Thailand - Latest News/Current Events, Economic Overview & Trade Relations
AEI | Quick Facts about Thailand
| Official Name | Kingdom of Thailand |
| Capital | Bangkok |
| Location | Southeastern Asia, bordering the Andaman Sea and the Gulf of Thailand, southeast of Burma |
| Area | total: 514,000 sq km land: 511,770 sq km water: 2,230 sq km |
| Climate | tropical; rainy, warm, cloudy southwest monsoon (mid-May to September); dry, cool northeast monsoon (November to mid-March); southern isthmus always hot and humid |
| Terrain | central plain; Khorat Plateau in the east; mountains elsewhere |
Editor PicksBrowse Asia News Archive
Thailand Kept Interest Rate Unchanged
Thailand's consumer confidence rose for the first time in five months in June after the seven-month-old government said it would spend more than 1.4 trillion baht by the end of 2012. Policy makers in the Southeast Asian nation have begun saying the economy…
read full newsICBC Bank May Buy Stake in ACL Bank Pcl From Bangkok Bank
The Thai government may approve ICBC's bid to buy its shares in ACL, the Kao Hoon newspaper reported May 20, citing Finance Minister Korn Chatikavanij. Korn said he will support the deal if the takeover benefits the Thai bank, according to the report.…
read full newsThai Exports Plunge but Improvement is Predicted
Thailand's exports for the month of May dropped dramatically since 1992 due to lack of demand for products. Shipments declined 26.6 percent from the prior year, according to the Commerce Ministry's Permanent Secretary Siripol Yodmuangcharoen.
read full newsThailand: Saha Calls For Subsidies
Saha Group, Thailand's biggest consumer products conglomerate, called for the government to provide subsidies to companies to help them save their workers from layoffs during the economic crisis.
read full newsThailand: FTI Still Seeks B380m Retraining Budget
The Federation of Thai Industries (FTI) is still seeking government approval for its proposed skill retraining budget worth 380 million baht.
read full newsThailand Trade Surplus Reaches 18-Year High
Thailand's trade surplus reached $3.58 billion in February, its widest trade surplus in 18 years.
read full newsBrowse Asia News Archive
Trade Agreements
ASEAN - China Free Trade Area
The ASEAN - China Free Trade Agreement will apply in an area involving 1.7 billion consumers, making it the world's largest trading area. The agreement currently establishes a zero-tariff market. The agreement now contains trade in goods, services and dispute settlement. Investment is still under negotiation.
ASEAN - Korea Free Trade Area
Under the ASEAN- Korea Free Trade Agreement, Korean businesses will gain access to the ASEAN market, which contains nearly 500 million people. The agreement contains trade in goods and tariffs will be either eliminated or reduced on Korean products. http://www.aseansec.org/18063.htm
Global System of Trade Preferences among Developing Countries
Algeria
Argentina
Benin
Bolivia
Brazil
Cameroon
Chile
Colombia
Cuba
Ecuador
Egypt
Ghana
Guinea
Guyana
Iran
Iraq
Libya
Mexico
Morocco
Mozambique
Nicaragua
Nigeria
Peru
Sudan
Tanzania, United Republic Of
Trinidad And Tobago
Tunisia
Venezuela
ZimbabweThe Global System of Trade Preferences arose out of the United Nations Group of 77. The Group first appeared interested in 1976 to develop a global system of trade for developing countries. Over years of negotiations, the agreement was signed by the participating members of the Group of 77. The members are currently looking to expand their economic ties to other developing countries in Asia, Latin America and Africa. http://www.unctadxi.org/templates/Page____6207.aspx
Laos - Thailand Preferential Trade Agreement
Laos - Thailand Preferential Trade Agreement
People's Republic of China - Thailand Free Trade Agreement
People's Republic of China - Thailand Free Trade Agreement
Thailand - Australia Free Trade Agreement
In Force since 2005, the Thailand-Australia Free Trade Agreement (TAFTA) is a market opening agreement which allows Australian products greater access. Upon entry into force, Thailand eliminated more than half of its tariff, which over a significant amount of Australian exports. While Australian exports were previously pushed out of the Thailand market due to quotas and high tariffs, it now has access in numerous areas. http://www.thaifta.com/english/eng_au.html
Thailand - New Zealand Closer Economic Partnership Agreement
In force since 2005, the New Zealand-Thailand Closer Economic Partnership (CEP) will open up the Thailand market to New Zealand exporters. All tariffs on New Zealand goods to Thailand will be eliminated by 2025 and New Zealand will eliminate all tariffs on Thai goods by 2015. The New Zealand government said in a press statement, "The CEP is seen by both sides to be not just of economic importance but also of strategic importance. It will make both countries more competitive in the global market place by encouraging Thais and New Zealanders to pool their expertise, ideas, technology and resources.”http://www.mft.govt.nz/tradeagreements/thainzcep/pdfs/thainzcep-december2004.pdf
Thailand - People's Republic of China Free Trade Agreement
Limited to agricultural products, the Thai-China Free Trade Agreement entered into force in 2003, and negotiations on a more comprehensive agreement are expected to conclude before 2010.http://english.people.com.cn/200506/19/eng20050619_191069.html
Trade and Investment Framework Arrangement between the United States of America and the Association of Southeast Asian Nations
United States of AmericaThe Enhanced partnership between ASEAN and the United States will increase cooperation and understanding in the areas of politics, economics and safety. EAI, Enterprise ASEAN Initiative, will strengthen economic cooperation and will allow and increase of trade and investment between both parties. Both sides have also vowed to work together on various projects in the development arena including, fighting infectious disease and disaster relief. http://www.ustr.gov/assets/Trade_Agreements/TIFA/asset_upload_file932_9760.pdf
Trade Organizations
ASEAN Plus 3
Forum as a coordinator of cooperation between ASEAN and China, Japan and South Korea.
Asia Cooperation Dialogue (ACD)
The Asia Cooperation Dialogue (ACD) is an International Organization to promote Asian cooperation at a continental level, helping to integrate the previously separate regional organizations of political or economical cooperation such as ASEAN, SAARC
Asia-Pacific Economic Cooperation (APEC)
Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim countries or regions (styled 'member economies') to discuss the regional economy, cooperation, trade and investment. The membership is claimed to account for approximately 41 percent of the world's population, approximately 56 percent of world GDP and about 49 percent of world trade. The activities, including year-round meetings of the members' ministers, are coordinated by the APEC Secretariat.
Association of Southeast Asian Nations (ASEAN)
Association of Southeast Asian Nations, commonly referred to as ASEAN, is a geo-political and economic organization of 10 countries located in Southeast Asia, which was formed on August 8, 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Its aims include the acceleration of economic growth, social progress, cultural development among its members, and the promotion of regional peace.
Ayeywady-Chao Phraya-Mekong Economic Strategy
The Ayeywady-Chao Phraya-Mekong Economic Strategy (ACMECS)was formed as a political, economic and cultural organization. The ACMECS places an emphasis on using self help and partnership to achieve sustainable development, including poverrty reduction, in line with the UN Millennium Development Goals.
Bay of Bengal Iniative for MultiSectoral Technical and Economic Cooperation (BIMSTEC)
The Bay of Bengal Initiative for MultiSectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation involving a group of countries in South Asia and South East Asia. The member nations of this group are: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
Centre on Intergrated Rural Development for Asia and the Pacific (CIRDAP)
The Centre for Integrated Rural Development for Asia and the Pacific (CIRDAP) is a regional intergovernmental and autonomus organization
Council for Security Cooperation in the Asia Pacific (CSCAP)
The Council for Security Cooperation in the Asia Pacific (CSCAP) is a non-governmental (second track) process for dialogue on security issues in Asia Pacific.
East Asia Summit (EAS)
The East Asia Summit (EAS) is a Pan-Asia forum of 16 countries in East Asia, with ASEAN in a leadership position.