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Commerce Ministry urges exporters to use Australia, NZ, ASEAN trade pact

Thailand’s Commerce Ministry has urged exporters to better understand more on benefits offered under the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) agreement which will take effect March 12, a senior ministry official said.

Aishwarya Gupta

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export asia

Thailand’s Commerce Ministry has urged exporters to better understand more on benefits offered under the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) agreement which will take effect March 12, a senior ministry official said.

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Commerce Ministry urges exporters to use Australia, NZ, ASEAN trade pact


Commerce Ministry urges exporters to use Australia, NZ, ASEAN trade pact

The government also uses tariff measures as a tool to promote energy policy. To encourage the use of natural gas as an alternative fuel for vehicles, the government has exempted import duties of many natural gas-related tools and equipment such as bio-fuel conversion kits, natural gas containers, and chasses.
Externally, the trade balance in January 2009 recorded a 1,688 million US dollar surplus. Export value contracted for the third consecutive month while import fell even more rapidly. Export value dropped 25.3 percent (yoy) to 10,382 million US dollars. This was due mainly to contraction across the board except for labour-intensive industries which still expanded from gold export. Import value contracted 36.5 percent (yoy) across the board to 8,694 million US dollars. When accounting for the net services, income, and transfers surplus of 601 million US dollars from lower investment income transfer compared to the previous month, the current account balance registered a 2,289 million US dollar surplus.

For the year 2008, the Thai economy decelerated from the previous year, particularly in the last quarter where global economic downturn and internal political unrest adversely affected manufacturing production and tourism. Nonetheless, farm income in Thailand still expanded well from higher major crop production and price compared to the previous year. On the demand side, private consumption and investment declined notably in the last quarter, despite falling inflation during the second half of the year in line with lower oil prices. Both export and import expanded satisfactorily during the first three quarters. However, during the last quarter, export contracted following trading partners’ economic slowdown while import decelerated markedly in line with export and domestic demand conditions.

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By Karen Lee

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Following the February 1 coup, Myanmar’s netizens became the latest to join the #MilkTeaAlliance, an online collective of pro-democracy youth across Asia.

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Vietnam

Vietnam: Manufacturing to remain the key driver of growth

We expect robust exports, led by strong global demand for electronics, to continue to underpin solid economic growth over the remainder of this year with GDP forecast to rise close to 8%.

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Vietnam’s Binh Dinh Industrial Zone: Opportunities for Foreign Investors

GDP growth was unchanged at 4.5% y/y in Q1. Manufacturing activity surged, while the recovery in service sector activity and construction continued albeit at a more subdued pace as some localised social distancing measures were reinstated.

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Vietnam

Vietnam Lao Cai popularises Sa Pa-Fansipan tourism trademark

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 Lao Cai (VNA) –The northern mountainous province of Lao Cai has built a strategy to popularise the Sa Pa- Fansipan tourism trademark till 2025 with a vision to 2030.

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