Norway and the European Free Trade Association (EFTA) countries have finalized a free trade agreement with Thailand, creating new opportunities for trade, investment, and exports. “This is a significant development for Norwegian businesses. Nearly all goods exported to Thailand will now be duty-free, enhancing competitiveness in one of Southeast Asia’s fastest-growing markets,” Norwegian Trade Minister Cecilie Myrseth stated.
The agreement covers goods worth NOK 5.6 billion imported by Thailand last year, 83% of which will now be duty-free. Over the next 15 years, 99.8% of Norwegian exports to Thailand will enjoy duty-free status, including a significant share of seafood products. “This deal secures improved terms for Norway, giving our exporters a competitive edge in the Thai market,” Myrseth added.
In 2023, the total trade volume between Norway and Thailand reached approximately NOK 12 billion, highlighting the growing economic ties between the two regions. EFTA, comprising Norway, Iceland, Switzerland, and Liechtenstein, aims to strengthen economic relations with global partners through free trade agreements.
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