trade
- Business News
Thai stock market rebounds amid renewed investor confidence
The Thai stock market made a strong comeback yesterday, experiencing a rise of approximately 1.3%. This resurgence was mirrored in other regional markets which also bounced back from significant losses incurred on Friday. Investors are seemingly reassured by the belief that a full-scale war in the Middle East is unlikely. This sentiment was further bolstered by the decision of the…
- Business News
Bitcoin rebounds amid Middle East military escalation uncertainty
Bitcoin, the largest cryptocurrency, recently bounced back from its steepest drop in over a year, marking the beginning of potential volatility across asset markets as investors grapple with the looming prospect of a military escalation in the Middle East. Bitcoin yesterday rose by a maximum of 5.9% and was traded at around US$64,600 as of 11.40am in London. Smaller cryptocurrencies…
- Business News
Thai industries fear trade slump due to Myanmar conflict
The Federation of Thai Industries (FTI) voiced concerns over the escalating armed conflict in Myanmar, predicting a further slump in border trade and a surge in illegal workers from Myanmar into Thailand. The Thailand-Myanmar border trade, valued annually at 100 billion baht (US$2.7 billion), tends to suffer whenever conflict escalates, according to Kriengkrai Thiennukul, chairman of the FTI. “There are…
- Thailand News
Thailand ready to host 100,000 Myanmar refugees amid conflict
Thailand’s readiness to accommodate an influx of 100,000 refugees from Myanmar, due to escalating conflicts, was recently confirmed by Foreign Affairs Minister Parnpree Bahiddha-Nukara. The announcement came in the wake of rebel forces capturing Myawaddy, a border town adjacent to Tak’s Mae Sot district. The minister’s statement followed a meeting held yesterday to discuss the evolving situation in Myanmar. The…
- Business News
Thai govt accelerates Thai-European FTA negotiations
The Thai government is speeding up negotiations for the Thai-European Free Trade Association (EFTA) to conclude within the current year. This information followed a discussion between Commerce Minister Phuntham Wechayachai and Swiss Ambassador Pedro Zwahlen. The minister revealed that the talks are being hastened following the policy of Prime Minister Srettha Thavisin’s administration, which desires to expand opportunities and bolster…
- Thailand News
Thailand’s bid to join OECD gains momentum
Thailand’s quest for the Organisation for Economic Co-operation and Development (OECD) membership gains momentum as insiders reveal surprising support from top diplomats. Thailand’s aspiration to kick-start the accession process for OECD membership has garnered significant backing from the organisation’s members, reports a diplomatic insider. The revelation came to light during the inaugural OECD Council meeting held in Paris on Tuesday,…
- Thailand News
Deputy foreign minister backs Mekong region trade
To revitalise cross-border commerce, the Thailand deputy foreign minister made a pivotal visit to Chiang Saen Port on Monday, accentuating its pivotal role in the lower Mekong region. With cross-border trade in Chiang Rai soaring to an estimated 100 billion baht last year, according to the Foreign Ministry, the port’s strategic location where the Kok and Mekong Rivers converge offers…
- Economy News
UK Foreign Secretary Cameron elevates trade links in Thailand
United Kingdom Foreign Secretary David Cameron arrives in Bangkok today in a bid to strengthen trade and economic ties between the politically beleaguered UK and the burgeoning Thailand. The former British prime minister intends to sign a UK-Thai strategic partnership roadmap on his inaugural visit to the Indo-Pacific region. This roadmap is designed to enhance collaboration on defence, healthcare, and…
- Business News
Commerce Minister markets Thailand film industry in Hong Kong
Phumtham Wechayachai, commerce minister, is currently on a visit to Hong Kong to market Thailand’s film industry and Y Series TV dramas. The visit, which started recently and is scheduled to run until Tuesday, also includes exploring avenues to broaden the Hong Kong market for Thailand’s agricultural products. The visit is led by Phumtham, who is also the deputy prime…
- Thailand News
Bangkok cops bust plus-size women’s sex trade party organiser
Bangkok’s bustling city centre became the scene of a significant police raid when police apprehended a 49 year old woman, the alleged organiser of plus-size women’s parties involving illicit activities. The police operation, led by high-ranking officers from the Metropolitan Police, resulted in the seizure of condoms, sex toys, and other items related to the sex trade. The crackdown took…
- Thailand News
Mukdahan hosts first Border Trade Fair to boost economy
Commerce Minister Phumtham Wechayachai inaugurates the first Border Trade Fair in Mukdahan, aiming to boost the border economy and facilitate fruit exports through the Mukdahan checkpoint. The event also included a visit to the One-Stop Service Center (OSS) in Mukdahan – Nakhon Phanom to support exporters. The inaugural Border Trade Fair in Mukdahan province, which takes place from February 29…
- Business News
Thailand’s border trade faces slowdown amid regional politics
The Federation of Thai Industries (FTI) predicts a slowdown in Thailand’s border trade for the current year due to political turmoil in Myanmar and economic issues in other neighbouring nations. Myanmar, Laos, Malaysia, and Cambodia, nations that share borders with Thailand, are facing obstacles to their economic growth, says Montri Mahaplerkpong, the FTI Vice-Chairman. Among the challenges, he highlights the…
- Phuket News
Phuket hookah bar raided in ongoing clampdown on illicit tobacco trade
In the bustling city of Phuket, a hookah bar in Cherng Talay was stormed by a team of ten officials from the Thalang District. Following the crackdown on the illicit tobacco trade, authorities have apprehended and charged the venue operator involved in the illegal activity. The operation was initiated late into the night at 11.09pm on Friday, February 16. This…
- Thailand News
Man arrested in Songkhla for illegal online sale of protected birds
The Thai authorities arrested a 40 year old man for illegally selling protected wild birds online, claiming he needed the money for his child’s medical expenses. The man, identified as Tatsana Pohtong, was apprehended at his home in Songkhla province with 29 caged birds in his possession. The arrest followed an investigation into his Facebook posts advertising the sale of…
- Thailand News
Thailand-Cambodia border gate to boost trade despite landmine challenges
The Ban Nong Ian-Stung Bot border gate between Thailand and Cambodia is soon to be operational, aiming to stimulate trade and logistics between the two nations. This announcement was made by Parinya Potisat, the governor of Sa Kaeo province yesterday. The new frontier passage will ease the pressure on the Ban Khlong Luek-Poipet border by providing an additional route for…
- Thailand News
Bangkok Gems and Jewellery Fair set to boost Thailand’s economy
The 69th Bangkok Gems and Jewellery Fair is set to take place from February 21 to 25 at the Queen Sirikit National Convention Center. The Department of International Trade Promotion and the Gem and Jewellery Institute of Thailand (GIT) are organising the event, in partnership with a joint committee that includes 13 government and private sector organisations. As one of…
- Thailand News
Thailand set to sign free trade agreement with Sri Lanka
Prime Minister Srettha Thavisin is set to sign a free trade agreement (FTA) with Sri Lanka during his upcoming visit to the island nation this week, according to spokesperson Chai Watcharonke. This marks the 15th FTA for Thailand and the first since PM Srettha assumed office the previous year. PM Srettha’s visit comes at the invitation of Sri Lanka’s Premier,…
- Business News
Thai government aims to boost cross-border trade despite 2023 contraction
The Thai government is aiming to reinvigorate its cross-border trade, including transit trade, this year following a 2.6% contraction in 2023, which saw the value fall to 1.7 trillion baht (US$48 billion). The Foreign Trade Department’s director-general, Ronnarong Phoolpipat, stated that the Commerce Ministry would expedite cross-border and transit trade according to the government’s investment promotion strategy for 2024-27. To…
- Business News
Bangkok gears up for eighth round of FTA talks with EFTA
Bangkok is preparing to host the eighth round of free trade agreement (FTA) discussions with the European Free Trade Association (EFTA), scheduled to take place from January 30 to February 2. The Thai government aims to wrap up the negotiations by the middle of this year. Chotima Lemsawasdikul, the director-general of the Trade Negotiations Department, has confirmed that the discussions will…
- Thailand News
US warns Thai navy over salvage operations of sunk HTMS Sukhothai
The Royal Thai Navy (RTN) received a second warning from the Joint United States Military Advisory Group Thailand (Jusmagthai) over salvage operations on the US-built HTMS Sukhothai, which sank in the Gulf of Thailand back in 2022. This information was revealed by Bangkok’s Move Forward Party MP, Chayaphon Satondee, during a parliamentary debate on the 2024 budget bill. Chayaphon explained…
- Thailand News
Thai coconuts take China by storm: How RCEP sparks culinary craze
Thai coconuts have become a sensation, captivating the taste buds of the vast Chinese market. Since the initiation of the Regional Comprehensive Economic Partnership (RCEP) in 2022, these delectable coconuts have found their way into an array of Chinese dishes, from cakes and coffee to hot pot extravaganzas. Two years on, the RCEP has not only transformed the economic landscape…
- Thailand News
Thailand’s Kra Isthmus Land Bridge promises economic boom for Penang Port
Thailand is eyeing a colossal infrastructure project, a 90-kilometre land bridge across the Kra Isthmus, set to revolutionise maritime trade and shower economic benefits on ports in northern Peninsular Malaysia. Penang Port Sdn Bhd CEO V Sasedharan envisions this ambitious project as a potential game-changer, akin to the impact the Suez Canal had on Egyptian waterway-adjacent ports. The proposed land…
- Economy News
Thailand urges Australia to expand trade and investment ties
The Commerce Minister of Thailand, Phumtham Wechayachai, has urged Australia to broaden their trade and investment ties, as well as discover new avenues for economic collaboration. Following his recent discussion with Australian ambassador Angela Macdonald, he revealed that Thailand views Australia as a vital ally in the Pacific and a key collaborator in devising joint economic strategies to enhance trade,…
- Business News
Thailand’s cabinet approves one-year import permits for animal feed raw materials
The cabinet has greenlit policies for next year’s import of raw materials required in animal feed production, such as animal feed corn, soybean meal, and fish meal. The intention behind this move is to back local production. A significant change in this year’s policy is the annual approval of import permits, a reduction from the previous term of three years.…
- Business News
Thailand’s commerce ministry targets 2 trillion baht in cross-border trade by 2027
Aiming to increase the value of cross-border and transit trade to 2 trillion baht by 2027, the Commerce Ministry is expediting the application of the cross-border trade strategy. The Ministry is establishing four dedicated task forces to tackle border trade-related issues. Commerce Minister Phumtham Wechayachai, following Wednesday’s committee meeting on trade, cross-border, and transit trade promotion, shared that the committee…
- Business News
Exports grow for fourth consecutive month in Thailand misses projections
November marked the fourth consecutive month of growth for Thailand’s customs-based exports, which saw a 4.9% rise from the same period last year, according to data from the customs department. However, this fell short of the projected 6.3% year-on-year increase anticipated in a Reuters poll. Last month, October had witnessed an 8% year-on-year rise. In an unexpected turn, imports for…
- Politics News
Cambodia’s prime minister to discuss cross-border trade in Thailand
Hun Manet, the prime minister of Cambodia, has plans to visit Thailand in February to participate in a joint Thai-Cambodian cabinet meeting. The primary focus of this meeting will be to discuss and enhance bilateral cooperation, particularly concerning cross-border trade between the two nations. This was revealed by Thailand’s prime minister, Srettha Thavisin, during a media interaction on Monday. The…
- Thailand News
Private hospitals under fire as government cracks down on skyrocketing costs
The Internal Trade Department tightens control on private hospitals, urging them to play ball in the battle against soaring medical expenses. The government demands transparency and cooperation from over 300 private medical institutions. Wattanasak Sur-iam, the director-general of the Internal Trade Department, has thrown down the gauntlet in a bid to bring down the cost of living for citizens. In a…
- Business News
Thai and Malaysian PMs to boost border trade and tourism
A meeting slated for tomorrow between Thai Prime Minister Srettha Thavisin and Malaysian Prime Minister Anwar Ibrahim in Songkhla province is expected to tackle initiatives aimed at enhancing Thai-Malaysian border trade and tourism. A source revealed that the agenda includes a proposal from Thai tourism businesses to grant Tor Mor 6 immigration clearance form exemptions to Malaysian visitors at five…
- Business News
Free trade agreement: Sri Lanka and Thailand set to seal the deal
With a renewed focus on trade agreements, Sri Lanka is preparing to finalise and sign a free trade agreement (FTA) with Thailand on February 3, next year. The development was announced by Sri Lanka’s Cabinet spokesperson today, November 21, confirming that discussions were on track for completion in December. The impending agreement is part of the island nation’s strategic efforts…
