EFTA-Thai deal opens door to increased salmon exports

The deal was forged by EFTA, the European Free Trade Association, of which the two Nordic countries are members. EFTA also includes Switzerland and Liechtenstein, but being landlocked they are not seafood producers.

Thailand represents a huge market for Norwegian salmon and trout, totalling more than 8,300 tonnes a year, so the deal should help to increase that trade. It is one of the fastest growing economies in Asia.

More than 20% of the salmon is sold through e-commerce websites or by apps.

It means that virtually all Norwegian and Icelandic seafood will be sold to Thailand free of tariffs.

Negotiations between Thailand and the four EFTA countries began in June 2022, and were completed late last year. The agreement was signed last week in Davos, Switzerland, during the World Economic Forum.

The Norwegian Seafood Council’s representative for Southeast Asia, Åshild Nakken, said: “The agreement is historic and good news for Norwegian seafood trade to Thailand, which accounts for over half of all Norwegian exports to the country.

“Thailand has long been open to Norwegian salmon, fjord trout and mackerel and Thai consumers are eating increasingly more. Thailand is the most important market for Norwegian seafood in Southeast Asia and one of the region’s fastest growing economies.”

The Norwegian Seafood Council runs marketing activities for salmon, trout and mackerel in Thailand, and said it was monitoring the export of other species.

The new EFTA agreement will be an advantage for Norwegian players and will provide a reduction in tariffs in the years to come, Nakken said.