On August 29, 2024, the Parliament has approved “Thailand-EU Comprehensive Partnership and Cooperation Agreement – PCA” to advance relations among Thailand, EU, and its 27 member states. The PCA aims to foster a closer and more strategic partnership, enhance dialogue, and expand cooperation across various sectors such as politics, trade, investment, and social issues. Among the key benefits of the PCA are its potential to boost trade and investment opportunities between Thailand and the EU, particularly by expediting negotiations for a Thailand-EU Free Trade Agreement, enabling access to best practice standards, and enhancing competitiveness. It also facilitates access to funding and research initiatives in science, technology, and innovation, all of which are essential for the country's economic recovery and development policies.

​The PCA also plays a role in facilitating travel for Thai citizens in supporting the consideration for Schengen visa exemptions for Thai ordinary passport holders. In addition, the PCA also enhances Thailand's position on the international stage, contributing to support its bid for membership in the Organisation for Economic Cooperation and Development (OECD). The Thai-EU PCA also solidifies Thailand's role as a strategic partner of the EU in Southeast Asia.