Course summary (Doing business in
Thailand)
Business in Bangkok. The Kingdom of Thailand. Automotive and Electronics Industry. Thailand's Advantages. Infrastructures
Thailand enjoys a strategic location and serves as a gateway into the heart of Asia – home to what is today the largest growing economic market.
The country also offers convenient trade with China,
India and the countries of the ASEAN Association of Southeast Asian Nations (Indonesia, Malaysia, Philippines, Singapore,
Brunei Darussalam, Vietnam,
Laos,
Myanmar and Cambodia), and easy access into the
Greater Mekong sub-region, where newly emerging markets offer great business
potential.
Thailand was one of the founding members of ASEAN and has been instrumental in
the formation and development of the ASEAN Free Trade Area (AFTA).
Thailand is one of the founding members of APEC © since 1989.
Thailand’s open-economy policy has been responsible for a strong growth in
exports in recent years. From 2004-2006, this growth averaged 17.4% annually, while in 2007 are expected to increase a further 12.5 %. The country’s main
export markets are the USA,
Japan, the European Union and Association of Southeast Asian Nations ASEAN, while
new markets include China,
South Asia,
Africa and Indochina.
Diversity has become an essential ingredient of Thai exports,
with an emphasis on one-stop sourcing of raw materials in Thailand’s regions, in
the Greater Maekong Sub-region and throught Southeast Asia. These are turned
into a variety of value-added products that include processed & frozen food,
agricultural products, electronics, electrical appliances, furniture, fashion
Garments & textiles, auto parts and accessories, etc.
Thai service industries are also in great demand around the world. Four key
businesses are well established-Thai restaurants, Thai spas, health industry, and international education,- while new service industries, such as
architectural design, construction, garage, printing, entertainment and other
content industries are being developed to meet overseas demand.
Bangkok, the Thai capital, has become the center of development and consequently
the most prosperous part of the country. Economic activities in Bangkok and the
metropolitan area account for almost 60 percent of the national gross domestic
product, though it has under 20 percent of the nation’s population. Bangkok’s
basic infrastructure is impressive compared with neighboring countries. The city
is competing closely with Singapore to become a regional hub for air travel
within Southeast Asia. Bangkok is recognized globally as a first class health
care center with facilities that meet international standards.
Thailand has forged close economic cooperation with other ASEAN member nations, and Thai manufactured products and services have access to their markets, which
includes all 10 ASEAN countries. ASEAN is home to more than half a billion
people, GDP in excess of US$1.5 trillion and total trade of well more than US$1
trillion per year. Thailand has free trade agreements (FTAs) with Australia,
China, India, New Zealand and the 10 member countries of ASEAN.
The electronics industry is one of Thailand’s largest in the manufacturing
sector. This industry alone was worth nearly US$ 30 billion and accounted for
more than 30% of Thailand's export revenues in 2007. Thailand’s main
electronics exports are hard disk drives (HDD) and integrated circuits (IC),
which account for about 54% and 29% of total electronic exports, respectively.
Thailand has become the largest production base for the electrical appliance
industry in ASEAN with many international manufacturers engaged in expansion
programs. The country is also the second largest hard-disk drive exporter in the
world after Singapore.
All of the world’s major automakers, assemblers, and parts and
components manufacturers have been attracted to the industry in Thailand, and
many are planning further investment. Ford, General Motors, BMW,
DaimlerChrysler, Mitsubishi, Mazda, Toyota, Isuzu, Honda and Nissan all have an
established presence in the country, together accounting for the lion’s share of
the nearly 1.4 million vehicles produced here in 2008. Thailand is currently the
world’s largest producer of one-ton pickup trucks and the seventh-largest
automotive exporter overall
Charoen Pokphand Group (CP Group) with headquarters in Bangkok, Thailand was
founded in 1921 by the Chia brothers, and is today one of Asia’s leading
conglomerates. With businesses and affiliates operating within the agribusiness, retail and telecommunications markets, they currently employ over 250,000 people
whom conduct their investments, operations and trading at factories and offices
worldwide.
Stars Microelectronics (Thailand) Public Company Limited offers
Microelectronics Module Assembly (MMA) and IC Packaging. Stars is Thailand’s
leading full-service manufacturer and its services range from product
development or R & D to mass production in large quantities.
International Economic Relations. Thailand is member of: Association of Southeast Asian Nations (ASEAN) -
ASEAN Economic Community, Asia-Pacific Economic Cooperation (APEC), IMT – GT, Mekong Economic Cooperation
Strategy (ACMECS), Bay of Bengal Initiative (BIMSTEC),
Mekong River Commission (MRC) , Ocean Rim Association for Regional Cooperation (IORARC), Boao Forum For Asia (BFA), Asia - Middle East Dialogue
(AMED), Forum for East Asia-Latin America Cooperation (FEALAC), Asia-Europe Economic Meeting
(ASEM), Asia Cooperation Dialogue (ACD), Pacific Economic Cooperation Council (PECC),
Asian Development Bank (ADB), Economic and Social Commission for Asia and the
Pacific (ESCAP), Colombo Plan
Thailand Free Trade Agreements (FTAs): ASEAN Free Trade Area (AFTA).
ASEAN Agreements:
Australia New Zealand,
Canada, China,
India, European Union,
Japan, Korea,
Russia, US,
Pakistan
Free trade agreement with: India (CECA),
GCC. New Zealand - Thailand Closer Economic Partnership
The population of Thailand was estimated at 67.2 million. The official national
language is Thai. EENI in Thai language:
มหาบัณฑิต ในการค้าต่างประเทศและตลาดต่างประเทศ.
Doing, Business, Thailand, Thai, economy, Foreign Trade, Import, Export, Bangkok, Kingdom of Thailand, Automotive, Electronics, Industry, Thailand's, advantages, Infrastructures