Doing Business in Thailand

A founding member of ASEAN and the ASEAN Free Trade Area (AFTA), Thailand enjoys strong trade agreements with 10 States ― Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. For businesses looking to expand their presence in Asia, these integral relations, as well as its strategic location, make Thailand a logical choice.

Doing Business in Thailand

Economically, Thailand’s 67 million-strong population forms a healthy consumer base. Steady growth, strong exports, an abundance of natural resources and a skilled and cost-effective workforce help attract foreign investors and enable them to prosper and develop industry in Thailand. There is sound infrastructure and a modern business environment, which also increases the country’s appeal to internationally expanding companies.

However, starting a business in an overseas country presents several legal, taxation and regulatory challenges, which is why having local help is essential if the venture is to succeed.

Export and imports in Thailand

The Thai government has established a standard of custom operations and a “related procedures framework”, in line with the World Trade Organization and World Customs Organization’s standards.
A mutual recognition agreement (MRA) was established between Thailand and its regional partner countries to share the benefits of the Authorized Economic Operator standards. These grant a special privileges program to entrepreneurs.
The Thai government has also completed several new initiatives such as the Tariff Valuation and Rules of Origin rules, e-Tariff service and anti IUU Fishing application.
The net effect of all this, is that Thailand is now a simpler country to import to, and export from.

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Sharron, SILU Legal,Practicing Lawyer

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