UK, Thailand sign enhanced trade partnership

The UK and Thailand have signed an Enhanced Trade Partnership (ETP) on Wednesday, aimed at increasing trade and investment between the two nations.

UK Trade Minister Douglas Alexander and Thai Commerce Minister Pichai Naripthaphan formalised the agreement in Bangkok, marking Alexander’s first visit to Asia since his appointment in July.

With trade between the UK and Thailand currently valued at £5.9 billion annually, the new partnership targets key sectors including automotive, digital trade, financial services, and education. It also paves the way for future discussions on a UK-Thailand Free Trade Agreement.

The pact follows recent changes that have made it easier for UK businesses to access the Thai market, such as an agreement on vehicle emissions testing and streamlined procedures for exporting UK food and drink to Thailand.

During his visit, Minister Alexander will also attend the ASEAN Economic Ministers Meeting in Laos to discuss broader trade initiatives across Southeast Asia.