Thailand joins trade, investment meeting with EU

BANGKOK, June 10 (TNA) - Thailand will participate in the next meeting of a joint task force between the Kingdom and the European Union (EU) on trade and investment, the 14th of its kind, set to be held in Brussels on June 11. Auramon Supthaweethum, Director General of the Department of Trade Negotiations under the Thai Ministry of Commerce, told journalists on Monday, prior to her departure for Brussels,that she will lead a Thai government delegation to attend the latest yearly Thailand-EU joint task force on trade and investment, aimed to promote bilateral trade and investment of both sides and to seek the solution to problems of the two-way trade and investment. Auramon stated that discussions at the upcoming Thailand-EU joint task force on trade and investment will include the updated world economic situation, the assessment of impacts from Britain's exit plan (Brexit) from the EU, a move to reform the Geneva-based World Trade Organization (WTO) and the review of relevant trade and investment rules and regulations of both sides. "There will be no discussion in details on the resumption of negotiations on the Thailand-EU free trade agreement (FTA) until the new Thai government takes office and the EU parliamentary election is completed", the senior official revealed. Based on official statistics, the EU is now Thailand's third largest trading partner, with the bilateral trade standing at about 47.27 billion US dollars in 2018, accounting for about 9.4 per cent of the country's total external trade value and a 6.51 per cent year-on-year increase. Major Thai exports to the EU include computer sets, parts and accessories, automobiles and parts, air conditioners, electric circuits, gems and jewelry, rubber products and processed chicken, while major Thai imports from the EU include machines and parts, airplanes, sailplanes and accessories, electric machines and accessories, as well as chemical, medical and pharmaceutical products. (TNA)