Free trade agreement with EU to uplift Thai economy but will affect sugar sector

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A research conducted by an independent agency has suggested that Thailand’s economy will boost due to a free trade agreement (FTA) with the European Union (EU), but it will affect the sugar sector.

The Institute of Future Studies for Development (IFD) stated that the agreement would increase GDP and enhance export but will affect the dairy, sugar, tobacco and alcoholic drinks.

At a public hearing in Chiang Mai on the Thai-EU FTA on Tuesday Taweechai Charoensedtasin, IFD director said, that this will boost the GDP growth by 1.7 per cent and exports by 10-14 per cent a year.

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