Thailand Opens Digital Free Trade Hub in partnership with Alibaba
The launch of the digital free trade hub is part of Thailand’s efforts to position itself as one of Southeast Asia’s key logistics centers for trade and e-commerce.
APEC’s 21 members aim to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative and secure growth and by accelerating regional economic integration.
Thailand is working with the 21 APEC economies to advance the Asia-Pacific free trade area (FTAAP) initiative. Work goals under the initiative are now being rapidly designated so they may be endorsed by APEC ministers and leaders.
This article answers key questions around the US-led Indo-Pacific Economic Framework (IPEF), implications for member countries, and whether it will be able to counter China’s economic dominance in the Indo-Pacific region.
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.
