Thailand’s strategic location in the center of ASEAN means it has access to the bloc’s 600 million consumers within a 3,000km radius, bringing vast opportunities for cross-border trade and investments.
For the past five years, goods transportation by rail to Russia has been used intensively to meet the increased orders of Vietnamese exporters and importers, especially in the field of infant foods, beverages, footwear, and clothing.
Indonesia, Southeast Asia’s largest economy, ratified its membership in the Regional Comprehensive Economic Partnership (RCEP) on August 30, 2022, and becomes the latest country in ASEAN to ratify this trade agreement.
Establishing a branch office in Thailand can be more complex, costly, and timely when compared to incorporating a private limited company. However, the advantage of a branch office is that it can be 100 percent foreign-owned.