Thailand and EU prepare for signing of a strategic trade partnership

Thailand and the European Union are ready to sign a draft Strategic Partnership and Cooperation Agreement to promote bilateral trade and investment in the future.

Federica Mogherini, an EU Representative for Foreign Affairs and Security Policy, and vice chairwoman of the European Commission, met today with PM Prayut Chan-o-cha during her visit to Thailand to attend the ASEAN Plus Foreign Ministers Meeting and ASEAN Foreign Ministers Meeting, on Regional Political Security Cooperation in Asia-Pacific.

The Thai premier called on the EU to have confidence in Thailand’s political situation where he told her “democratic rule is being promoted”.

He says he was delighted at the strengthening of relationships between Thailand and the EU, thus providing the opportunity for gradual expansion in bilateral cooperation in various regards and continuation of policies toward mutual interests.

The EU representative says that Thailand and the EU have fostered cordial relationships in trade, investment, tourism and culture.

Both sides have now endorsed the resumption of FTA negotiations between Thailand and the EU and between ASEAN and the EU. In addition, the Strategic Partnership and Cooperation Agreement is designed to promote bilateral trade and investment.

The draft agreement might be slightly amended since the EU has recognized Thailand’s economic preparedness and potential while investment projects by European investors have been supported in Thailand.

SOURCE: National News Bureau of Thailand