EU seeks 'fasttrack'

The idea reflects the different stages of development among Asean members, with the EU hoping to move forward in talks with individual countries that are ready to enter negotiations.

This follows four rounds of talks between the two trade blocs in which little progress has been made.

Commerce Minister Chaiya Sasomsap said after meeting yesterday with the EU delegation that there were strong intentions to start FTA negotiations with Thailand.

"We foresee a good opportunity to liberalise trade with the EU," said Chaiya, adding that Thailand would shortly set up a special team to negotiate with EU officials.

The EU has urged Thailand to wrap up negotiations on a fasttrack agreement within two years.

EU Ambassador Friedrich Hamburger is optimistic that the potential FTA with the Kingdom can cover trade, services and investment.

"We hope to make progress [on a wider deal] in the next round of AseanEU negotiations," he said.

The next session of AseanEU FTA talks will be held in Hanoi from October 1517. EU Trade Commissioner Peter Mandelson is expected to participate.

The European Union is also planning to set up an EU Chamber of Commerce in Thailand, due to a rise in EU investment here.

Meanwhile, Munenori Yamada, the newly appointed president of the Bangkok office of the Japan External Trade Organisation, yesterday met Chaiya to discuss plans to invest in the Thai energy sector.