Thailand is waiting to hear if it has dodged a potentially crippling European Union ban on seafood exports, after auditors Friday wrapped up a probe into illegal fishing.

Last year, the EU hit Thailand with a "yellow card," warning it faced an outright ban unless the military government took action on illegal fishing and slave labour in the multi-billion dollar seafood industry.

Thai officials have said the ban could cost them up to $1 billion a year in lost exports.

An EU team has spent the last week assessing Thailand's recent reforms but declined to comment on their findings, citing the sensitivity of the issue.

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