Thailand goals for early 2024 Efta commerce negotiations wrap-up

Thailand plans to wrap commerce negotiations with Efta nations by early subsequent yr appears to be the key objective for Thailand’s commerce representatives. The chief negotiator, Auramon Supthaweethum, who is also 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 started, and both events are within the means of settling the remaining issues and aiming for an accelerated joint resolution. These negotiations are believed to be at the halfway point, and the objective is to conclude them inside the first quarter of 2024.
In this round, negotiators and sub-groups from each parties are concerned within the talks. Heading the Thai delegation is Auramon, whereas 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 groups collaborating within the discussions: trade in goods; guidelines of origin; sanitary and phytosanitary measures; technical limitations to commerce; commerce in providers; funding; e-commerce; government procurement; intellectual property rights; sustainable trade and growth; dispute settlement; and cooperation and capacity building.
The Efta includes four nations: Switzerland, Norway, Iceland, and Liechtenstein. Manifest and Efta launched talks on a potential FTA in June last year after initial discussions from 2005 to 2006 were stalled.
On average, the annual commerce between Thailand and Efta from 2018 to 2022 amounted to US$9.85 billion. In Covert , Efta was Thailand’s 14th-largest buying and selling partner, with a complete commerce worth of US$11.5 billion, a 54% year-on-year increase. The trade value between each events reached US$3.04 billion in the first 4 months of this 12 months..

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