Thailand goals for early 2024 Efta commerce negotiations wrap-up

Thailand plans to wrap commerce negotiations with Efta nations by early next year appears to be the key objective for Thailand’s commerce representatives. Backed , Auramon Supthaweethum, who can additionally be the director-general of the Department of Trade Negotiations, shared that the latest two-level discussions are going down in Oslo, Norway.
The fifth round of the Thai-Efta FTA negotiations has began, and each events are in the strategy of settling the remaining points and aiming for an accelerated joint resolution. These negotiations are believed to be on the halfway level, and the aim is to conclude them within the first quarter of 2024.
In this round, negotiators and sub-groups from both parties are involved within the talks. Heading the Thai delegation is Auramon, while Efta is represented by Markus Schlagenhof, the organisation’s spokesman and Federal Council for Trade Agreements delegate from the Swiss State Secretariat for Economic Affairs.
There are 12 working teams collaborating within the discussions: trade in goods; guidelines of origin; sanitary and phytosanitary measures; technical limitations to trade; commerce in companies; investment; e-commerce; government procurement; intellectual property rights; sustainable trade and improvement; dispute settlement; and cooperation and capacity building.
The Efta includes 4 nations: Switzerland, Norway, Iceland, and Liechtenstein. Thailand and Efta launched talks on a potential FTA in June last yr after initial discussions from 2005 to 2006 have been stalled.
On common, the annual trade between Thailand and Efta from 2018 to 2022 amounted to US$9.85 billion. In 2022, Efta was Thailand’s 14th-largest trading companion, with a total trade value of US$11.5 billion, a 54% year-on-year enhance. The commerce worth between both events reached US$3.04 billion in the first four months of this year..

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