Thailand Signed a Historic Agreement!

Thailand has taken an important step towards strengthening economic ties with Europe by signing a free trade agreement with the European Free Trade Association (EFTA). This agreement is aimed at developing cooperation in key sectors such as advanced technologies, sustainable development, and support for small and medium-sized businesses.

According to official data, the volume of bilateral trade between Thailand and the EFTA member countries (Switzerland, Norway, Iceland, and Liechtenstein) reached $11.8 billion in 2024, accounting for 1.94% of Thailand's total foreign trade turnover. The new agreement is expected to open up additional opportunities for attracting investments and stimulating economic growth.

Thailand's Minister of Commerce, Pichai Nariphatphun, emphasized that the signing of this agreement is an important step towards the active expansion of international trade relations after a decade-long hiatus. The agreement could serve as a foundation for further agreements with the European Union and Middle Eastern countries, including the United Arab Emirates.

The signed agreement reaffirms Thailand's commitment to developing a sustainable and innovative economy that is open to international cooperation and new investment opportunities.