Suphajee Accelerates Thai-EU FTA and Diversifies Export Markets

Prachachat•Economy•15m ago

Reader Briefing

Deputy Prime Minister and Minister of Commerce Suphajee Suthamphan outlines plans to diversify export markets and accelerate several Free Trade Agreements to reduce dependence on China and the US.

•Thailand aims to conclude the Thai-EU FTA negotiations by the end of 2026.
•The Ministry of Commerce will resume the Joint Trade Committee meeting with India on November 17, 2026.
•Thai exports in the first 9 months of 2026 grew by 19.6%, but market concentration remains high in China and the US.
•The government is adjusting investment incentives to encourage Chinese investors to use more Thai-made raw materials and parts.

Overview

•Thai exports in the first 9 months of 2026 expanded by 19.6%, though China and the US account for approximately one-third of total export value.
•Small enterprises (SMEs) make up about 22,000 of 30,000 Thai exporters but held only a 14% share of export value this year.
•The Ministry of Commerce is pushing to finalize the Thai-EU FTA within 2026 to allow it to take effect the following year.
•A Joint Trade Committee meeting between Thailand and India is scheduled for November 17, 2026, marking the first such meeting in 7 years.
•The Ministry of Commerce plans to use a joint committee mechanism with China, with a goal to report results in early 2027, to increase the use of domestic parts in Chinese investments.
•The Agreement on Reciprocal Trade (ART) between Thailand and the US has reached a substantive agreement and is awaiting a leaders' meeting.
•Thailand intends to formalize a trade agreement with the UAE by 2027 to access the GCC markets and enhance energy security.
•Suphajee Suthamphan proposed a "4 Keys" concept and three pillars to distribute trade opportunities and income to regional levels.

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Source: Prachachat (Original)

Key Quotes

Suphajee Suthamphan

"Thailand truly exports a lot, but if we look at the quality of our exports, there are still challenging issues."

ประเทศไทยส่งออกได้เยอะจริงค่ะ แต่ถ้ามาดูคุณภาพของการส่งออกของเรา ยังมีประเด็นท้าทายอยู่

Key Entities

Person

Suphajee Suthamphan(ศุภจี สุธรรมพันธุ์)

Deputy Prime Minister and Minister of Commerce of Thailand.

Organization

Ministry of Commerce(กระทรวงพาณิชย์)ℹ️

The Thai government agency responsible for pushing FTAs and diversifying export markets.

Chamber of Commerce Nationwide(หอการค้าทั่วประเทศ)

The organizer of the 44th seminar where Suphajee Suthamphan delivered a special keynote speech.

European Union(สหภาพยุโรป)ℹ️

A trade partner with whom Thailand is negotiating an FTA to be concluded in 2026.

Joint Trade Committee

A bilateral mechanism between Thailand and India to be revived on November 17, 2026.

Place

India(อินเดีย)ℹ️

A high-potential market with which Thailand will resume Joint Trade Committee talks on November 17, 2026.

China(จีน)ℹ️

A major export market and source of investment that Thailand wants to encourage to use more local raw materials.

United States of America(สหรัฐอเมริกา)ℹ️

A major export market with which Thailand has a substantive agreement on the Agreement on Reciprocal Trade.

Canada(แคนาดา)ℹ️

A country with which Thailand is pursuing FTA negotiations via both ASEAN-Canada and bilateral channels.

United Arab Emirates(สหรัฐอาหรับเอมิเรตส์)ℹ️

A target country for a trade agreement by 2027 to serve as a gateway to the GCC.

Chiang Rai(เชียงราย)ℹ️

A province identified by Suphajee Suthamphan as having strengths in location, agriculture, culture, and tourism.

Policy

Agreement on Reciprocal Trade

A trade agreement between Thailand and the US that has reached substantive agreement.