EU and Thailand to launch trade negotiations

The European Union and Thailand have agreed to launch free trade negotiations, European Commission President Jose Manuel Barroso and Thai Prime Minister Yingluck Shinawatra announced Wednesday as the premier visited Brussels. 'The free trade agreement will be an important tool to boost our trade and investment as well as create mutual growth and jobs,' Yingluck said, expressing hope of a quick conclusion of talks and the establishment of a 'well-balanced' deal. According to dpa, the EU accounted for 10 per cent of Thailand's external trade, Yingluck said, adding that more than 5.5 million Europeans visited the south-east Asian country each year. Barroso said that trade between the two amounted to almost 30 billion euros (39 billion dollars) in 2011.