Minister of Commerce starts counting one FTA Thai-United Arab Emirates (UAE) reiterates creating a handicap for “Products-services-investment” Thailand indicates that if all negotiations are successful make money instantly The first year, entering Thailand, more than 70,000 million baht
Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce remarked after a meeting with Dr. Thani bin Ahmed Alzeudi (HE Dr. Thani bin Ahmed Al Zeyoudi), Minister of State for the Ministry of Economy united arab emirates Responsible for foreign trade via teleconferencing system at the Renaissance Hotel Phuket The outcome of the discussion is a historic announcement of trade and investment between Thailand and the United Arab Emirates (UAE), counting the opening of negotiations for an FTA between Thailand and the United Arab Emirates. Everything was done extremely fast. Since he led a delegation of the Ministry of Commerce and the private sector to visit the UAE on February 7, after only 3 months, he was able to announce the start of negotiations for an FTA between them, known as CEPA, which will The negotiations began on May 16-18, when the UAE hosted the first senior officials' meeting in Dubai. The goal is to be completed within 6 months.
However, if everything is on target. The FTA between Thailand and the UAE will be one of the fastest in history. It is expected that it will take only 9 months to complete. If this edition is successful, it will be extremely beneficial for the economy, trade and investment between the two countries. The other five members of the Gulf Cooperation Council (GCC) are automatically Saudi Arabia, Bahrain, Oman, Qatar and Kuwait.
In addition, it will increase the number of exports that Thailand will export to the UAE is expected to be much higher. The trade value in 2022 between Thailand and the UAE is about 730,000 million baht. The figure of Thai exports to the UAE in 2022 is worth 119,000 million baht. It is expected that from the FTA, the trade value will increase by at least 10 % immediately ( 70, 0000 million baht within 1 year) or maybe more And products will benefit immediately, such as food, canned seafood. Processed seafood, textiles, clothing rubber products automotive products Air conditioners, electrical appliances Including leather products, etc. The service sector in Thailand will benefit from health tourism. In terms of logistics and transportation in the future, in addition to gaining a handicap in the Middle East among the other 5 GCC member countries, it will be Thailand's first FTA made with Middle Eastern countries. It is the 15th edition of Thailand with 19 countries and if the Thai FTA and the European Union are completed. It will result in an increase of 16 FTAs with 46 countries.
However, it is a pre-election FTA and the Ministry of Commerce has been working hard. for the benefit of the country Do it until the last minute for the benefit of trade, investment, and the economy of Thailand greatly.
Source: Thai News Agency