Bernama | 10 Sep 2013

Thailand mulls restoring FTA talks with Switzerland

BANGKOK, Sept 10 (Bernama) — The Thai government is considering to restore free trade agreement (FTA) talks with Switzerland, the second largest trading partner of the Thai economy in Europe.

Prime Minister Yingluck Shinawatra told Thai News Agency (TNA) of the plan, after her meeting with Thailand’s private sector association in Switzerland on Monday, in which Thai Deputy Prime Minister and Foreign Minister Surapong Tovichakchaikul also participated.

Yingluck acknowledged that her government’s strategy on expanding bilateral trade and investment with Switzerland is the restoration of the FTA talks, with the eventually-concluded Swiss-Thai FTA being the goal.

Yingluck said the Thai government will also encourage Switzerland to import more Thai products, particularly agricultural and food products.

According to the Thai prime minister, Switzerland is a major market for Thailand’s exports gems and jewellery, clothes and home decoration items, becoming Thailand’s second largest trading partner in Europe and the ninth in the world.

The premier revealed that she has also invited Switzerland to actively expand its investment into Thailand, particularly in high-potential industries and in the Thai capital market, as well as in joint ventures on mega-infrastructure projects, along with using Thailand as its production base in the Association of Southeast Asian Nations (Asean).

The Thai premier is on her European trip this week, from Sept 8-15, to attend the 24th United Nations Security Council (UNSC) in Switzerland and to pay official visits to Italy and Montenegro.

— BERNAMA