trade
- Thailand News
Thailand revives trade with Pakistan in major economic pact
After a decade of silence, Thailand and Pakistan are back at the negotiating table, reigniting hopes for a booming trade partnership. The two nations have agreed to resume talks under their Joint Trade Committee (JTC) at the ministerial level, with Thailand hosting the next round of discussions later this year. In a recent meeting between Thailand’s Minister of Commerce, Pichai…
- Business News
Thailand targets US$308bn exports by 2025 amid trade optimism
The Commerce Ministry has ambitious plans to boost Thailand’s export sector, setting a target of 2% to 3% growth for 2025. The goal, projected to bring in US$305 to US$308 billion, follows a robust performance in 2024, where export growth is expected to reach 5%, generating a record US$300 billion. These figures reflect optimism driven by the electronics, agricultural, and…
- Thailand News
Thailand aims to boost trade with Mongolia to 2027 goals
Thailand is gearing up to expand its trade relations with Mongolia, aiming to surpass the 100 million US dollar mark in trade value by 2027. Following discussions with Amarsanaa Tumur, Mongolia’s Ambassador to Thailand, the Minister of Commerce, Phichai Naripthaphan, highlighted efforts to bolster economic cooperation through the Thailand-Mongolia Joint Trade Committee. This initiative aims to open new markets for…
- Business News
Thailand and Malaysia aim for US$30 billion trade by 2027
Thailand and Malaysia set an ambitious goal to boost bilateral trade to US$30 billion by 2027, strengthening economic cooperation in pivotal sectors such as trade, investment, border connectivity, and tourism. The agreement was reached during Prime Minister Paetongtarn Shinawatra’s recent official visit to Malaysia, where she engaged in discussions with Malaysian Prime Minister Anwar Ibrahim. The two-day visit culminated yesterday,…
- Thailand News
Thai PM’s first official visit to Malaysia to boost trade ties
Thailand Prime Minister Paetongtarn Shinawatra is set to embark on her inaugural official visit to Malaysia, where she will co-chair the 7th Annual Consultation. The consultation will take place in Putrajaya, located just south of Kuala Lumpur, as confirmed by deputy government spokesperson Sasikarn Watthanachan. Spanning two days, the visit will begin on Monday, December 16, marking Paetongtarn’s first official…
- Crime News
Seven arrested in Songkhla for 2 million baht scam and gun trade
Seven young adults were arrested in Songkhla’s Mueang district for orchestrating a complex scam that defrauded victims of nearly 2 million baht (US$59,170) and subsequently funding the illegal production of firearms for sale. The arrests took place following an investigation into fraudulent activities conducted by a gang that targeted individuals through random calls, convincing them to invest in a scheme…
- Business News
Thai trade rises 6.18% to 1.51 trillion baht in 10 months
Thailand’s border and cross-border trade surged by 6.18% in the first 10 months of 2024, reaching a total value of 1.51 trillion baht (US$43.43 billion), according to Commerce Minister Pichai Naripthaphan. The government has set an ambitious goal of expanding this trade to 2 trillion baht (US$58 billion) annually by 2027. The export value during the period rose by 5.64%…
- Thailand News
UAE and Thailand bilateral agreements to boost trade and travel
The United Arab Emirates (UAE) and Thailand are poised to deepen their partnership through a series of bilateral agreements, according to UAE ambassador to Thailand Obaid Saeed Obaid Bintaresh Aldhaheri. Speaking at a UAE National Day celebration on Thursday, November 28, Aldhaheri underscored Thailand’s importance as a strategic partner beyond traditional oil trade. “We look forward to strengthening bilateral relations…
- Business News
Thai businesses urged to monitor US trade policy under Trump
The Thai Wholesale and Retail Trade Association advises local businesses to closely watch global trade dynamics and the international economy in light of Donald Trump’s recent return to the White House. This call to attention comes amid concerns about potential shifts in US trade policy that could have far-reaching impacts. Somchai Pornrattanacharoen, serving as an honorary advisor to the association,…
- Thailand News
Thailand introduces new inspection system for fuel measurement
Thailand’s Ministry of Commerce has initiated a new registration system for private entities to become certified inspection units, aiming to enhance the reliability of fuel measurement at service stations. The Department of Internal Trade (DIT) announced the criteria for this registration process. Starting July 26, they have been promoting this initiative and welcoming applications since August. This move is part…
- Business News
Thailand to boost trade ties with South Asian nations
Thailand is setting its sights on strengthening ties with South Asian countries to enhance trade in food, energy, and human security sectors across the Southeast region. Foreign Affairs Minister Maris Sangiampongsa, during his visit to India, discussed these ambitions following a meeting with Thai ambassadors and consuls stationed in South Asia. Maris highlighted South Asia’s strategic significance, noting that the…
- Business News
Thailand, US bolster trade ties with focus on high-tech investments
Commerce Minister Pichai Naripthaphan and US Ambassador Robert F. Godec yesterday engaged in discussions focusing on trade tariffs and investment in high-tech sectors, aiming for strategic alignment. During their meeting yesterday, October 17, Pichai emphasised that the talks were crucial for establishing a strategic partnership and bolstering economic ties between Thailand and the US, enhancing both bilateral and investment relations.…
- Thailand News
Don’t ban TEMU: Thai experts call for enhanced trade standards
Thailand should embrace trade opportunities with China rather than follow Indonesia’s lead in banning the Chinese e-commerce platform TEMU, say experts. In light of Indonesia’s recent decision to prohibit the TEMU application, the International Institute for Trade and Development (ITD) voiced its opposition to a similar move by Thailand. Wimol Pankong, Deputy Director (Academic) of ITD, urged the Thai government…
- Business News
New action plan to tackle global trade shifts and aid Thai industries
The International Institute for Trade and Development is set to unveil an action plan designed to address shifts in global trade regulations and industry supply chains. The institute aims to present this strategic plan to the Commerce Ministry, the Thai Chamber of Commerce, and the Federation of Thai Industries by November. Suphakit Chareonkul, the executive director, highlighted that recent global…
- Thailand News
UK signs pivotal trade and investment deal with Thailand
The United Kingdom government has finalised a significant trade and investment agreement with Thailand, marking the first such deal since the Labour government assumed office in July. Commerce Minister Pichai Naripthaphan and UK Trade Minister Douglas Alexander signed the enhanced trade partnership agreement in Bangkok yesterday, September 18. The deal seeks to eliminate specific trade barriers, focusing on sectors such as…
- Business News
Thailand’s trade deficit with China rises 15.7% to US$20 billion
Thailand’s Trade Policy and Strategy Office (TPSO) raised alarms about the expanding trade deficit with China. Imports from China surged by 7.12% year-on-year in the first half of 2024, reaching US$37.6 billion (approximately 1.33 trillion baht). This spike resulted in a trade deficit of US$20 billion (around 720 billion baht), marking a 15.7% increase compared to the previous year. Smartphones,…
- Thailand News
Thai government destroys counterfeit goods worth 325 million baht
Thai officials recently conducted a significant destruction of counterfeit and pirated goods in an effort to combat intellectual property rights violations. The ceremony took place at the Air Defence Command headquarters in Don Mueang, Bangkok, and was led by Deputy Prime Minister and Commerce Minister Phumtham Wechayachai. Phumtham, alongside Deputy Commerce Minister Napintorn Srisangpang, Commerce Ministry Permanent Secretary Wuttikrai Leeviraphan,…
- Business News
Canada-ASEAN free trade agreement expected by next year
A free trade agreement (FTA) between Canada and the Association of Southeast Asian Nations (ASEAN) is anticipated to be finalised by next year, according to officials from Canada and Thailand involved in the discussions. Surin Thanalertkul, the Canadian embassy trade commissioner, along with Martin Sullivan, senior market development officer of the Canada Indo-Pacific Agriculture and Agri-Food Office (IPAAO), discussed the…
- Thailand News
Thailand’s cross-border trade hits 912 billion baht, up 3.6%
Thailand’s cross-border and transit trade reached a significant milestone, totalling over 912 billion baht in the first half of the year, marking a 3.6% increase compared to the same period last year. The government attributed this growth to enhanced promotion of cross-border trade in recent months. Government spokesperson Chai Wacharonke referencing data from the Department of Foreign Trade, noted that…
- Thailand News
Thailand, China boost trade alliance amid investment opportunities
Thailand and China have engaged in discussions to enhance trade cooperation, focusing on expanding the market for Thai livestock products and fruits in China, while also welcoming Chinese investment in emerging industries within Thailand’s Eastern Economic Corridor (EEC). Deputy Commerce Minister Suchart Chomklin, appointed by Commerce Minister Phumtham Wechayachai, participated in the third meeting of the Sub-Committee on Trade and…
- Thailand News
Myanmar civil war boosts maritime trade at Thailand’s Ranong Port
Myanmar’s shift to maritime transport for exports due to its civil war is increasing activity at Ranong Port in Thailand, potentially boosting the government’s Land Bridge project. Deputy Transport Minister Manaporn Charoensri indicated that the civil war in Myanmar has disrupted cross-border trade with Thailand, prompting entrepreneurs to use Ranong Port instead of land routes through Tak’s Mae Sot district.…
- Business News
Thai-Philippine MoUs for rice exports worth 2.8 billion baht signed
The Commerce Ministry recently facilitated a significant trade development, leading a team of rice exporters to the Philippines and securing memorandums of understanding (MoUs) valued at 2.8 billion baht (US$77 million). Ronnarong Phoolpipat, Director-General of the Foreign Trade Department, headed the delegation, which included Charoen Laothamatas, president of the Thai Rice Exporters Association, during a visit from July 3 to…
- Thailand News
Seoul-searching: South korea & Thailand kickstart trade pact talks
The Trade Ministry of South Korea yesterday announced the initiation of negotiations with Thailand to establish an Economic Partnership Agreement (EPA) to enhance bilateral trade and investment. The South Korean delegation, headed by Deputy Minister for FTA Negotiations Roh Keon-ki, is set to engage in discussions with his Thai counterpart, Chotima Iemsawasdikul, in Bangkok through until tomorrow, as reported by…
- Thailand News
NSC to review permanent border checkpoint with Cambodia
The National Security Council (NSC) will thoroughly examine the trade benefits and security concerns surrounding a proposed new permanent border checkpoint with Cambodia, according to a senior official. Police in Trat province are advocating for Ban Tha Sen in Mueang district to be established as a permanent checkpoint following Cabinet approval, pending NSC support. Ban Tha Sen borders Phothisat province…
- Thailand News
Thailand and Malaysia aim for 1 trillion baht trade by 2027
Thailand and Malaysia have set an ambitious goal to boost bilateral trade to 1 trillion baht by 2027, with a focus on enhancing border economic connections through the Twin Cities initiative. Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai outlined the plans following the third Thailand-Malaysia Joint Trade Committee (JTC) meeting in Kuala Lumpur. Phumtham highlighted the strong relationship…
- Business News
Thailand aims for US$30 billion bilateral trade with Malaysia
The government is set to participate in the Joint Trade Committee (JTC) meeting with Malaysia on July 4, aiming to enhance bilateral trade to US$30 billion by 2025. Chotima Iemsawasdikul, Director-General of the Trade Negotiations Department, announced that Commerce Minister Phumtham Wechayachai will attend the third JTC meeting between Thailand and Malaysia in Kuala Lumpur. This will be Thailand’s inaugural…
- Business News
Thailand trades up: Digital efforts land 32nd spot on global index
Thailand climbed to the 32nd position out of 65 countries on the Global Trade Modernisation Index (GTMI) 2024, highlighting its moderate performance in digital trade. The Kingdom of Thailand ranked 3rd among ASEAN nations and showed a significant improvement in readiness for digital trade. Chairman of the International Chamber of Commerce (ICC), Montri Mahaplerkpong announced yesterday, June 9, that growth…
- Thailand News
Thai-Malay twin-city initiative to boost southern economic growth
The Thai government announced a collaboration with Malaysia to promote a twin-city concept in the Deep South, aiming to stimulate economic growth and bring peace to the region. Deputy Prime Minister and Commerce Minister Phumtham Wechayachai recently chaired a meeting to review the progress of this initiative, which seeks to transform the longstanding conflict zones into thriving trade hubs through…
- Thailand News
Thailand leads in fresh durian exports to China, 121 tonnes by April
Thailand firmly established itself as the top exporter of fresh durians to China, with over 121,398 tonnes shipped in 2024, according to Global Trade Atlas (GTA) data. Additionally, mango exports to South Korea have surged, influenced by favourable trade agreements. Government spokesperson Chai Wacharong announced that Thailand’s Ministry of Commerce revealed new data showing the country exported fresh durians to…
- Thailand News
Thai-made armoured vehicles and pistols delivered to Bhutan
In a momentous event overseen by Defence Minister Sutin Klungsang, a ceremony unfolded today to transfer a cache of arms to Bhutan’s police force. The consignment included 10 armoured vehicles and 230 pistols, all manufactured by two Thai companies. Set against the backdrop of the Defence Ministry‘s permanent secretary office building, the ceremony symbolised the strong defence cooperation between Thailand and…
