Trade and Investment
Trade and investment flows between the EU and Thailand are important to the Thai economy, and many different policies and regulatory measures affect these flows. The EU’s experience in economic integration and regulation can provide Thailand with relevant guidance in policy and institutional development in response to regional integration with ASEAN and implementation of ASEAN-Plus Free Trade Agreements (FTA) with other nations.
The joint efforts between Thailand and the European Union in this area can be broken down into four sub-areas:
The European Union has considerable experience in implementing internationally-accepted customs standards as defined by the World Customs Organization (WCO) in Brussels, Belgium. This expertise can be highly beneficial for both government organizations and private companies in Thailand in achieving full understanding of and compliance with the WCO Framework of Standards to Secure and Facilitate Global Trade (SAFE).
List of Activities - Customs
Tax structure is an important element in the development of many industries, especially for those that rely heavily on international connections – e.g. automobiles and alcoholic beverages. Collaboration between the EU and Thailand over parts of Thailand’s current tax system can help these sectors enhance their competitiveness on the international level through changes that reduce or eliminate measures with negative or discriminatory effects.
List of Activities - Taxation
The European Union has implemented a wide array of measures to ensure that products and services imported into EU countries are of good quality. Thai businesses wishing to gain access to EU markets are required to meet certain quality standards before export sales can commence. Under TEC II, the Thai business community will receive aid from the EU in understanding and complying with market access regulations.
List of Activities - Market Access