trade
- 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
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…
- 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
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
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…
- Economy News
Local investor sentiment dampened by Brexit woes and slump in Chinese economy
The British pound fell today as investors fret over PM Boris Johnson’s chances of pushing his Brexit deal through the British parliament, while Asian markets were mostly down after data showed China’s economy expanded at its slowest pace in nearly three decades. The pound rallied almost to US$1.30 yesterday following news that negotiators had hammered out an agreement that would…
- 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…
- 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
The Thai charm-offensive on the South Korean President
Thai PM Prayut Chan-o-cha is inviting South Korean investors to increase their investment and trade with Thailand. The PM says Cabinet will consider offering incentives for South Korean businesses to invest in the country. South Korean President Moon Jae-in capped off an official two day visit to the Kingdom yesterday. The Thailand-Korea Business Forum was held yesterday in Bangkok with…
- 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…
- 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…
- Business News
Board of Trade want Bank of Thailand to urgently address the baht
PHOTOS & GRAPHIC: The Nation The Board of Trade are meeting with the Bank of Thailand tomorrow (August 8) to discuss the value of the Thai baht, its appreciation against the US dollar and Chinese yuan, and the impact on the country’s exports. Sanan Angubolkul, the Board of Trade’s vice chairman, speaking to The Nation, says the baht has appreciated around…
- 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…
- Business News
“Very dangerous” Huawei could be part of a US-China trade deal
President Donald Trump has reiterated his complaints against China’s Huawei Technologies but conceded that they could be resolved as part of a negotiated US-China trade deal. Without providing evidence, he went on to call the Chinese telecommunications giant “very dangerous.” The US has virtually banned firms from conducting business with Huawei, the world’s largest telecom manufacturer, citing unspecified national security…
- Business News
Export growth expected to be the lowest in four years
Export growth for Thailand this year is is now being pegged at less that 1%, the lowest growth in four years. Mr. Ath Pisarnwanich, director of the International Trade Study Centre at the University of Thai Chambers of Commerce is saying the low growth is a result of both the escalating US-China trade war and the Vietnam-EU free trade agreement. The…
- Business News
Urgent meetings to consider impact of US-China trade war on Thai exports
The Thai government is reacting quickly to perceived threats to the Thai export business by the ongoing US-China trade wars which have been ramped up in the past week by, firstly, US President Donald Trump rising the tariffs on a raft of additional Chinese items. Then China announced yesterday that it will impose tariffs on US$60 billion of US goods from June…
- World News
US-China trade tensions reverberate around the world
New global diplomatic and economic fault lines are appearing, with new and untested consequences emerging. ‘Volatile’ does’t even start to describe the current situation. US President Donald Trump’s combative stance, made clear with a new round of import tariffs imposed, continues to upend decades of trade diplomacy and cautious negotiations as he tries to coax China to change their trading…
- Business News
Thai businesses feeling pinch from china-US trade wars
Since the US China trade war kicked off in the middle of 2018, Thai businesses have begun to feel the pinch as indicated by a small downward trend in Thai export numbers. In the short run, some Thai export items may benefit from trade diversion as US and Chinese importers shifted to certain Thai products to avoid punitive tariffs. However, indirect…
- Business News
Thailand ‘slightly impacted’ from a no deal Brexit
The EU has agreed to postpone Brexit from next Friday and give UK PM Theresa May time to get her deal approved in Parliament. The PM had hoped to persuade the EU to delay the March 29 Brexit date, set in law, to June 30. But the EU country leaders have offered her two dates… A delay until May 22…
- World News
Vietnam and Thailand head toward $20 billion in two-way trade
FILE PHOTO Việtnam and Thailand are poised to reap the benefits of a US$20 billion two-way trade deal by 2020. A meeting of the Joint Committee on Bilateral Cooperation wrapped up in Thailand yesterday. The two-day meeting was co-chaired by Vietnamese Deputy PM and Foreign Minister Phạm Bình Minh together with the Thai Foreign Minister Don Pramudwinai. The two sides agreed…
- Northern Thailand News
Chiang Rai Governor Prajon hosts seminar to develop SEZs in northern Thailand
PHOTO: Chiang Rai Times Chiang Rai Governor Prajon Prachsakul presided over the opening of the Special Economic Zone Policy Committee seminar held at the Teak Garden Resort. The seminar was designed to mobilise the development of special economic zones and promote public participation in the northern province project. According to the Chiang Rai Times, Governor Prajon told attendees that the…
