Deputy Prime Minister and Minister of Commerce, the results of the 4th round of negotiations under the Thailand-UAE FTA framework have progressed more than 80 percent, with the goal of successfully concluding the negotiations at the end of the year.
Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce Revealed after hosting the 4th round of the negotiation meeting to create the FTA or Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) in Bangkok, after having negotiated with Mr. Thani bin Ahmed. Al Seyoudi, Minister of State at the United Arab Emirates Ministry of Economy, said that this negotiation Progress has reached 80 percent, with the UAE showing demand for Thai products and services and using Thailand as a gateway to the ASEAN region. while the United Arab Emirates It has sufficient potential to be a center for expanding Thai trade to the Middle East region, but negotiations still have some issues. That will need to be discussed further. The details cannot yet be summarized. Because it must be discussed internally in both countries first.
In this regard, as the Ministry of Commerce, we are well aware that the various negotiations that will take place Must consider the impact Benefits and existing limitations There may need to be a presentation and discussion for the private sector. To get more details for the next negotiation framework. But the goal is to conclude the negotiations successfully by the end of the year.
He assigned the operations department to go back and discuss the details in order to bring it back to negotiations again. The issue is still unable to find a conclusion. Efforts still need to be made to negotiate further. To bring the greatest benefit to Thailand
Initial results of the study estimate that the establishment of CEPA between Thailand and the UAE will help Thailand's GDP expand by a value of 318-357 million US dollars. and Thai exports as a whole expanded by a value of 190-243 million US dollars. For products that Thailand is expected to export more to the UAE, such as food products, textiles and clothing. Products made from leather, wood, rubber, plastic, chemicals, electrical and electronic appliances. and automobiles and parts As for service areas that are expected to have increased cross-party transactions, such as transportation, finance and business services.
The UAE is Thailand's No. 6 trading partner in the global market and No. 1 in the Middle East. In the first seven months, trade between Thailand and the UAE was worth US$11,120.3 million. Thailand exports to the UAE worth 1,817.6 million US dollars. and Thailand imported from the UAE worth 9,302.6 million US dollars. Important export products include automobiles, equipment and components. Air conditioners and components Gems and jewelry wood and wood products and rubber products and important imported products such as crude oil, refined oil, natural gas, and other metal ores. Scrap metal and products Jewellery, gems and silver and gold bars .-Thai News Agency
Source: Thai News Agency