Thailand and the European Union (EU) have signed the Thai-EU Partnership and Cooperation Agreement (PCA) to boost bilateral cooperation.
Participants at the signing ceremony on Wednesday included Prime Minister Prayut Chan-o-cha and Foreign Minister Don Pramudwinai representing Thailand, while the EU was represented by its High Representative and Vice-President Josep Borrell, as well as Czech Prime Minister Petr Fiala.
The new pact will enhance political dialogue on issues of global concern and give more scope for mutually beneficial cooperation in a wide number of policy areas, including the environment, energy, climate change, transport, science and technology, trade, employment and social affairs, human rights, education, agriculture, non-proliferation, counter-terrorism, the fight against corruption and organised crime, migration, and culture.
It is expected to frame EU-Thai relations for many years to come.
The agreement will also make the Thai economy more competitive as it responds to global development trends. It will serve as a foundation for negotiations to establish a Free Trade Area (FTA) agreement between Thailand and the EU, as well as a knowledge-sharing platform for such projects as the universal healthcare scheme.
Moreover, the pact will pave the way to access a research fund to boost Thailand's capability in various industries.
The draft framework agreement covers areas of collaboration between Thailand and the EU in terms of political affairs, the economy, society and the environment, with plans in place defining the future direction of their mutual ties.
"Thailand is a longstanding partner for the EU in Asia. With the agreement signed today, we will be strengthening our dialogue and cooperation," said Mr Borrell.
"The signing of the PCA shows the importance and the potential of our bilateral relations. The EU and Thailand are committed to working together in support of the rules-based international order as well as advancing regional prosperity and stability," he added.
The signing ceremony marks the successful closure of lengthy negotiations. The agreement was provisionally signed off on Sept 2 by the chief negotiators from both sides.
The PCA will enter into force once it has been ratified by the EU member states and Thailand. The agreement foresees the provisional application upon completion of procedures contained therein by both parties.