The cabinet has approved the Thailand-Bhutan free trade agreement (FTA), which is expected to take effect early next year.Speaking after Wednesday's cabinet meeting, deputy government spokeswoman Lalida Persvivatana said the cabinet approved the submission of the Thailand-Bhutan FTA to parliament for approval under Section 178 of the constitution.
The government is preparing the necessary measures to ensure the agreement takes effect as planned on Jan 1, 2027.
Thailand and Bhutan signed the pact on April 3 last year, aimed at enhancing trade relations between the two countries.
According to Ms Lalida, the FTA is the first trade deal between the two countries, covering 10 chapters and four annexes, with the objective of liberalising and facilitating trade, reducing trade barriers, promoting economic and technical cooperation, and establishing clear and mutually beneficial trade rules for both nations.
The agreement also covers Bhutan's Gelephu Mindfulness City, a new special administrative and economic zone.
