The Thai Commerce Ministry is preparing to pursue additional free trade agreements (FTAs) in 2025, with the aim of achieving a 3% economic growth rate for the country. Commerce Minister Pichai Naripthaphan made this announcement after a key meeting with ministry officials and executives from the Federation of Thai Industries (FTI), including FTI chairman Kriengkrai Thiennukul.
Prime Minister Paetongtarn Shinawatra emphasized the crucial role of the private sector in driving sustainable economic growth and highlighted the government’s intention to work closely with industry leaders. The Commerce Ministry plans to continue its collaboration with the private sector to foster economic development in the coming years.
One of the key initiatives for 2025 is the finalization of Thailand’s first-ever free trade agreement with Europe, which is set to include Switzerland, Norway, Iceland, and Liechtenstein. This agreement will open up new markets for Thai exports, with further FTAs expected to follow. According to Minister Naripthaphan, these agreements will help enhance the country’s competitiveness and attract more foreign investments.
The Commerce Ministry also outlined its support for the upcoming FTI EXPO 2025, which will take place from February 12 to 15 at the Queen Sirikit National Convention Centre in Bangkok. The event will focus on empowering Thai industries and boosting Thailand’s future economic prospects.
Thailand’s export performance has shown growth, with figures for the first 11 months of 2024 showing a 5.1% increase, reaching US$275.76 billion (approximately 9.69 trillion baht). The ministry expects this trend to continue, with total exports surpassing 10 trillion baht by the end of the year, setting a new record.
Despite ongoing global economic challenges, the Thai government is targeting a growth rate of 2 to 3% for 2025, relying on continued cooperation between the government and private sector to meet this goal.
Kriengkrai Thiennukul commended the efforts of the Commerce Ministry, affirming the FTI’s commitment to helping businesses capitalize on the benefits of FTAs.
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