Thailand's Trade Negotiations Plan for 2022: Expanding Free Trade Agreements (FTAs)
November, 26 2021
Strengthening Economic Partnerships Through JTC Meetings
Ms. Oramon Sapthaweetham, Director-General of the Department of Trade Negotiations (DTN), stated that for 2022, the department aims to:
- Resolve trade barriers for Thai exporters
- Enhance economic cooperation with key trading partners
- Expand trade and investment opportunities through FTAs
A key mechanism is the Joint Trade Committee (JTC) meetings, which serve as a platform to address trade issues and strengthen economic relations. Thailand will host JTC meetings with at least 10 countries, including:
- Indonesia, Cambodia, Vietnam, Singapore, South Korea, Russia, Ukraine, the UK, Bhutan, and the Maldives
Thailand will also participate in JTC meetings hosted by other countries, such as China and Bangladesh. These discussions aim to enhance economic ties, facilitate trade, and resolve trade barriers.
New FTAs in Progress
The DTN is working on new FTAs and conducting domestic consultations to finalize negotiation frameworks for:
- FTA with the European Union (EU)
- FTA with the European Free Trade Association (EFTA)
- Switzerland, Norway, Iceland, and Liechtenstein
- FTA with the Eurasian Economic Union (EAEU)
- Russia, Belarus, Armenia, and Kyrgyzstan
These agreements aim to expand trade and investment opportunities with both established and emerging markets while integrating Thailand into the global supply chain.
Additionally, Thailand is accelerating the completion of pending FTAs, including:
- FTA with Turkey, Pakistan, and Sri Lanka
- ASEAN-Canada FTA, which began negotiations in November 2021
Thailand’s Existing FTAs and Trade Growth
Currently, Thailand has 14 FTAs covering 18 countries, including:
- ASEAN, Australia, New Zealand, China, Japan, South Korea, Chile, Peru, India, and Hong Kong
- RCEP (Regional Comprehensive Economic Partnership), the largest FTA in the world
For the first 9 months of 2021 (Jan–Sep), trade between Thailand and its 18 FTA partners totaled $253.2 billion, a 25.2% increase year-on-year, accounting for 63.6% of Thailand’s total trade.
- Exports to FTA partners: $123.7 billion (+18.2%)
- Imports from FTA partners: $129.5 billion (+32.8%)