UK-Thailand Enhanced Trade Partnership Debate
Full Debate: Read Full DebateDepartment: Department for Business and Trade
Douglas Alexander
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UK-Thailand Enhanced Trade Partnership
Douglas Alexander Excerpts(2 months, 1 week ago)
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The Minister for Trade Policy and Economic Security (Mr Douglas Alexander)
I am pleased to announce that the UK Thailand enhanced trade partnership was signed and launched on 18 September in Bangkok.
Thailand is south-east Asia’s second largest economy. The total trade in goods and services between the UK and Thailand was £5.9 billion to the end of Q1 2024.
The UK-Thailand ETP is a non-legally binding memorandum of understanding, which creates a framework to enhance trade, investment and economic co-operation between the UK and Thailand. The new partnership is designed to boost trade and investment across 20 priority areas including automotive, tourism, investment, digital trade, financial services, and education.
The partnership is underpinned by a comprehensive workplan guided by the priorities identified through consultations with businesses in the UK and Thailand. Its delivery will be overseen by the UK-Thailand Joint Economic and Trade Committee, which will monitor progress and agree updates to the workplan guided by ongoing business consultation.
This partnership further supports this Government’s commitment to economic growth through providing a strong commitment and underpinning actions to further enhance our strong bilateral trade relationship with Thailand.
The UK-Thailand enhanced trade partnership text is available online on gov.uk.
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