There are around 6,000 Japanese companies that invest in Thailand, while the total value of Thai goods exported to Japan last year was recorded at 25 billion U.S. dollars, with at least 10% growth expected this year.
The negotiations towards a Free Trade Agreement with Thailand were originally launched in October 2005. Two rounds of negotiations have been held between 2005 and 2006. The negotiations were on hold from 2006 to 2022.
The Thai government hopes that RCEP will contribute to the country’s economic recovery amid the pressures of COVID-19 and high inflation while helping the country become a more sophisticated trading partner in the longer term
The Indo-Pacific Economic Framework for Prosperity and What it Means for Vietnam
The IPEF is offered as a counterweight to China but is positioned in a way where the member countries do not have to choose between the US and China, allowing a high level of membership
US drops tariffs on solar panels from Thailand for 2 years
Biden’s action comes in response to a DOC probe into whether Southeast Asian solar cell manufacturers are using parts made in China that would normally be subject to a tariff.
Thai Exports miss forecast over Ukraine war, China lockdown
Exports – a key driver of Thai growth – increased 9.9% in April from a year earlier, missing a forecast 14.6% rise in a Reuters poll, and against March’s 19.5% jump.
Thailand joins Indo-Pacific framework with 12 other countries
The 13 initial members of the Indo-Pacific Economic Framework (IPEF), are the U.S., Japan, India, South Korea, Australia, Indonesia, Thailand, Singapore, Malaysia, the Philippines, Vietnam, New Zealand and Brunei
At the moment, Hong Kong does not have bilateral trade agreements with Japan or South Korea. By joining RCEP, Hong Kong may be able to capitalise on significant new trade and investment opportunities with both these countries.
