trade
- Business News
Thailand aims for early 2024 Efta trade negotiations wrap-up
Thailand plans to wrap trade negotiations with Efta nations by early next year appears to be the key objective for Thailand’s trade representatives. The chief negotiator, Auramon Supthaweethum, who is also the director-general of the Department of Trade Negotiations, shared that the recent two-level discussions are taking place in Oslo, Norway. The fifth round of the Thai-Efta FTA negotiations has…
- Thailand News
ASEAN membership: Roadmap endorsed for Timor-Leste’s inclusion and Thai trade
Yesterday, a senior official at the Ministry of Foreign affairs announced that the Association of Southeast Asian Nations (ASEAN) has recently endorsed a roadmap that outlines the steps for Timor-Leste becoming its 11th member. This ASEAN membership move is expected to benefit Thailand economically by expanding trade and investment opportunities between the two nations. Timor-Leste initially submitted its request for…
- Business News
Timber regulations tightened, Thailand targets Siamese rosewood exports
The Commerce Ministry of Thailand recently announced two new regulations targeting the timber trade. Beginning on July 17, traders will be required to hold a certificate of import to import timber, processed wood, and wooden artefacts. Additionally, starting August 16, the export of Siamese rosewood (phayung) will be prohibited, Bangkok Post reports. The director-general of the Foreign Trade Department, Ronnarong…
- Business News
China-Africa Expo to boost trade, explore emerging sectors
The upcoming third China-Africa Economic and Trade Expo, set to take place in Changsha from June 29 to July 2, is expected to further enhance economic and trade cooperation between China and Africa. The expo, which occurs every two years in Hunan Province, has gained significance as a platform under the Forum on China-Africa Cooperation framework. China currently holds the…
- Economy News
Highway 12 expansion completed, boosting Thailand-Myanmar-Laos economic ties
The completion of Highway 12’s expansion, which connects Thailand with Myanmar, and Laos, is expected to significantly enhance cross-border economic activities among the three nations. Government spokesperson Anucha Burapachaisri announced that Prime Minister Prayut Chan-o-cha is optimistic about the economic benefits the highway will bring, particularly to the residents of Kalasin and Mukdahan in northeast Thailand. Highway 12 forms a…
- World News
US and Taiwan sign trade deal, sparking warning from China
The United States and Taiwan have signed a trade agreement aimed at deepening economic relations between the two sides, a move that has drawn a warning from Beijing. The US-Taiwan Initiative on 21st Century Trade seeks to enhance trade by streamlining customs checks, improving regulatory procedures, and establishing anti-corruption measures between the US and Taiwan, which China claims as part…
- Politics News
US-Taiwan trade deal signing set to escalate Beijing-Washington tensions
Taipei has announced that the United States and Taiwan are set to sign a trade agreement, a move that is expected to increase tensions between Beijing and Washington over the island. The Office of Trade Negotiations in Taipei stated that the first set of agreements under “The US-Taiwan Initiative on 21st Century Trade” would be signed in Washington, without providing…
- Business News
Thai Oil predicts equal oil demand and supply, boosted by Asian refineries
Thai Oil Plc (TOP), a subsidiary of the PTT Plc conglomerate, anticipates a more favourable outlook for oil trading in 2023, with global oil demand and supply projected to be nearly balanced. Crude oil demand is predicted to reach 101 million barrels per day (MBD), a 1.6 MBD increase from 2022, while supply is expected to be 101.3 MBD, a…
- Business News
Thailand aims to finalise free-trade agreements with EFTA, Sri Lanka and UAE by mid-next year
Thailand is keen to finalise free-trade agreement (FTA) negotiations with the European Free Trade Association (EFTA), Sri Lanka and the United Arab Emirates (UAE) by mid-next year, with the aim to boost trade and investment. The potential FTA between Thailand and Sri Lanka is particularly appealing due to Sri Lanka’s strategic location in South Asia, with connections to India, Pakistan,…
- Hot News
Stock market share trades to be taxed in Thailand after being exempt for past 30 years
After being exempt for the past 30 years, the Thai cabinet has decided to make stock market share trades taxable. According to Thai PBS World, Finance Minister Arkhom Termpittayapaisith says that now all stocks that are traded on the market, whether at a profit or loss, will be subject to a financial transaction tax of .1%. He furthered that the…
- World News
Laos-China high-speed railway to bring increased trade opportunities
The high-speed railway from Laos to China is full steam ahead as Laotian authorities say they hope it will increase trade opportunities for the region. The link, known as the Vientiane-Boten railway was opened late last year on December 3, as part of China’s Belt and Road Initiative. Now, the railway operates daily to offer more economical travel, cutting travel…
- World News
Freight trains between North Korea and China suspended due to Covid-19
A South Korean media agency said today that freight train services between China and North Korea have been suspended. The agency said services were suspended due to Covid-19 infections in the Chinese border city of Dandong. Meanwhile, South Korean authorities say they are keeping an eye on the situation. An official from South Korea’s unification ministry said the government is…
- Economy News
Thailand’s March exports spike nearly 20% year on year
Last month, Thailand’s exports surged at an unexpectedly high rate, jumping by 19.5% when compared to the same time last year. A Reuters poll conducted in March had predicted the country’s exports would only rise by 2.4%. According to the Thai customs department data, 2 major products contributing to the export jump were gold, and electronics. Gold exports in March were…
- Thailand video news
Asia News Today | Tensions on Korean Peninsula, Ramadan starts for Asia’s Muslims
The sister of North Korean leader Kim Jong Un has called the South Korean defence minister a “scum-like guy”, warning that Seoul may face “a serious threat” for their talk about pre-emptive strikes from the north. The comments from Kim Yo Jong’s come during heightened tensions on the Korean peninsula after Pyongyang carried out a rush of missile tests this…
- World News
United States trade dispute on solar products from Thailand, Southeast Asia
Projects in the United States might freeze over a recent dispute on solar panels imported from Thailand, Malaysia, Vietnam, and Cambodia. Even though these countries supply the United States with about 80% of its solar imports, the United States’ Commerce Department is scheduled to probe whether the solar products are circumventing tariffs. The probe is over whether Chinese manufacturers are…
- Thailand video news
Asia News Today | Malaysia refuses to add sanctions on Russia & Stranded Russians in Thailand
South Korea, heading to the polls tomorrow for the election of the next president, has reported a new record daily high of 342,446 COVID-19 infections… no that’s not a typo. The country also reported an additional 158 Covid-related deaths. As the country goes through the final day of electioneering for, what’s been a toxic and nasty campaign, more than a…
- Transport News
Rail to connect Thailand to China delayed 3 years to 2026
With recent plans fast-tracked to build a bridge to connect Thailand to the Chinese-La0 cargo train route, more rail projects are being focused on. But the plan to create high-speed rail service that travels 873 kilometres from Bangkok into China is now slated to begin operations 3 years later than originally planned. The first leg of the high-speed rail, which…
- World News
The world’s largest trade bloc launches today – January 1, 2022
The new Asian regional trade pact, the Regional Comprehensive Economic Partnership, or RCEP, becomes effective as of today. The RCEP is the world’s biggest free trade agreement, larger than the EU, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the EU, the Mercosur trade bloc in South America, and the recent US-Mexico-Canada Free Trade Agreement. RCEP includes all the ASEAN…
- Thailand video news
Thailand News Today | 32M Pfizer doses on the way, weakening Thai baht | August 13
Thailand’s Public Health Minister says there will be 32.5 million doses of the Pfizer vaccine in the country by the end of the year. The death from Covid-19 of another fully vaccinated healthcare worker has led to increased calls for Pfizer booster shots. The weakening Thai baht, against the US dollar, is propping up the export numbers. Tourism officials in…
- Economy News
15 most popular tourism provinces contribute 70% of total GDP
Wealth inequality around the world has always been the haves versus the have nots, but in Thailand, it has become the toured versus the toured not. The Fiscal Policy Officer’s senior expert on macroeconomic policy recently presented some stark figures showing the astounding gap in contribution to the GDP between tourism provinces and non-tourism provinces. Only 15 provinces contribute 70%…
- Politics News
Diplomatic spat between China and Australia, Chinese suspend economic dialogue
A diplomatic spat between China and Australia has the Communist State suspending all economic dialogue “indefinitely” between the 2 countries as of today. A statement by China’s National Development and Reform Commission detailed some of the reasoning behind the move, which is under the China-Australia Strategic Economic Dialogue. “Recently, some Australian Commonwealth Government officials launched a series of measures to…
- World News
Myanmar preparing to shut down import of Thai soft drinks via land transport
Thailand’s Commerce Minister is preparing to hold urgent talks with Myanmar following the news that Burmese officials are planning a ban on the import of Thai soft drinks over land. Jurin Laksanawisit says the reason for the ban is not known, with Myanmar insisting only imports via ship will be allowed. This ramps up the cost for Thai businesses and…
- World News
Suez Canal blocked by large container ship blown off course
Cargo ships on one of the busiest trade routes in the world, the Suez Canal, came to a stop after a large container vessel got stuck sideways and blocked marine traffic. More than 100 ships were reportedly blocked from transit along the canal, which stretches across Egypt from the Red Sea to the Mediterranean connecting Asia to Europe. Apparently, a…
- Thailand News
Thai PM walkout, easing of covid restrictions | February 19
Thailand News Today Police have arrested a man in Samut Prakan, southeast of central Bangkok, for allegedly possessing war weapons and attempting to sell assault rifles online through Instagram. The “dewaffen” Instagram page for “Oz John Woo” has an eclectic combination of cat photos and gun photos. The bio says “military support/ small arms import/export service. Life is limited, please…
- World News
Thailand likely to have substantial trade losses following Myanmar coup
With Myanmar’s military now in power after a bloodless coup, Thailand is likely to see substantial losses when it comes to trade with the neighbouring country, possibly forgoing up to 50 million baht a day due to changes in transporting goods and strict military checkpoints. If the military’s tight security inspections continue in the long term, Thailand could lose more…
- World News
Britain to apply for membership with Asia Pacific free trading bloc
In the wake of Britain’s Brexit and separation from the EU trading bloc, the UK is now applying to become part of the free trade bloc made up of 11 Asia and Pacific nations. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership also includes Australia, Canada, Japan and New Zealand, a potential market population of around 500 million. The countries generate more…
- Thailand News
Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8
Thousands of residents in Songkhla, Yala and Narathiwat, in the very south of Thailand, have been evacuated from their homes due to flash flooding from nearly a week of almost continuous heavy rain. Local authorities say a total of 18,024 households across 19 districts have been impacted. In Yala, the Sai Buri River has burst its banks, flooding homes and…
- World News
Thailand News Today | The RCEP reset, Hotel Talkfest, Protesters to be arrested | November 16
First day of the week with another Thailand News Today, all the latest news from around Thailand and the region. Hoteliers to discuss how to revive Thailand’s crippled hospitality industry The Tourism and Sports Ministry is holding a talkfest with15 hotel operators expected to join to discuss recovery solutions for the battered industry. Some top executives are planned to pitch…
- Economy News
US cuts Thailand’s tariff benefits after long-running pork dispute
Thailand’s duty-free privileges for US$817 million in exports with the US are to be revoked from the end of this year, according to US President Trump in an announcement yesterday. The President blamed a lack of progress in opening the Thai market to US pork products. Trump’s letter announcing the action follows more than 2 years of threats and negotiations…
- Economy News
Free Trade Agreement talks continue between Thailand and EU
Thailand is resuming trade talks with the European Union on the long-delayed Thai-EU free trade agreement. The 15th Thai-EU Senior Officials’ conference was held virtually between leading Thai and European trade officials this week. The push was on to have the Free Trade Agreement signed and sealed by the end of this year. Discussions were held regarding the ongoing affects…
