Thailand has signed a free trade agreement with the European Free Trade Association (EFTA), the first FTA with European nations. The EFTA comprises Iceland, Liechtenstein, Norway, and Switzerland.
Thailand’s Commerce Minister Pichai Naripthaphan says that the pact would allow Thailand to expand its trade opportunities with countries in the European Union, adding that the FTA is “another standard of agreement.”
“This shows Thailand is back on the world map,” he said.
According to the minister, the nation saw over 1 trillion baht in investment in 2024. Because of the FTA, this will tend to increase this year.
Thailand needs to have more FTAs to be able to compete with other countries by being exempted from paying taxes, he said.
Source: The Nation
