Bangkok Post | 14 October 2025

Thailand looking for trade accord with S.Korea by year’s end

by Saritdet Marukatat

Thailand hopes to complete free trade agreement (FTA) talks with South Korea by the end of this year, according to Commerce Minister Suphajee Suthumpun.

An FTA deal with South Korea would be a notable "first" for Ms Suphajee, who will serve only a short tenure in the commerce portfolio before the promised general election next year.

Thai and South Korean trade officials have been negotiating for an FTA between the two countries since 2004, and are now in the final stages of the talks.

“We think we can wrap up negotiations with South Korea by the end of this year,” Ms Suphajee said in an interview with The Standard released on Monday.

She said credit should go to officials of the Department of Trade Negotiations for their efforts toward a trade pact with the East Asia country.

South Korea will host a series of meetings of the Asia-Pacific Economic Cooperation from Oct 26-Nov 1 in Gyeongju city near Busan.

Ms Suphajee will take part in the trade ministers meeting, and Prime Minister Anutin Charnvirakul will join other leaders at the summit.

“We plan a joint declaration (with South Korea) to underline our determination for a conclusion (of the FTA),” the minister said.

The declaration would be made on the sidelines of the Apec meeting. But she did not say whether it would be announced by the trade ministers or leaders of the two countries.

Two-way trade was worth US$14.7 billion in 2023 in favour of South Korea.

An FTA needs parliamentary approval after its conclusion.

Ms Suphajee said she also hoped to see progress in talks on an FTA with the European Union by using the European Free Trade Association (Efta) accord as a stepping stone for Thailand and EU members to accelerate talks.

Thailand signed on to Efta in January and this is expected to become effective in a year.

The European countries in the pact are Iceland, Liechtenstein, Norway and Switzerland. They are not EU members but have some form of cooperation with the EU, including free movement as they are included in the Schengen area.

“The EU is looking for new markets and partners due to pressure from US reciprocal tariffs and geopolitical factors,” the commerce minister said. Thailand could tap the advantages to seal a trade pact with the bloc.