The government’s deputy spokesman revealed that the cabinet agreed with Thailand to negotiate the CEPA Economic Partnership Agreement with the United Arab Emirates. help Thailand reduce the trade deficit
Today (February 28), Miss Ratchada Thanadirek, Deputy Spokesperson for the Prime Minister’s Office Revealed after the Cabinet meeting (Cabinet) on February 28, 2023 that the Cabinet approved Thailand to join the negotiations for the Economic Partnership Agreement. (Comprehensive Economic Partnership Agreement: CEPA) with the United Arab Emirates (UAE), as well as agreeing on the draft framework for the negotiation of the Economic Partnership Agreement between Thailand and the United Arab Emirates. for use in negotiating agreements as proposed by the Ministry of Commerce Currently, Thailand has free trade agreements or FTAs with 18 countries, totaling 14 agreements. The preparation of this agreement is considered the first FTA that Thailand has made with a Middle Eastern country. The United Arab Emirates is Thailand’s key trading partner in the Middle East. It is considered a new potential market in Thailand. It plays a role as a center for trade, banking and transportation in the Middle East. As of 2022, the UAE is Thailand’s 6th trading partner in the global market and 1st in the Middle East.
for the drafting of the negotiation framework for this agreement The same principle applies to drafting other FTA negotiations with the objective of 1) Expand trade and investment opportunities Promote and attract investment 2) Give importance to all sectors of Thailand that may be affected by trade liberalization. with a period of time to adapt and measures to cope with potential impacts For the essence, the draft negotiating framework will cover 20 issues, for example:
1. Trade in goods such as 1) Reduce or eliminate non-tariff measures and barriers as much as possible. 2) To provide a period or conditions for appropriate adaptation to sensitive products such as dates, including other measures to mitigate the impact of the tax reduction.
2. Trade in services such as 1) There are international standards for trade in services. 2) There is a gradual service market. in addition to the market opening obligations of the WTO countries; and 3) open the market for trade in services in areas where Thailand has potential. and is ready and beneficial to the development of the country
3. Electronic commerce and digital commerce Promote trade facilitation and cooperation through e-commerce and digital trade.
4. Intellectual property Promote the balanced use of flexibility, exceptions, and limitations in intellectual property protection among rights holders, consumers, and the public at large. There are no restrictions on public health for the benefit of accessing essential medicines and health technologies. As for genetic resources and plant varieties, must not affect the way of life of small farmers
5. Small and medium-sized enterprises, small and medium-sized enterprises, small and medium-sized enterprises of all levels are encouraged. able to conduct business and make use of the agreement
6. Trade and sustainable development, such as 1) Promote labor rights protection and environmental protection in accordance with international standards and in accordance with national regulations. 2) The Parties shall not use this Article as a barrier to trade. 3) Promote cooperation on labor rights and the environment.
7. Technical barriers to trade, such as reducing the use of measures on technical barriers to trade in principle. 2) Promote the use of appropriate and viable international standards.
Ms. Ratchada also said that the preparation of the Economic Partnership Agreement (CEPA) with the United Arab Emirates this time It will help Thailand reduce the trade deficit. Because Thailand will be able to export more products to the United Arab Emirates. According to the results of the study, it will cause the GDP of Thailand to expand between 318 – 357 million US dollars. For important export products of Thailand such as food products, textiles, clothing. Leather products, wood products, chemicals, rubber and plastic products electrical appliances and electronics, etc.
