Thailand to wrap up more FTAs by 2026

The Thai government aims to finalize several new free trade agreements (FTAs) with global partners by 2026, with the deal with South Korea expected to be completed by the end of 2025.

Chotima Iemsawasdikul, Director General of the Ministry of Commerce’s Department of Trade Negotiations, announced that South Korea and Thailand have agreed to expedite their bilateral negotiations to conclude the FTA in the coming months.

She also confirmed that the European Union (EU) and Thailand are accelerating talks to finalize the EU-Thailand FTA as soon as possible.

Similarly, Thailand and Peru are fast-tracking efforts to resolve about 30% of outstanding issues, aiming to complete the Peru-Thailand FTA by August 2025, as previously scheduled.

Between 2024 and early 2025, Thailand signed FTAs with Sri Lanka, Bhutan, and the European Free Trade Association (EFTA), all expected to take effect by the end of 2026.

Chotima added that her department plans to host ministerial-level Joint Trade Committee (JTC) meetings with Lao PDR, the Philippines, and the United Kingdom to further strengthen trade relations.

On a regional level, she noted that ASEAN, of which Thailand is a member, has already signed FTAs with Australia, New Zealand, and China.

Negotiations are also underway to update the ASEAN-India FTA. Meanwhile, substantial progress on the ASEAN-Canada FTA is expected in the coming months, with completion targeted by 2026.

Thai industries—especially those exporting automobiles and parts, machinery, electrical appliances, gems and jewelry, fruits, crops, and processed food—are major beneficiaries of FTAs. The agreements also create new opportunities in tourism and services.

In 2024, Thailand’s trade under 18 existing FTAs reached over $360 billion, accounting for 59.3% of the country’s total trade. Exports amounted to over $154 billion, while imports surpassed $172 billion.

Chotima emphasized that her department will continue working with public and private partners to provide Thai farmers and businesses, particularly small and medium-sized enterprises (SMEs), with updated information and guidance on the long-term benefits of both bilateral and regional FTAs.