The British business sector has urged the Thai government to start formal negotiations for a Thailand-European Union free-trade agreement (FTA) early next year.
Executives reason that an FTA would unlock many new opportunities for British and Thai companies, with both parties to the pact providing a springboard for promoting trade and investment between Asia and the EU.
The comments were made in London this week at a meeting between Prime Minister Yingluck Shinawatra and the British secretary of state for business, innovation and skills, Vince Cable, which was attended by leading United Kingdom businesspeople.
British enterprises are seeking closer cooperation with Thailand as they foresee the Kingdom being the hub and gateway for businesses to expand their trading and investment to other Asean countries and elsewhere in Asia after the integration of the Asean Economic Community, which comes into effect in 2015, with six giant Asian economies.
Cable said Thailand had proved itself to be a resilient and high-potential nation after recovering from the devastating floods of late last year.
He said that not only did British firms want to expand investment to Thailand in a number of sectors, but Thai corporates were seeking to internationalize and would also enjoy the UK as a hub for their global aspirations.
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