Asean
Stable politics can boost Thai exports to ASEAN
Thailand has the opportunity to gain a 20 per cent of market shares in the Association of South-East Asian Nations (ASEAN) in the next few years provided that politics is stable and the governmnet has a clear plan to promote exporters, according to a local analysis.
Dr Aat Pisanwanich, director of the University of the Thai Chamber of Commerce (UTCC) Center for International Trade Studies, said such the percentage would help increase the country's exports to the regional bloc to 23-24 per cent, making it possibly replace Singapore now ASEAN's second largest exporter.
Concerning the position in ASEAN markets, Dr Aat said currently Thailand ranks third, counting some 14.6 per cent of total market shares of the regional grouping, preceded by Singapore of 27.1 per cent and Malaysia of 31 per cent.
via Export Outlook: Stable politics can boost Thai exports to ASEAN.
Tourism
Can border reopening revive tourism in South-East Asia?
In Thailand, where pre-pandemic tourism accounted for 11-12% of GDP, the country lost an estimated $50bn last year as Covid-19 restrictions led to an 82% fall in arrival numbers.
After 18 months of travel restrictions, a number of countries in South-east Asia have begun opening their borders to foreign visitors to stoke recovery in their respective tourism industries.
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ASEAN and Russia recently agreed to enhance and widen economic cooperation at the 10th ASEAN Economic Ministers (AEM)-Russia Consultations held in September 2021, including by adopting a revised ASEAN-Russia Trade and Investment Cooperation Work Program for the 2021-25 period.
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