Bangkok to host EU-Asean trade centre

Commerce Minister Porntiva Nakasai said the EU and the four-country European Free Trade Association (Efta) agreed at the Thai-European Forum 2009 held in Bangkok last week to set up the EU-Asean Trade Centre.

"The centre will support [private] enterprises in an effort to boost bilateral trade," Porntiva said, adding that the centre is set to open next year.

The Efta bloc comprises Switzerland, Norway, Iceland and Liechtenstein.

The nascent global economic rebound and the setting up of the centre are expected to see Thai exports to the EU increase by 10 per cent next year.

The centre will provide information supplied to both blocs to businessmen, focusing on marketing and investment plans.

Krisda Piampongdsant, who oversees the ministry's dealings with European trade partners, urged Thai exporters to explore more business opportunities with the EU's 12 newest members.

The new members are Bulgaria, Cyprus, the Czech Republic, Estonia, Latvia, Lithuania, Hungary, Malta, Poland, Romania, Slovakia and Slovenia.

"Although economic growth in those 12 countries is not high, they will achieve steady growth now that they are EU members. Investors from Western Europe are eyeing these countries. Thai exporters should grasp this opportunity," said Krisda.

According to the ministry, exports to the EU plunged by 31.7 per cent to US$10.09 billion (Bt340 billion) in the first eight months of this year over the same period last year, while exports to non-EU Eastern Europe dropped by 32 per cent to $1.4 billion during the same period.