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Thailand

Thailand

Negotiations for an EU-Thailand Free Trade Agreement (FTA) were launched in March 2013 and put on hold in 2014 following the military take-over in the country. The negotiations aimed to conclude a comprehensive Free Trade Agreement.  

 

 

 

This included topics such as:  

  • tariffs and non-tariff barriers (e.g. – import quotas)
  • services, investment and procurement
  • intellectual property
  • regulatory issues
  • competition
  • sustainable development

Thailand is a member of the WTO since its creation in 1995.

Trade picture

  • In 2018, total bilateral trade between the EU and Thailand amounted to €38 billion.
  • The EU is Thailand’s third largest trade partner (after China and Japan), accounting for 9.1% of the country’s total trade. Thailand is the EU’s 25th largest trading partner worldwide. Thailand exported goods worth €22.9 billion to the EU in 2018. Key exports from Thailand are machinery and electronics and transport equipment, miscellaneous manufactured articles, as well as food products.
  • The EU exported goods worth €15.1 billion to Thailand in 2018. Key EU exports to Thailand are machinery and transport equipment, chemicals and related products, and manufactured goods.  
  • Thailand is one of the most important destinations of European investments within ASEAN with €21.2 billion of outward stocks. The EU is the second-largest investor in Thailand after Japan.

EU-Thailand: Trade in goods

Trade in goods 2017-2019, € billions
Year EU imports EU exports Balance
2017 18.9 13.6 -5.3
2018 19.6 13.5 -6.1
2019 19.6 13.6 -6.0

EU-Thailand: Trade in services

Trade in services 2016-2018, € billions
Year EU imports EU exports Balance
2016 5.2 2.8 -2.4
2017 5.5 3.2 -2.3
2018 5.5 3.4 -2.1

EU-Thailand: Foreign direct investment

Foreign direct investment 2018, € billions
Year Inward stocks Outward stocks Balance
2018 2.4 17.1 14.7

Unless otherwise mentioned “EU” concerns for all indicated years the current European Union of 27 Member States.

Date of retrieval: 22/04/2020

More statistics on Thailand

The EU and Thailand

Thailand and the EU have negotiated and finalised in November 2013 a Partnership and Cooperation Agreement (PCA), which provides a comprehensive framework for EU-Thailand relations and will open up wide opportunities to develop cooperation. The overall EU approach to bilateral relations with Thailand is set in the Council Conclusions of December 2017.

Thailand and ASEAN

Thailand is one of the 10 members of the Association of South East Asian Nations (ASEAN), the second largest economy in the region in terms of GDP (17%) and the EU’s fourth largest trading partner in ASEAN. Thailand holds the chairmanship of ASEAN for 2019.

The ASEAN region is a dynamic market with some 640 million consumers and ranks as the eighth economy in the world. The countries as a group are the EU's third largest trading partner outside Europe, after the US and China. With a population of over 69 million, Thailand is the fourth biggest market in ASEAN.

Ensuring better access for EU exporters to the dynamic ASEAN market is a priority for the EU. Negotiations for a region-to-region trade and investment agreement between the EU and ASEAN were launched in 2007 and paused by mutual agreement in 2009 to give way to a bilateral format of negotiations.

These bilateral trade and investment agreements were conceived as building blocks towards a future region-to-region agreement.

More information on ASEAN

Trading with Thailand