EFTA nations signed a trade deal with Thailand on the sidelines of WEF 2025.
Keystone-SDA / Laurent Gillieron
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Listening: Switzerland signs trade deal with Thailand
Switzerland, as a member of the European Free Trade Association (EFTA), signed a free trade agreement with Thailand on the sidelines of the World Economic Forum in Davos on Thursday.
Swiss Economics Minister Guy Parmelin described the conclusion of negotiations between EFTA and Thailand as a major success for Swiss foreign economic policy. The agreement will facilitate access for Swiss companies to this strategic market with its high economic potential.
“This is the first free trade agreement with a European country,” emphasised Thai Deputy Commerce Minister Pichai Naripthaphan. The agreement covers trade in goods and services, investment, intellectual property protection and competition rules.
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Switzerland is taking its tally of free trade agreements up to 37 with new economic deals being signed with Thailand and Kosovo.
In addition to Switzerland, EFTA includes Iceland, Liechtenstein and Norway. According to the organisation, negotiations with Thailand were launched in June 2022 in Iceland. Subsequently, ten rounds of negotiations were held in Bangkok, Geneva and Oslo.
The volume of merchandise trade between the EFTA states and Thailand in 2023 amounted to €3.2 billion euros (CHF3 billion).
Translated from German by DeepL/jdp
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