List of negotiated agreements. Agreements that, until now, are only discussed without the formal action of the parties concerned, are not mentioned. According to the Taiwan Foreign Trade Bureau of the Ministry of Economy, the trade surplus increased by 22.5%. Bangladeshi economic leaders have shown great interest in concluding free trade agreements, particularly with India, in the hope that such agreements will help close the country`s trade deficit with India, which has stood at more than $2 billion. In fact, the two nations have formed a committee of experts to accelerate the pace of negotiations for a free trade agreement. During the discussions, Thai entrepreneurs acknowledge that Thai industry and its consumers will benefit from an increase in imports, which would inevitably result from a free trade agreement with Taiwan, especially considering that import duties on certain products would be significantly reduced or even eliminated altogether. Thailand would have more choice and choice of imports, and the ability to import better quality goods and services will not only increase the purchasing power of Thai consumers, but also free up the domestic labor market and allow for increased specialization. This foreign competition would encourage Thai industry to increase its capacity for innovation. Annual two-way trade with Thailand reached $9.3 billion last year. EFTA has concluded bilateral agreements with the following countries – including dependent territories – and blocs: an interactive list of bilateral and multilateral free trade instruments is available on the TREND Analytics website.  For fully multilateral agreements (not listed below), see the list of multilateral free trade agreements. List of agreements between two states, two blocs or one bloc and one state.
Two countries that already share a good amount of annual bilateral trade, Taiwan and Thailand, will become even closer friends if a new era opens in textile trade and international trade and investment continue to grow. Manik Mehta, a regular contributor to Taiwan, argues that the two nations would do well to consolidate their existing partnership with the formal adoption of a free trade agreement.