The European Free Trade Association (EFTA) states—Iceland, Liechtenstein, Norway, and Switzerland—have concluded (29 November) negotiations with Thailand on a wide-ranging free trade agreement (FTA).
The agreement addresses critical areas such as competition, intellectual property (IP), and trade facilitation.
The deal includes chapters on competition policy, aiming to ensure fair market practices, and on intellectual property rights, emphasizing robust protection and enforcement. These provisions are expected to foster innovation, streamline cross-border trade, and enhance investment opportunities.
Negotiations began in June 2022 and spanned ten rounds across Bangkok, Geneva, and Oslo. In 2023, bilateral trade exceeded €3.2 billion, showcasing the economic significance of this partnership. Key exports from EFTA include clocks, watches, and pharmaceuticals, while Thailand’s main exports include electrical machinery and vehicles.
This agreement reinforces economic ties and sets a modern framework for sustainable development, SME cooperation, and capacity building between EFTA and Thailand.
Source: https://www.efta.int/media-resources/news/efta-and-thailand-conclude-free-trade-negotiations
