trade
- Thailand News
Thailand News Today | Land bridge project, “Thai Bridge”, Chaing Mai black widow | October 12
Daily Thai TV News, with all the latest updates. Posted around 5pm, Monday to Friday. Protest leader says activists “in it for the long haul” Human rights lawyer and protest leader, Arnon Nampa, says political activists seeking to oust the current Thai government are “in it for the long haul”. The leader of the People’s Group (formerly the Free People…
- 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.…
- World News
Australia uses national flower for new marketing logo
Australia is replacing its international marketing logo with the nation’s wattle flower to represent the country during trade missions and business exchange programs. Trade Minister Simon Birmingham is giving the green light to change the logo from the current one which displays two boomerangs surrounding the words “Australian Unlimited”. The new logo features the letters “AU” on top of a gold…
- 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…
- Economy News
Instant noodle exports increase as neighbouring countries stock up
Craving noodles? Seems like many people stuck at home want the cheap and quick meal. Preparation is quick, the price is low, there’s flavours aplenty and they’re easy to find. Thailand’s exports of instant noodles have gone up this year, the country’s Ministry of Commerce reported yesterday. With ridiculously low prices, a long shelf life and, let’s admit, some pretty…
- 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…
- Economy News
Thailand’s U-turn on agri-chemical ban shows US hitting where it hurts
PHOTO: matichon.co.th The US is piling the pressure on Thailand over its agri-chemical ban, and it appears to be working. A report by the Nikkei Asian Review claims the Kingdom’s proposed ban on three agri-chemicals – Paraquat, Glyphosate and Chlorpyrifos – would have affected American agricultural exports into Thailand. But the US President has weighed into the issue. Following news…
- 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…
- World News
US will consider a review of GSP cuts – ASEAN Summit
PHOTO: US National Security advisor Robert O’Brien and Thai PM Prayut Chan-o-cha at yesterday’s Summit meeting in Bangkok – Thai PBS World Behind the group photos at the ASEAN Summit in Bangkok, the backroom conversations have been fast and furious. As a result of several unofficial and official meetings, US officials now says they will consider reviewing the suspension of…
- 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…
- Economy News
Thai exports will suffer from Trump decision
US President Donald Trump announced on Friday that the US will suspend 1.3 billion dollars worth of duty-free trade for certain items from Thailand, claiming that Thailand has not taken steps to protect labor rights. In a letter to US House of Representatives Speaker Nancy Pelosi and Vice President Mike Pence, Trump said he had suspended duty-free treatment because Thailand…
- World News
EU and UK zone in on possible breakthrough
“Even if a text is prepared for the leaders this week, any deal would have to be approved by a skeptical British parliament, which holds a special session on Saturday.” by Dave Clark British and European negotiators headed back into intense negotiations on a draft Brexit deal after late-night talks brought them closer but so far fails to confirm an…
- World News
US will slap tariffs on EU following Airbus trade ruling
PHOTO: Airbus factory in Toulouse, France – Manatour.fr The US is making more trade waves, in addition to its long-running trade war with China. Now it’s taking on the largest trade bloc in the world – the European Union. Aircraft and agricultural items from Europe will now be subject to US tariffs in the latest round of a long legal…
- Business News
Industry group calls for further cut in Thai policy interest rate
“Thai private sector, recently adjusted downward the export growth projection for this year to 2.9 – 3%.” The Federation of Thai Industries have their hopes set on the Monetary Policy Committee of the Bank of Thailand making another cut in the policy interest rate, currently set at 1.5%. With the US Fed looking to drop its interest rate this week,…
- World News
China’s exports fell last month in lead up to next month’s trade talks
China’s exports fell 1% on-year last month amid the bruising trade war with the US that is disrupting markets in the world’s top two economies. The drop comes after a surprise 3.3% rebound in July despite the year-long battle with the US and weakening global demand. But economists cited by Bloomberg had forecast a 2.2% rise ahead of the release of…
- World News
South Korean President in Thailand to sign trade agreements
PHOTOS: The Nation PM Prayut Chan-o-cha and his wife Naraporn Chan-ocha, have welcomed South Korean President Moon Jae-in and his wife Kim Jung-sook to Government House in Bangkok this morning in the midst of an official state visit that continues tomorrow. A government spokesperson says that this was President Moon’s first official visit to Thailand since assuming his post in May…
- Business News
US-China tit-for-tat rattles Asian markets after Trump’s ‘tariff tantrum’
US President Trump has caused widespread panic in Asian financial markets today after Fridays “tariff tantrum” where he used Twitter to announce new levels of tariffs on Chinese imports after China announced their response to his previous ramping up of the ongoing trade war between Washington and Beijing. Asian shares have headed southward today after the President escalated tariffs in…
- World News
US-China trade war accelerates formation of RCEP trade bloc
The escalation of the trade war between China and the US might help push forward negotiations of the Regional Comprehensive Economic Partnership (RCEP) free trade agreement. RCEP, once formed, will be the largest trading bloc in the world. Trade ministers from China, India, Japan, South Korea, Australia, New Zealand and the 10 ASEAN member states met in Beijing last weekend for…
- Business News
Currencies and stock exchanges flutter as the dust settles on the latest threats in the US-China trade spat
Central banks in India, Thailand and New Zealand cut interest rates this week in an attempt to fend off any harm from the spiralling US-China trade war. The escalation of the trade war, sparked by fresh US tariff threats by US President Trump over the weekend, is seen as the reason for the policy shift. On Monday, the People’s Bank…
- World News
Weekend RCEP meeting move closer to the world’s biggest trading bloc
PHOTO: Asia Nikkei Whilst the UK looks to walk away from the EU trade bloc and the US continues to ramp up the trade war with China, the formation of the Regional Comprehensive Economic Partnership (RCEP), which would be the largest trade bloc in the world, continues to gather pace. The RCEP, initiated by ASEAN in 2012, is a proposed…
- Politics News
Thailand and EU prepare for signing of a strategic trade partnership
Thailand and the European Union are ready to sign a draft Strategic Partnership and Cooperation Agreement to promote bilateral trade and investment in the future. Federica Mogherini, an EU Representative for Foreign Affairs and Security Policy, and vice chairwoman of the European Commission, met today with PM Prayut Chan-o-cha during her visit to Thailand to attend the ASEAN Plus Foreign…
