The finalization of the FTA talks, which were initiated in 2013, would expand the fruitful economic relationship between the two nations. According to government data cited by Reuters, Thailand exported $21.8 billion worth of goods to the EU last year, including cars, computers, jewelry, and electric circuits, making the bloc its fourth-largest trading partner. Among the largest Thai exports to the EU were machinery, electronic equipment, and pharmaceutical products.
Prime Minister Srettha Thavisin and French President Emmanuel Macron
According to his statement, since arriving in France on March 9, Srettha has “met with executives of over 20 of France’s leading firms in the fields of automobiles, aviation, clean energy, fashion, sports, hospitality and tourism, to explore business opportunities between the two countries,”. Srettha also held talks executives of Formula 1 and said they expressed interest in Thailand as a potential site for hosting a Formula 1 motor racing event.
Both the FTA talks and the planned visa-free arrangement are part of Srettha’s push to revive Thailand’s economy, which has still not fully recovered from the doldrums of the COVID-19 pandemic. He plans to tackle them with various economic stimulus packages, including the planned “digital wallet” scheme.
Like the economy as a whole, tourism arrivals are far off returning to their pre-COVID-19 numbers. In order to attract more visitors, Srettha’s government has temporarily waived visas for travelers from China, Kazakhstan, Russia, India, and Taiwan. In January, it made this arrangement permanent for visitors from China, with reciprocal visa-free travel to China for Thai nationals. Last year, around 28 million people visited Thailand.
EU-Thailand Pact: Visa-Free Access for Thai Passport Holders
EU and Thailand to reveal new agreement this year, offering visa-free access for Thai passport holders. The pact aims to strengthen trade and cooperation between the two parties.
The government is positive about finalising a trade and cooperation framework with the EU, which will include visa-free travel to the Schengen zone for Thai citizens. This agreement is expected to boost investment opportunities for Thailand.
The EU-Thailand Comprehensive Partnership and Cooperation Agreement will enable Thai passport holders to enter the EU’s Schengen zone without a visa. This agreement aims to facilitate economic growth and enhance business opportunities for both parties.
During a recent event commemorating Europe Day, Minister Jakkapong highlighted the importance of fostering stronger ties between Thailand and the EU. He emphasized the mutual benefits of the FTA and expressed hope for EU support in granting visa-free access to Thai nationals in the Schengen zone.
