Thailand - Trade AgreementsThailand - Trade Agreements
In January 1992, Thailand signed the Framework Agreement on Enhancing ASEAN Economic Cooperation. The goal of this agreement was to establish an ASEAN Free Trade Agreement (AFTA). The countries now affected by AFTA are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
In 2007, ASEAN leaders established the ASEAN Economic Community (AEC) with nearly all tariffs eliminated and a plan to further liberalize the service, capital, and labor sectors. Other negotiations are underway. Thailand, along with the other ASEAN members, is currently engaged in negotiations with China, Korea, Japan, Australia, New Zealand, and India to form a Regional Comprehensive Economic Partnership (RCEP) agreement.
Thailand currently has Free Trade Agreements (FTA) with Australia, Chile, India, Japan, New Zealand and Peru. Thailand is negotiating the details of additional FTAs with China, India, and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), which currently comprises 7 countries: Bangladesh, Bhutan, India, Nepal, Myanmar, Sri Lanka and Thailand. In addition, Thailand initiated FTA negotiations with Pakistan and Turkey in 2015.
Thailand Trade Development and Promotion Trade Agreements