago, DonniePeverley said:

Doesn't really get you excited if i was a Thai. What does Thailand export?

Just for starters the CPO group exports a lot of goods.

[John Drake]

11 hours ago, Rolo89 said:

It's nearly 2bn a year the UK exports to Thailand. 

 

United Kingdom Exports to Thailand	Value	Year
Machinery, nuclear reactors, boilers	$605.29M	2023
Electrical, electronic equipment	$287.88M	2023
Vehicles other than railway, tramway	$161.17M	2023
Aluminum	$85.84M	2023
Pearls, precious stones, metals, coins	$82.65M	2023
Pulp of wood, fibrous cellulosic material, waste	$69.08M	2023
Pharmaceutical products	$66.83M	2023
Optical, photo, technical, medical apparatus	$66.42M	2023

 

https://tradingeconomics.com/united-kingdom/exports/thailand

 

Thailand has nuclear reactors?