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\nThailand and South Korea are rushing to finalise a Comprehensive Economic Partnership Agreement (CEPA), with negotiators targeting a successful conclusion to be announced during the APEC Economic Leaders\u2019 Meeting in Seoul in October 2025.<\/p>\n
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The talks have progressed rapidly, with 19 out of 24 chapters already agreed upon. However, crucial areas remain, including detailed negotiations on trade in goods, services, investment, and digital commerce.<\/p>\n
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Should the deal be successful, it is projected to be a significant windfall for Thailand, with preliminary studies indicating a rise in GDP of 0.32 to 0.44%.\u00a0<\/p>\n
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Crucially, it could see the value of Thai exports to South Korea skyrocket by 40 to 77%, with agricultural and food products expected to be the main beneficiaries.<\/p>\n
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The Thai government is accelerating its push for new Free Trade Agreements (FTAs) to counter global trade risks, including the impact of protectionist measures like the ‘Trump tariff’ in the US.\u00a0<\/p>\n
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The Department of Trade Negotiations, under the Ministry of Commerce, has prioritised the conclusion of three major deals this year: the FTAs with the European Union and South Korea, and the ASEAN-Canada agreement.<\/p>\n
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“This drive is in line with the government’s policy to create new trade opportunities for Thailand,” said Chotima Iemsawasdikul, Director-General of the Department of Trade Negotiations. “In the face of geopolitical and economic uncertainty, not only is Thailand viewing FTAs as an essential solution for market access, but our negotiating partners are, too.”
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