Thailand And Uk Launch Enhanced Trade Partnership (ETP)

THAILAND AND UK LAUNCH ENHANCED TRADE PARTNERSHIP (ETP)
TO BOLSTER BILATERAL TRADE AND INVESTMENT

Yesterday, Thailand and the United Kingdom announced a new Enhanced Trade Partnership (ETP) aimed at boosting bilateral trade and investment. 

The ETP was signed by Thai Minister of Commerce Pichai Naripthaphan and UK Minister for Trade Policy Douglas Alexander.

BCCT Chair Gareth Davies of DDX noted, “This is a hugely significant milestone in the Thai-UK bilateral trade and investment relationship. It is very positive that Minister Alexander is visiting Thailand to sign this agreement only two weeks into the life of the new UK government”.

The ETP is founded on strengthening bilateral relations by streamlining trade, agreeing on standards and best practices, and tackling unnecessary barriers to trade. It also seeks to enhance co-operation in key areas of interest to businesses – from agriculture and decarbonisation to healthcare.    

BCCT Executive Director Greg Watkins added, “We should not underestimate the importance of this first step on what will hopefully be a short journey to a full bilateral Free Trade Agreement (FTA). Businesses in both countries will be delighted that the ETP has been signed. Now comes the hard work of implementing the detailed plan that underpins it. BCCT and its members will play an active role in supporting both governments ”.

Huge thanks from BCCT to those in the Department for Business and Trade (DBT) and British Embassy Bangkok for their hard work over the past 18 months, specifically Ambassador Mark Gooding, Commercial Counsellor & DBT Country Director Ben Morley and his team; and Cathryn Law, Dominic James and the team at DBT’s Free Trade Agreements Directorate in London. Thanks also to the many BCCT member companies that provided their knowledge and experience.      

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