Since 1980 we've worked towards building strong links between the private sectors of Australian and Thai business, as well as developing mutually beneficial relations with our respective governments.
Our members have access to key networks via local and national meetings, seminars, functions, forums and missions. In addition, we keep you informed of important new information on Australian/Thai business developments, government initiatives, industry trends and opportunities. Our website is one of the ways we deliver such information to our membership network.
We'd like to offer businesses interested in pursuing markets in Thailand the opportunity to join our organisation and experience all that the ATBC has to offer.
Why pursue business opportunities in Thailand?
The Thailand-Australia Free Trade Agreement (TAFTA) became operable on the 1st January 2005. Over the intervening two years the bilateral commerce has grown in double digit figures in both directions. For Australian business, Thailand became an attractive business prospect where tariffs on more than 75 percent of Australia’s exports now have a zero rating and the progressive schedule for the reduction of tariffs on the balance has been clearly stated. The Australian services sector has gained expanded access for its businesses and there is enhanced mobility for key staff. Investors are benefiting from improvements in business regulations and / or transparency.
Joint venturing with Thai companies has become a very attractive opportunity because almost all of Thailand’s output now enjoys duty free entry into Australia.
Throughout 2006 the various events in Thailand may have been the cause of concern to the ‘outside observer’. However, as an authoritative annual survey of Australian and New Zealand business attitudes towards Thailand has confirmed, the lengthy period of Interim Government and September’s Coup, by themselves, did not affect business in any serious way. Naturally, after fourteen years of democratic government it was unsettling to have the government toppled, so international business is hopeful of a speedy return to democratic rule in the Kingdom.
The appointed government has asserted many times that it will respect existing trade treaties such as the TAFTA and wishes to encourage foreign investment. In essence, it has continued with the domestic stimulation economic programme of the previous administration. Nevertheless, the authorities dinted the confidence of the foreign business person through December 2006’s Capital Controls announcement and January 2007’s changes to the Foreign Business Act (FBA). The reversal within 48 hours of the former decision validated the view that it was naïve and inept as it was said to have been undertaken in response to significant currency speculation that was never identified. The baht and the stock market soon settled back to early December levels. The FBA announcement appeared hasty rather than decisive because the anticipatable reaction by foreign investors is certain to generate changes. Regardless of the revisions of the future, your professional advisors should be able to achieve the objectives of new or existing investors and safeguard investment.
Thailand’s GDP growth performance, its standard of living, its population of seventy million, and its geographical location make it an ideal regional entry point to ASEAN’s (AFTA) tariff concessions and five hundred million marketplace.
