trade

  • 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

    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…

  • 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…

  • 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

    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

    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…

  • 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…

  • Business News

    Thai SEC unmoved by US Bitcoin ETFs approval

    The Securities and Exchange Commission (SEC) of Thailand stated that it is not currently considering the possibility of permitting asset management firms to launch Bitcoin Exchange-Traded Funds (ETFs) in the country. This comes in the wake of the United States SEC endorsing the establishment of 11 Bitcoin ETFs the previous week. On January 11, rule changes were approved by the…

  • 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.…

  • Thailand News

    Crisis at sea: Attacks threaten 1.31 trillion baht trade route

    Thailand‘s 1.31 trillion baht worth of exports to Europe and the Middle East hangs in the balance as armed militants threaten a vital trade route. Expert warnings of a trade catastrophe are ringing alarm bells worldwide. Amid escalating conflicts in the Red Sea, Associate Professor Aat Pisanwanich, an international economics guru, has raised the red flag on the severe consequences…

  • 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…

  • Thailand News

    Thailand and Malaysia enhance bilateral relations to boost border trade and tourism

    A significant agreement was recently reached between the leaders of Thailand and Malaysia to bolster their bilateral relations, with a specific focus on enhancing border trade and tourism. The Thai Prime Minister, Srettha Thavisin, and his Malaysian counterpart, Anwar Ibrahim, agreed upon this during their working visit at the newly inaugurated Sadao customs checkpoint in Songkhla. Their meeting, which took…

  • 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…

  • Pattaya News

    Global EV trend surges with Thailand joining the race

    A surge in the global trend of electric vehicles (EVs) usage has been highlighted by Poonphong Naiyanaphakorn, the director of the Trade Policy and Strategy Office. This information was shared with the public on a day not too long ago. The International Energy Agency (IEA) has predicted that the total EV sales are set to rise from 10 million units…

  • Thailand News

    Illicit pork trade crackdown in Thailand set to conclude next month

    Government spokesperson Chai Wacharonke announced a determined push to dismantle the underground illicit pork trade in Thailand, indicating that all related cases should be resolved by next month. The joint statement was delivered yesterday, alongside representatives from the Anti-Money Laundering Office (Amlo), Department of Special Investigation (DSI) and other agencies, providing an update on the ongoing operation. Chai Wacharonke stressed…

  • Economy News

    Trade negotiations with EFTA set to boost Thai GDP

    The Trade Negotiations Department of the Commerce Ministry gears up for the seventh round of trade negotiations with the European Free Trade Association (EFTA), to seal the deal by mid-2024. The announcement was made by Auramon Supthaweethum, the director-general of the department, who confirmed that the negotiations will take place from November 6 to November 9 in Geneva, Switzerland. The…

  • Thailand News

    Investment ties strengthened: Parnpree’s mobile meeting proposal for Thai-Vietnam relations

    Parnpree Bahiddha-Nukara, the Foreign Affairs Minister, yesterday proposed the reinstatement of mobile meetings to bolster investment ties between Thailand and Vietnam. The proposal came about during a meeting with Pham Minh Chinh, the Prime Minister of Vietnam, concluding Parnpree’s two-day official visit to the neighbouring nation. The visit, which kicked off on October 25, marked Parnpree’s inaugural official trip since…

  • Events

    THAIFEX – HOREC Asia 2024 partners with AWC for Bangkok HOREC showcase

    Koelnmesse, an international leader in organising food fairs and one of the organisers of THAIFEX – HOREC Asia 2024, has announced key partnerships with a series of world-class integrated properties, including Asset World Corporation Public Company Limited (AWC). This landmark collaboration with Thailand’s leading integrated lifestyle real estate group underscores THAIFEX – HOREC Asia’s pivotal role as a premier HoReCa…