trade
- 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%…
- Thailand News
Thailand signs trade agreement with EU, same tax rates as before Brexit
Under a new agreement with the European Union, Thailand can export to the trade bloc under the same tax rates and trade privileges from before Brexit. After the UK left the trade bloc on January 1, the tariff rate quota deal between Thailand and the EU was renegotiated. The agreement goes into effect next month. The recent agreement only covers…
- 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…
- 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
Thai investors in Myanmar concerned with future business following the military coup
With potential sanctions and boycotts against Myanmar likely following the military coup, the Thai-Myanmar Business Council says Thai investors are concerned their businesses in the neighbouring country will be affected. It’s unclear what effect the coup will have on Thai-owned businesses in Myanmar. The country’s economy, already battered by the Covid-19 pandemic, is expected to slow down with potential sanctions.…
- 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…
- 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…
- World News
15 Asia-Pacific countries form the world’s largest trade bloc, the great RCEP reset
After 8 gruelling years of negotiation, 15 countries have signed onto the largest free trade bloc in history. In a joint statement, the leaders of the countries, signatories of the trade deal, say RCEP (Regional Comprehensive Economic Partnership) will form a crucial part of economic recovery once the pandemic is over. The deal excludes the US, which withdrew from a…
- 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…
- Thailand News
Thai Kra Canal – numbers don’t stack up
OPINION The possibility of Thailand being sliced into 2, with a canal running east to west through the middle of the Isthmus of Kra (the Thai section of the Malay Peninsula), is back on the table. There’s a lot of heated response from readers, for and against the plans. Is there an economic model to support the new canal? How…
- World News
A Land Bridge or the Kra Canal for Thailand?
OPINION by guest writer Tony P Restall Why the land bridge idea will never work Much has been written about the long-proposed Thai or Kra Canal and the on and off decision to proceed, or not. Over the recent years several high-level committees have examined the economic benefits to establish a water connection by means of a canal linking the East…
- World News
Thai PM orders the suspension of trade across the Burmese border in Kanchanaburi
Despite Thailand closing its international borders back in April, in reality, some of the country’s land borders are almost impossible to seal and prevent the ‘leaks’ of locals crossing over. Thailand has land and river borders with Myanmar, Malaysia, Laos and Cambodia – all with official checkpoints but also hundreds of well-worn tracks as villages casually traverse the official borders.…
- Politics News
US, Australia take hawkish tone towards China in talks
Australian and US foreign and defence ministers have taken a hawkish tone against China in the latest round of annual talks between the two countries. US Secretary of State Mike Pompeo set the tone for the talks saying to the the Australian ministers that the United States “knows the threats that you and the rest of the free world face”. “And…
- Business News
Thai exports hit new low, pandemic to blame
Thailand’s exports have dropped drastically and the Thai Ministry of Commerce blames the coronavirus pandemic for the low levels and the shrinking supply and demand market. In a report released yesterday, exports for May are the lowest they’ve been in 4 years. Worldwide lockdowns have caused production in Thailand to take a plunge, according to the director-general of the commerce…
- Covid-19 News
Price spike for Thai latex, condoms and medical gloves in demand
It’s clear the coronavirus pandemic has lead to a surge in demand for plastic gloves, but demand has also increased for condoms (locked up for 2 months, blah, blah…). The high demand has increased the price of latex and business is booming for companies in Thailand. Malaysia had a significant drop in natural rubber production and The Thai Rubber Latex Corporation…
- Economy News
Special boxes made for delivering smelly durian
You either love durian, or you hate it. But many people can agree, it smells bad… really bad. Some hotels and transportation services even ban the pungent fruit. Thailand researchers have now developed a special odour-proof boxes to be used to deliver durian. The box is important when selling the Thai fruit because just the smell of it can drive…
- Covid-19 News
Thai company steps up to ease condom shortage
A shortage of condoms is one thing. A shortage of condoms while people around the world are stuck at home is another. Since a top condom manufacturer in Malaysia halted production due to the coronavirus pandemic, a Thai company is now stepping up to fill the gap. Thai Nippon Rubber Industry, the country’s biggest condom manufacturer, is increasing production by…
- Economy News
Thailand loses US free trade benefits worth billions of baht
Thailand loses duty free access for 42.2 billion baht in exports to the US market from today, 6 months after Washington warned it would pull back on trade privileges unless the kingdom committed to labour rights reforms. Once trade preferences for Thai products are removed they are subject to tax of between 4% and 5%, making them more expensive in…
- World News
Thai-Malaysian border set to open this weekend
The Thai-Malaysian border is set to reopen this weekend to assist the struggling rubber trade, causing locals to express concern that a spike in new Covid 19 cases could result in Thailand because of the move. Security officials, however, are assuring the public that intensive screening measures are in place in anticipation of the re-opening. Commander of the Fourth Army…
- Covid-19 News
Thailand seals borders in North, Northeast
“All travellers should closely monitor announcements concerning the border closure to prevent misunderstandings.” Thailand’s borders are now sealed to all but freight traffic in the North and Northeastern regions. The third Thai-Lao Friendship, linking Nakhon Phanom province with Khammouane province in Laos, closed at 10pm yesterday as a precaution against the Covid-19 coronavirus. Goods vehicles are still permitted but drivers…
- World News
The US and China sign Phase One of new trade agreement today
The United States and China are poised to sign a trade truce today after a protracted trade spat that has impacted both countrys’ economies and shaken spread unease through world trade links. Both sides describe the result of the ‘Phase One’ agreement as ‘hard fought’. The signing signals a fragile truce and a prickly period of reconciliation between the world’s two…
- Economy News
Thai exports down 4.5% in October, 2.35% for the year
PHOTO: Commerce Ministry Thai exports have crashed 4.5% for October 2019, compared with the same month last year. The total contraction in first 10 months of this year has now averaged 2.35%, and things don’t look like improving any time soon, according to the Commerce Ministry, as reported in the Bangkok Post. The director-general of the ministry’s Trade Policy and…
- Economy News
Sugar industry expert says banning of 3 agri-chemicals will severely damage business
The president of the Thailand Society of Sugarcane Technologists has criticised the recently- implemented ban on three agri-chemicals that were commonly used in the industry. The Nation reports that Dr Kitti Chunhawong insists the ban on Paraquat, Chlorpyrifos and Glyphosate will cripple business. “Currently Thailand is the world’s fifth sugar producer and second biggest exporter with more than 11 million…
- Business News
American firms want to relocate to Thailand to counter US-China trade war
PHOTO: “You’re all welcome!” – Thai PM Prayut Chan-o-cha at the ASEAN Business Summit – Bangkok Post US business leaders visiting Thailand are looking for opportunities, especially relocating their production bases, as they try to sort out heir businesses in the wake of the US-China trade war. The US Secretary of Commerce Wilbur Ross and executives of 16 American companies…
- Economy News
15 countries poised to sign onto the world’s largest trade bloc
Whilst the US is consumed with polarised internal politics and building walls, and the UK economy withers under nearly four years of paralysing Brexit farrago, leaders from 15 Asia Pacific countries, including South Korea, China, Japan, Australia and New Zealand, are poised to sign onto the world most powerful trade bloc – RCEP. Yesterday, despite some concerns from the Indian…
- World News
“Build ASEAN brands” says AirAsia CEO
The CEO of AirAsia, Tony Fernandes, has told ASEAN governments to help create and strengthen “ASEAN brands” to drive the regional economy. Addressing the ASEAN Business and Investment Summit 2019, Mr. Fernandes says, although ASEAN is the world’s fourth largest economy, there are few ASEAN brands with impact beyond their national or regional boundaries. He blamed “both visible and invisible…
- Economy News
Thailand has 6 months to discuss GSP with US
PHOTO: TNA Thai authorities still have six months to discuss the US decision to suspend tariff exemptions for Thai exports under its Generalised System of Preferences, according to PM Prayut Chan-o-cha. The PM says the US has suspended GSP privileges not only for Thailand but other countries too. Thailand has enjoyed GSP privileges for nine years and Washington might think…
