European Union trade and cooperation pact with Thailand to be finalised this year. It will include visa-free access for Thai passport holders. Prime Minister Srettha Thavisin plans to visit France and Italy next week as the kingdom cements closer ties with the bloc.
The government is confident that a new trade and cooperation framework will be unveiled this year with the European Union. Among the provisions will be visa-free access to the Schengen zone for Thai passport holders. It will also include a free trade agreement, which will boost Thailand’s efforts to attract inward investment. The news comes ahead of Prime Minister Srettha Thavisin’s visit to France and Italy this week.
On Wednesday, Prime Minister’s Office Minister Jakkapong Sangmanee announced that Thailand hoped to finalise a free trade pact with the European Union this year.
Talks with the 27-member bloc commenced in September in Brussels. Afterwards, the second leg of the talks was held in Bangkok in January 2024. The final stage of talks is due to take place within the European Union in June.
Minister Jakkapong was formerly deputy minister at the Ministry of Foreign Affairs before the end of April cabinet reshuffle.
Thailand-EU Comprehensive Partnership and Cooperation pact to include a provision for Thai nationals to enjoy visa-free access to the EU Schengen zone
In addition to the trade aspect, the minister talked of Thailand ratifying a Thailand-EU Comprehensive Partnership and Cooperation Agreement this year. Part of this pact will be the green light for Thai passport holders to access the Schengen zone without a visa.
The Schengen zone includes 26 European Union countries and Iceland. In particular, it excludes Ireland which has a Common Travel Area with the United Kingdom.
PM and Macron discuss visa-free access for Thai nationals in the European Union’s Schengen zone
‘The FTA will not only stimulate economic growth in both regions but also benefit their businesses and supply chain,’ Minister Jakkapong explained. He was attending an event organised by the European Union in Thailand to mark Europe Day on May 9th.
‘To allow more convenient people-to-people connectivity, Thailand hopes for support from the EU to allow Thai nationals to enter the Schengen zone without the visa requirement.’
Thailand needs European Union access to compete for investment with Vietnam. Lack of access to the key market has impeded the kingdom’s efforts since 2020
In addition, a free trade pact and easier access to the European Union market will help Thailand attract inward investment. Since the 2020 pact between the European Union and Vietnam, Thailand has been at a disadvantage against its key competitor for inward investment.
The news came at the event last Wednesday, in Bangkok at the Conrad Hotel.
Mr David Daly, the European Union ambassador to Thailand, addressed a business and diplomatic gathering. In short, it was to celebrate Europe Day. At length, he explained the background to the occasion.
It was to celebrate 74 years since the Schuman Declaration. This was issued by the French Minister of Foreign Affairs Robert Schuman, on May 9th, 1950.
In short, it was an agreement among the founders of the European Coal and Steel Community. The members of the 6 nation alliance agreed to work together and pool resources in relation to coal and steel production.
The founding countries were France, West Germany, Italy, Netherlands, Belgium and Luxembourg. Afterwards, the European Economic Community emerged and expanded from this alliance in 1957.
In turn, this entity grew and changed its name to become the 27-member European Union bloc today.
Bilateral trade between European Union and Thailand worth €1 billion a week or ฿39.7 billion
On Wednesday, Mr Daly revealed that bilateral trade between Thailand and the European Union now amounted to €1 billion a week or ฿39.7 billion. He is confident that a new free trade pact will certainly boost this figure.
At the same time, the European Union bloc is also, at this time, Thailand’s third-largest source of inbound investment. In short, the 27-member bloc has created over 160,000 jobs in Thailand.
In addition, it is the kingdom’s second most important tourism market after China.
The European Union ambassador especially praised Thailand’s diplomatic efforts to bring peace to Myanmar. He also praised the kingdom’s ongoing campaign to prevent illegal fishing and stamp out labour abuses within the industry.
Prime Minister set to visit Europe on a 6-day trip
The news comes ahead of a 6-day visit to Europe this week from May 15th to 21st by Prime Minister Srettha Thavisin. The focus of the PM’s visit will be France and Italy.
On a previous trip in March, Mr Srettha developed a strong rapport with French President Emmanuel Macron. On this trip, the French leader will convene the Thailand-France Business Forum.
The Thai leader will promote the government’s ‘Ignite Thailand 2025’ initiative in both countries.
Later in May, Mr Srettha will again visit Japan to meet key business leaders and participate in the Nikkei Forum.
That visit will be from May 22nd to 24th. This is a speaking forum which will be held this year in Tokyo. The theme will be ‘Asian leadership in an uncertain world’.
The Prime Minister is expected to meet many key business leaders and industrialists.
‘It is a good opportunity to encourage further investment in Thailand,’ Mr. Srettha explained to his followers on the social media site X.
Join the Thai News forum, follow Thai Examiner onFacebookhere
Receive all our stories as they come out on Telegram here
Follow Thai Examiner here
Further reading:
PM and Macron discuss visa-free access for Thai nationals in the European Union’s Schengen zone
Economy faces export clogs with rules in China and ‘green imperialism’ from European Union
Vital European Union free trade deal with Thailand with stiff demands from Brussels to take time
Thailand in direct trade talks with 12 Indian states which could also boost the tourism industry here in 2021
World’s biggest free trade deal just signed will be a huge boost for the Thai economy and exports
US move against Thailand on trade is a warning as Thai exports to America boomed in September by over 19%
Thailand’s trade agenda may be complicated and thwarted by raised tensions in the Indo Pacific region
RCEP deal agreed as India opts out – busy Bangkok ASEAN summit concludes on a low key
Industry boss urges Thailand to join alternative Pacific trade pact and plan for a long recovery from virus debacle
Chinese FM to visit Thailand in a Covid battered world of raised tensions and potential conflict
Lowering of US flag in Chengdu is a wake-up call for foreigners living in Thailand and with close ties here
US is a better friend for Thailand than China says US ambassador as tensions grow between the 2 powers
Prime Minister indicates that the cabinet reshuffle will be complete very shortly with no problem
Thailand’s economy has become dependent on government expenditure to stay above water
Industry boss urges Thailand to join alternative Pacific trade pact and plan for a long recovery from virus debacle
Thailand and US aim for a new more ‘proactive’ trading relationship as ambassador meets Prayuth
Rice price spike but drought conditions to recede – security concern for the Mekong river
US election will impact investment and moves by US firms from China to Thailand says new American envoy
About the Author
Carla Boonkong is a magazine writer who writes extensively about woman's issues in Thailand. One of her key subjects is the story of Thailand's growing influence in the world and the role played by Thai women in the process. She is now a staff writer with Thai Examiner.com in Bangkok. Son Nguyen is an international writer and news commentator specialising in Thai news and current affairs. He commenced working with the Thai Examiner News Desk in May 2018.
