News – Thailand Business Directory

Working around the Article XXI loophole

China continues to impose illegal duties on US imports despite a ruling by the World Trade Organization (WTO) that they were wrongfully imposed. The US argues that a country's use of the security exception in trade disputes cannot be challenged in the WTO, while others, including China, argue that the WTO has the right to investigate. The US and Russia have both invoked the security exception in the past, prompting concerns about the impact on global trade. The US has blocked appointments to the Appellate Body, preventing it from hearing cases for almost five years. Clarifying rules and implementing mechanisms to allow for counterbalancing measures could be potential solutions, or economic allies could meet outside of the WTO to agree on trade rules.

China Exploiting WTO Ruling on US Imports

Despite a ruling by the World Trade Organization (WTO) that China wrongfully imposed duties on US imports, China continues to enforce these illegal duties as it awaits an appea…

The ASEAN Region: An Underestimated Economic Power

ASEAN has emerged as a rapidly evolving economic hub with strong GDP growth projected at 4.6%. Its diversity and young population contribute to its strength, and the region prioritizes innovation and inclusivity to fulfill its potential as a global economic center.

ASEAN's Economic Growth Potential

When looking at drivers of economic growth, ASEAN is a region sometimes overlooked for its potential and overshadowed by economic powerhouses such as China and the United States. Yet in recent years, ASEAN has emerged as a dynamic and rapidly evolving economic hub, displaying resilience in the face of unprecedented challenges, including the COVID-19 pandemic.

Rapid GDP Growth in ASEAN

According to the Asian Development Bank, South-East Asia's GDP growth for July 2023 was projected at a robust 4.6%, compared to the slower rates of 1.1% for the United States, 0.5% for the Euro area, and 0.6% for Japan. The region's strength resides in its diversity of languages, cu…

The 2023 Mid-Year Investment Report: A Guide to Investing in Indonesia

Indonesia's investment report highlights sectors ripe for foreign investment, such as local smelters for nickel reserves and becoming a global producer for electric vehicle batteries. In H1 2023, foreign investment reached $23 billion and domestic investments reached $20.4 billion. In 2022, foreign investment totaled $43 billion, with notable sectors including processed nickel exports and electric vehicle batteries. Indonesia aims to become one of the top three global producers for EV batteries by 2027. Indonesia's Investment Report Highlights Sectors Ripe for Foreign Investment Indonesia's investment report for the first half of 2023 emphasizes sectors that offer promising opportunities for foreign investment. One notable sector is the development of local smelters for nickel reserves. With approximately 22 million tons of nickel reserves, Indonesia's government is leveraging these resources to attract investments in smelter development. In 2022, the export value of processe…

FTA Negotiations Between Thailand and UAE Close to Wrapping Up

Thailand and the United Arab Emirates are close to finalizing their free trade agreement, with 80% of the discussions already completed. It is expected to be completed by the end of the year and could boost Thailand’s GDP and exports.

BANGKOK (NNT) – The Commerce Ministry has reported that Thailand and the United Arab Emirates (UAE) are nearing the conclusion of their free trade agreement (FTA) negotiations, with approximately 80% of the discussions already completed. It is anticipated that both countries will finalize the FTA by the end of this year.

During the fourth round of Thai-UAE FTA negotiations in Bangkok on September 26-28, 2023, Commerce Minister Phumtham Wechayachai stated that he discussed various issues with UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi. As a result, both sides have reached agreements in various areas such as food, agricultural products, air conditioners, and car components. He added that the talks are …

Belt and Road goals undergo transformation as China’s ambitions evolve, a decade later.

A decade ago, amid much fanfare, Chinese President Xi Jinping launched the Belt and Road program, a grand plan to build a global infrastructure and supply chains that would connect China to the rest of the world in a modern and many-pronged Silk Road – and hypothetically benefit everyone involved.

Next month, Beijing will host the third Belt and Road Forum for International Cooperation, with confirmed attendance from a number of world leaders and representatives from 90 countries, state news agency Xinhua reported.

What started out as a way to boost trade ties, secure energy supplies and invest in global infrastructure has now branched out to include digital, health, cultural, security, and sustainable development projects, some of which have been dogged by labor issues and cost overruns.

Playing off the motif of the ancient trade route that linked China to the Mideast and Europe, Its components are many, and include the Digital Silk Road, the Silk Road on…

Thai Prime Minister presides over exclusive airport reception for Chinese and Kazakh travelers

Bangkok, 25 September 2023 – Prime Minister H.E. Mr. Srettha Thavisin presided over the welcoming ceremony at Suvarnabhumi Airport, one of four key airports holding momentous celebrations to welcome the first groups of tourist arrivals from the People’s Republic of China and Republic of Kazakhstan under the temporary tourist visa exemption scheme, which is effective from today until 29 February 2024.

Present along with the Prime Minister were H.E. Mr. Han Zhiqiang, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Kingdom of Thailand, H.E. Ms. Sudawan Wangsuphakijkosol, Minister of Tourism and Sports, Ms. Thapanee Kiatphaibool, Governor of the Tourism Authority of Thailand (TAT), as well as other senior officials and key figures from the public and private sectors.

Chinese and Kazakhstani travellers arriving in Thailand throughout the five-month period will be granted a temporary visa exemption for a 30-day stay for the…

Climate change is indifferent to battery manufacturers

Author: Editorial Board, ANU

Like it or not, the structure of global trade in green technologies and the raw materials required for their manufacture is being decided in an era when geopolitics trump markets, and the WTO’s credibility to check the abuse of national security exceptions is near rock bottom.

The upshot, as Mari Pangestu explains in this week’s lead article, excerpted from the upcoming edition of the East Asia Forum Quarterly, is that the green transition is greasing the political skids for a resurrection of inward-looking industrial policy.

‘Achieving net zero carbon emissions will require an estimated seven-fold increase in demand for transition-critical minerals between 2021 and 2040’, Pangestu highlights. Yet because of China’s dominance in the processing of these minerals, and in the production of the batteries that need them, ‘developed countries have introduced industrial policies such as reshoring the sourcing of transition-critical mi…

ADB Forecasts 4.6% Growth in Southeast Asia, Cautions of Growing Risks

According to a report by the Asian Development Bank (ADB), economic growth in Asia and the Pacific is expected to remain solid, although risks to the outlook are increasing.

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India Resists Chinese Economic Power

AbstractThe intensifying competition between India and China for influence in South Asia highlights the increasing importance of foreign investment in shaping the region. India, in order to establish itself as a key player in South Asia, will need to leverage foreign aid and investments. China’s Belt and Road Initiative (BRI) has filled the investment gap in South Asia, funding various infrastructure projects in countries such as Sri Lanka, Pakistan, and Afghanistan. India, recognizing the need to counter BRI projects, aims to accelerate its own infrastructure projects. The growing synergy between India and the US can contribute to regional development and stability, especially in light of China’s assertiveness.

Author: Radhey Tambi, Centre for Air Power Studies

As the competition between India and China for influence in South Asia intensifies, foreign investment becomes more important in shaping regional outcomes. This discussion is particularly relevant as China’s Be…