Over the years the Thai government has been an enthusiastic supporter of ASEAN and the AEC. Successive governments have seen regional and global trade as being an important element in the Kingdom’s economic health. Throughout history Thailand has relied on trade and now more than ever, it wants to position itself as a regional hub for trade in Asia.
So we thought it was a good time to explore Thailand’s trade connections.
But more than just relying on location to help it, Thailand has made several moves over the years to make it a more attractive trading partner. It was recently ranked by the World Bank as being the second easiest country to do business in in East Asia and it has been aggressively negotiating free trade deals. Currently it has signed 27 FTAs with countries although not all have phased in. This includes regional heavy hitters like China, Japan and South Korea, along with global players such as Canada and the EU.
All in all the country is definitely making the right moves to cement itself as a hub for trade in Asia and grow it’s reputation as a country which is open for business.