A free trade agreement (FTA) with the European Union (EU) is likely to stimulate not only exports but also imports and investment as well, helping to raise Thailand's GDP by 1.63 percent a year, according to a study.
A view of Bangkok capital city of Thailand (Photo: AFP/VNA)
Bangkok (VNA) - A free trade agreement (FTA) withthe European Union (EU) is likely to stimulate not only exports but alsoimports and investment as well, helping to raise Thailand's GDP by 1.63 percenta year, according to a study.
AuramonSupthaweethum, Director-General of the Trade Negotiations Department (TND),said the joint study by the TND and the Institute of Future Studies forDevelopment (IFD) found that an EU-Thailand FTA is expected to help raiseexports by 3.43 percent, imports by 3.42 percent and investment by 2.74 percenta year.
Other economic figuressuch as household consumption and public welfare would also benefit from thedeal, she said.
Thai products expected toreap benefits from the pact, if implemented, include automobiles and parts,garments, electronics, chemicals, rubber, plastics, food and processed foodproducts, machinery and parts, construction, and leather products.
Thai products likely tofeel the pinch from the FTA include sugar, vegetables, fruits and beans.
According to Auramon,there are further concerns about the pact's treatment of alcoholic drinks andmedicine and plant varieties.
The EU is Thailand'sfourth-largest trading partner in the world and the fourth-biggest investor inthe Southeast Asian country.
Bilateral trade between Thailandand the EU totalled 47.3 billion USD in 2018, accounting for 9.4 percent ofThailand's trade with the global market. The figure was up 6.5 percent from theyear before./.
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A view of Bangkok capital city of Thailand (Photo: AFP/VNA) 
