Ministry seeks Efta trade deal this year

The Commerce Ministry wants to conclude free trade agreement (FTA) negotiations with the European Free Trade Association (Efta) by year-end.
Commerce Minister Pichai Naripthaphan is in talks with Swiss State Secretary for Economic Affairs Helene Budliger, the ambassadors of Switzerland and Norway, and representatives of Efta to expedite the FTA negotiations.
Efta comprises four states: Switzerland, Norway, Iceland and Liechtenstein.
The negotiations have been continuing for years.
When finalised, the Thai-Efta FTA will be Thailand’s first with European nations and its 15th FTA, covering 22 nations in total.
Mr Pichai said Efta and Thailand made significant progress during the 10th round of negotiations in Geneva in August.
Heads of delegations and experts discussed a range of areas, aiming to resolve outstanding matters including trade in goods, rules of origin, trade in services, investment, government procurement, cooperation and capacity building, trade remedies, legal and horizontal issues, small and medium-sized enterprises and intellectual property rights.
He said the ministry wants to conclude the pact before year-end to expand trade and investment opportunities, improving the country’s competitiveness. The ministry and relevant authorities will work swiftly to clarify all outstanding issues to achieve this goal, said Mr Pichai.
He said the government welcomes investment from Efta nations, particularly in promising sectors such as technology and innovation.
In 2023, Efta was Thailand’s 16th-largest trading partner. Trade between Thailand and Efta was worth US$9.88 billion, accounting for 1.72% of Thailand’s total trade. Exports to Efta were worth $4.38 billion, while imports from Efta were worth $5.49 billion.
Key exports include gems and jewellery, watches and watch components, steel and steel products, air conditioning equipment and parts, and travel goods. Key imports include precious stones, jewellery, silver and gold bars, watches and watch components, meat for human consumption and pharmaceutical products.