On 18 September 2024, H.E. Mr. Pichai Naripthaphan, Minister of Commerce, and The Right Honourable Douglas Alexander, Minister for Trade Policy and Economic Security, during his inaugural visit to Asia following his appointment in July 2024, signed the Memorandum of Understanding (MoU) for an Enhanced Trade Partnership (ETP) to boost trade and investment between Thailand and the UK. This marks the new UK government's first trade partnership agreement with a Southeast Asian country, reaffirming the commitment of both sides to collaborate in 20 priority areas, namely: (1) automotive, (2) digital, (3) education, (4) standards, (5) agriculture, food and drink, (6) investment, (7) technical barriers to trade, (8 ) healthcare, (9) customs, (10) competition, subsidies, and state-owned enterprises, (11) financial services, (12) multilateral engagement, (13) intellectual property, (14) procurement, (15) services, (16) trade remedies, (17) environment, (18) clean growth, (19) labour, and (20) tourism.

 

The ETP will not only foster closer collaboration in areas where the UK has expertise but also facilitate trade and investment for businesses in both countries. This represents an important step toward potential free trade agreement negotiations between Thailand and the UK.