trade
- Thailand News
Thailand to boost exports with soft power in China and Hong Kong
In a move to boost exports, Thailand’s Department of International Trade Promotion (DITP) is targeting China and Hong Kong markets with a potent mix of soft power. From tantalising Thai food to fashion and films, the DITP is pulling out all the stops. DITP Director-General Phusit Ratanakul Seriroengrit announced Monday that eight offices in China and Hong Kong are spearheading…
- 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…
- Business News
Fiorentine fusion: Ttalian-Thai forum sparks economic amore
The ninth annual Italian-Thai Business Forum (ITBF) was recently held in Florence, Italy, organised by the Thai Chamber of Commerce, the Thai Board of Trade, and the Italian Embassy in Bangkok, the event aims to bolster economic cooperation between the two nations, which have enjoyed 156 years of diplomatic relations. Business leaders from 16 Thai and 13 Italian companies attended…
- 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 trade event forecasts 60 billion baht in deals
Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai praised the THAIFEX–ANUGA ASIA 2024 event, predicting trade deals worth 60 billion baht over five days. The event, held from May 28 to June 1 at the Impact Exhibition Centre in Mueang Thong Thani, was organised by the Ministry of Commerce’s Department of International Trade Promotion, in collaboration with the Thai…
- 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…
- Thailand News
Thai trade envoy spices up talks with Shanghai to stir-fry ties
In a significant move to bolster economic ties, Thai trade representative Narumon Pinyosinwat met with Zhao Zhuping, Deputy Secretary-General of the Shanghai municipal government yesterday. The discussion centred on expanding trade and investment between Thailand and Shanghai. “Chinese investors sought the highest number of investment privileges from the Thai government last year.” Narumon noted that 430 projects valued at 160…
- Thailand News
Commerce Minister aims to boost Thai-Japan trade
The Deputy Prime Minister and Minister of Commerce, Phumtham Wechayachai, embarked on an international mission to amplify Thailand’s soft power and enhance Thai-Japan trade. This trip, scheduled for May 11-12, will take the Minister to Tokyo, Japan, where he will participate in the 24th Thai Festival Tokyo event. Wittaya Maneenet, the Ministry of Commerce spokesperson, clarified that the purpose of the…
- Phuket News
Phuket police crack down on illegal fireworks trade at Patong Beach
Patong Beach in Phuket has seen a boost in police activity in recent days, aiming to put an end to the unlawful trade and use of fireworks. The initiative, which began on May 1, has already led to the arrest of three individuals, including a citizen of New Zealand. Patong Police have been systematically carrying out inspections along the beach…
- 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…
- 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…
- Thailand News
Potential Australian trade barrier could impact Thai auto exports
The Thai Automotive Industry Association (TAIA) has issued a warning that a prospective trade barrier, set to be imposed on new cars shipped to Australia next year, may impact auto exports. The trade barrier, known as the new vehicle efficiency standard, is a regulation being developed to limit carbon dioxide emissions per kilometre from new cars sold in Australia, according…
- 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,…
- 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
US plans to reinstate GSP scheme for Thailand, to help trade relations
The United States signalled its intent to reinstate the Generalised System of Preferences (GSP) scheme for Thailand, as disclosed by Thailand’s Commerce Minister, Phumtham Wechayachai. This development comes after the scheme expired in 2020. Phumtham’s statement emerged following a strategic dialogue with US Secretary of Commerce Gina Raimondo and a representative from the President’s Export Council. The dialogue served as…
- 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…
- 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…
- Business News
Thailand optimises on Kazakhstan’s tourism and trade potential
Deputy Foreign Minister of Thailand, Jakkapong Sangmanee, emphasised the government’s optimism about enhanced tourism and trade between Thailand and Kazakhstan. This follows the forthcoming signing of three memoranda of understanding (MoUs) in April. Sangmanee, accompanied by the Tourism and Sports Minister Sudawan Wangsuphakijkosol, led a delegation of Thai investors to Kazakhstan’s capital, Astana, and its largest city, Almaty. During their…
- 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
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
Thai Hong Kong Trade Association signs MoU with Industries Federation
The Federation of Hong Kong Industries (FHKI) and the Thai Hong Kong Trade Association (THKTA) have joined forces, signing a Memorandum of Understanding (MoU) that promises to revolutionise bilateral trade. FHKI Chair Steve Chuang made the announcement on January 24, declaring that the Association is strategically eyeing ASEAN and Thailand as prime territories for Hong Kong manufacturers looking to navigate…
