Thailand's annual science and technology exhibition kicked off in Bangkok on Friday, aiming to promote cooperation in science and technology between Southeast Asia and the global forefront.

Led by the Chinese Academy of Sciences Innovation Cooperation Center (Bangkok), over 30 Chinese enterprises and organizations participated in the exhibition.

The China Pavilion's presentation highlights cutting-edge joint efforts in key sectors like infrastructure, space technology, healthcare, sustainability, and education between the two countries.

At the opening ceremony, Thai Deputy Prime Minister and Foreign Minister Don Pramudwinai underscored the government's acknowledgment of the vital role played by advancements in society, economy, and science and technology, underscoring Thailand's dedication to fostering overall progress through innovation.

A child experiences an AED-CPR machine at the China Pavilion of Thailand National Science and Technology Fair 2023 in Bangkok, Thailand, Aug. 11, 2023. Thailand's annual science and technology exhibition kicked off in Bangkok on Friday, aiming to promote cooperation in science and technology between Southeast Asia and the global forefront. Led by the Chinese Academy of Sciences Innovation Cooperation Center (Bangkok), over 30 Chinese enterprises and organizations participated in the exhibition.

A visitor experiences a VR interactive system at the China Pavilion of Thailand National Science and Technology Fair 2023 in Bangkok, Thailand, Aug. 11, 2023. Thailand's annual science and technology exhibition kicked off in Bangkok on Friday, aiming to promote cooperation in science and technology between Southeast Asia and the global forefront. Led by the Chinese Academy of Sciences Innovation Cooperation Center (Bangkok), over 30 Chinese enterprises and organizations participated in the exhibition.

A child experiences an AED-CPR machine at the China Pavilion of Thailand National Science and Technology Fair 2023 in Bangkok, Thailand, Aug. 11, 2023. Thailand's annual science and technology exhibition kicked off in Bangkok on Friday, aiming to promote cooperation in science and technology between Southeast Asia and the global forefront. Led by the Chinese Academy of Sciences Innovation Cooperation Center (Bangkok), over 30 Chinese enterprises and organizations participated in the exhibition.

Source : Xinhua

Thailand is easing its visa application process by reducing approval time and required documents in a bid to attract more foreign tourists, a government official said Thursday.

The Ministry of Foreign Affairs has streamlined the application for a tourist visa, decreasing the number of supporting documents and processing time to seven working days from 14, said deputy government spokesperson Ratchada Thanadirek.

Inbound foreign tourists to the Southeast Asian country increased as expected, even during the off-season, as the Thai government attaches importance to the facilitation of tourists and promotional activities, Ratchada said in a statement.

Last week, 95,581 tourists arrived from China, followed by those from Malaysia, South Korea, India and Vietnam, the statement said.

Thailand welcomed 15.89 million tourist arrivals from January to early August, earning over 663 billion baht (about 18.92 billion U.S. dollars) in revenue from foreign visitors, according to the Ministry of Tourism and Sports.

The kingdom is on course to meet the whole-year foreign tourist target of 25 million, according to the ministry, compared with 11.15 million in 2022.

In pre-pandemic 2019, Chinese tourists accounted for about 28 percent of the nearly 40 million foreign tourists to Thailand. Tourism, the key driver of Thailand's economic growth, accounts for about 12 percent of the country's GDP.

Source : Xinhua

Free trade agreements (FTAs) were a primary factor in Thailand achieving exports of US$33.45 billion during the first five months of this year, a senior official at the Commerce Ministry said.

Ronnarong Phoolpipat, director general of the ministry’s Foreign Trade Department, said the FTA utilisation rate – the percentage of exports that enter a country with tax exemptions due to FTAs – was 76.7% during the five months.

Ronnarong said export of Thai fruit – including durians, guava, mangos, and mangosteens – will increase in China during that country’s summer. The export value of Thai fruit to China exceeded $3.3 billion in the first five months of this year, with the Asean-China FTA paving the way. Exports of coconuts to China have also increased considerably. In the second quarter of this year, their export value reached $187.91 million under the ACFTA, up 26.96% compared to the same period last year.

China remains the top importer of Thai coconuts, accounting for 54.83% of the total. Thai coconuts account for 80.02% of all coconuts imported by China. Under the Asean-China FTA, Thailand has a zero import tax rate in China, compared to 60% when Thailand’s trade status was “most favoured nation”.

Thailand’s top five FTAs in the first five months of this year, and their utilisation rates are:

1.Asean FTA ( $12.16 billion) with a utilisation rate of 74.48%. The top four Asean export markets are Indonesia($3.26 billion), Malaysia ($2.91 billion), Vietnam ($2.70 billion), and the Philippines ($2.03 billion).

2.Asean-China FTA ($10.41 billion) with a utilisation rate of 97.99%. Major exports were durian, synthetic rubber mixed with natural rubber, cassava, fresh fruits (guava, mango, mangosteen) and chemically pure sugars.

3.Japan-Thailand Economic Partnership Agreement ($2.74 billion) with a utilisation rate of 71.57%. Major exports were processed chicken and chicken parts, marinated chicken, deck trims, and plastic mouldings.

4.Thailand-Australia FTA ($2.30 billion) with a utilisation rate of 63.24%. Major exports were cars and other vehicles, canned tuna, and polyethylene.

5.Asean-India FTA ($2.16 billion) with a utilisation rate of 65.56%. Major exports were red brass wire, organo-inorganic compounds, radio broadcast receivers, air conditioning components, and polyvinyl chloride.

Exports to 100 countries under the Regional Comprehensive Economic Partnership (RCEP) – Japan, China, South Korea, Australia, New Zealand, Singapore, Malaysia, Vietnam, Indonesia, and Myanmar – totaled $570.34 in the five month period, with a utilisation rate of 81.50% , Ronnarong said.

Key exports p under the RCEP included lubricating oil, energy drinks, canned tuna, vermicelli made from mung beans and motorcycles.

The use of trade benefits under FTAs is crucial to reducing trade-related obstacles, particularly taxes, Ronnarong said. FTAs also enhance competitiveness in the global market and require exported goods to meet high quality standards, and comply with rules of origin regulations to obtain tax privileges, he added.

Source : THE NATION THAILAND

Thailand will host the fifth round of negotiations for the Indo-Pacific Economic Framework (IPEF) in September. The IPEF aims to enhance economic engagement among partner nations and promote growth in the region.

The meeting in Bangkok will focus on trade, supply chains, a clean economy, and a fair economy. Thailand will highlight the importance of cooperation in capacity building and technical cooperation, particularly in clean energy.

The country is committed to adhering to international standards on anti-corruption and taxation. The negotiations will play a crucial role in furthering economic collaboration in the Indo-Pacific.

On May 23, 2022, India, along with 12 other countries, joined the US-led Indo-Pacific Economic Framework (IPEF), which seeks an open, inclusive, interconnected, and secure Indo-Pacific for sustainable growth of the region. India sees this framework as crucial for continued growth, peace, and prosperity in the Indo-Pacific region and intends to deepen economic engagement among partners in a free, open, and inclusive manner.

The new framework, which is perceived as an economic correlative of the US Indo-Pacific strategy, is not a Free Trade Agreement (FTA), as clarified by the US.

Instead, it’s a loose framework that brings together 13 countries to shape rules on key focus areas like the digital economy, trusted supply chains, clean economic growth, corporate accountability, and anti-corruption.

The IPEF’s framework can therefore be objectively seen as a move by the US to strengthen its foothold in the region and to check China’s vast influence. The lack of details, however, has given cause to much speculation about the IPEF being merely geopolitical theatre.

Most countries in the IPEF are members of the Asia-Pacific trade treaty – the Regional Comprehensive Economic Partnership (RCEP) – through which they are set to become even more economically integrated with China. They are also part of China’s Belt and Road Initiative (BRI), which seeks to make trade facilitative infrastructure and regional connectivity investments.

Source : Thailand Business News

As tourist demand continues to surge, airlines in Southeast Asia are gearing up for an extensive expansion of flights. The Civil Aviation Authority of Thailand (CAAT) predicts a full recovery of the airline industry in the fourth quarter of next year, with pre-Covid levels expected to return by 2025.

The Tourism Authority of Thailand (TAT) aims to capitalize on the rising trend, targeting the "CIA" market, which includes China, India, and ASEAN countries. Their ambitious goal is to attract 25 million tourists this year and 35 million next year.

To cater to this growing demand, Thai Lion Air is set to resume six daily flights from Bangkok to various Chinese cities, including Guangzhou, Chengdu, and Shanghai. Additionally, they will restart flights to Tokyo from Bangkok through Taipei. These moves are scheduled to commence in mid-August.

EVA Airways is also joining in on the action, intending to promote Thailand as a top tourist destination through its extensive flight network covering Asia, North America, Europe, and Australia. The airline offers a significant number of direct flights to Bangkok, Taipei, China, Japan, and Seoul.

In response to the preferences of Indian travelers for flying with Indian airlines, the TAT is closely monitoring the Indian market. They observed a decline in the number of business travelers in the region. However, a new Indian airline called Akasa Air is expected to begin operations by the end of the year.

Meanwhile, Nok Air is preparing to resume flights to Singapore, and Air Asia is planning flights from Bangkok to Cebu, Philippines, to cater to Filipino travelers. MYAirline from Malaysia is also considering offering international flights to Bangkok’s airports, as well as services to other popular Thai destinations like Phuket, Chiang Mai, Krabi, and Samui.

Source : NATIONAL NEWS BUREAU OF THAILAND

The Stock Exchange of Thailand (SET) has announced a collaboration with various entities in the capital market sector, business organizations, and government agencies to fight against investment fraud.

The collaboration aims to exchange information, detect fake news, and raise public awareness about investment scams.

The initiative includes seminars with guest speakers, as well as the integration of operating systems among the capital market sector and government agencies to stop fraudulent investment cases more efficiently.

The Securities and Exchange Commission (SEC), the Thai Bankers’ Association (TBA), and other organizations are part of this collaboration. The public is encouraged to check and share any unrealistic investment invitations and to verify the legitimacy of organizations and individuals before investing.

Source : Thailand Business News

The Cambodian Ministry of Public Works and Transport is taking steps to improve the transportation of Cambodian agricultural products to Chinese markets by exploring a new trade route through Laos.

Kong Vimean, a spokesperson for the Ministry, says Chinese investors and advisors had expressed concerns about the rising expenses and complications in using neighboring countries as a transit route to China.

In response to this, the ministry is coordinating plans to facilitate Chinese investors in transporting Cambodian agricultural goods via to China via Laos, employing the country’s new high-speed train service.

The proposed route will begin in Phnom Penh and traverse Kampong Cham, Tbong Khmum, Kratie, and Stung Treng provinces before entering Laos and moving onward to China.

Vimean emphasized that Cambodia, Laos, and China have already established cross-border transport procedures and agreements, ensuring a smooth flow of goods.

By opting for the Laos route, the Chinese companies expect to lower costs and experience simplified procedures, unlike the hurdles faced when using the Thai and Vietnamese routes. Though the distance covered through Laos is slightly longer, the advantages of reduced expenses and streamlined formalities are more attractive to these companies.

The Cambodian Ministry of Public Works and Transport is enthusiastic about boosting Cambodia’s agricultural sector on the global platform and is open to facilitating similar arrangements for other Chinese companies. With this move, exports of various agricultural products such as mangos, durian, cashew nuts, pineapples, and milled rice to China are expected to increase significantly.

Sin Chanthy, President of the Cambodia Logistics Association, praised the new trade route, stating that it would greatly benefit the association.

“The transport of agricultural products via Stung Treng will be more profitable than the use of the ports of Sihanoukville and Phnom Penh, which are far away. Thanks to the transport ministry’s coordination of the new infrastructure, it will also be simpler,” he said.

The Chinese companies plan to establish a dry port in Stung Treng town, leading to increased profitability for transporting agricultural products from the province. Chanthy also highlighted that the coordinated infrastructure efforts by the transport ministry would make the process much simpler compared to utilizing distant ports like Sihanoukville and Phnom Penh.

By: Latsamy Phonevilay 

Source: The Laotian Times

JAKARTA, 25 July 2023 –  In an effort to promote circular economy transition in the region, over 50 government and business representatives from ASEAN Member States (AMS) came together for the Regional Policy Dialogue on ASEAN MSMEs Participation in Circular Economy on 25-26 July in Jakarta.

Hosted by Indonesia’s Ministry of Cooperatives and SMEs, the dialogue served as a platform for industry and policy experts to shed light on recent policy trends in ASEAN and AMS and  provide insights on successful and innovative circular business models.

The dialogue culminated with a decision to produce policy recommendations on ASEAN MSMEs’ participation in the circular economy. The recommendations are aimed to promote regional cooperation in the MSME sector to identify challenges, opportunities, and share good practices in promoting MSME participation in the circular economy.

In his opening speech, Deputy Minister for SMEs for Indonesia’s Ministry of Cooperatives and SMEs Hanung Harimba Rachman said, “As the chair of ASEAN in 2023, Indonesia has adopted the theme: “ASEAN Matters: Epicentrum of Growth” which focuses on growth and prosperity. We aim to strengthen ASEAN to become a fast-growing, inclusive and sustainable economic region.”

In his remarks, Deputy Secretary-General of ASEAN for ASEAN Economic Community Satvinder Singh highlighted the challenges stemming from the overuse of finite natural resources and urged ASEAN to come together and explore alternative resources. “Embracing the circular economy is imperative for ASEAN, not only to safeguard our livelihoods from future challenges such as climate change and food security but also for ASEAN as a region to remain relevant and competitive in international trade,” he said.

Echoing this sentiment  Shameer Khanal,  Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH Lead Advisor/Cluster Coordinator ASEAN, underlined the importance of capacity building and public support schemes for MSMEs to prepare for new business opportunities and access to foreign markets.

“In this context, GIZ, with the support of the German Government, focuses on collaborating thematically with ASEAN on cross-border trade while remaining open to cooperation and policy dialogues on all emerging topics.” He also encouraged MSMEs to utilise the ASEAN Access, a portal designed to facilitate the internationalisation of MSMEs in all sectors, including those with circular business models, through business matching, market talks, and capacity building activities.

The policy dialogue is an initiative under ASEAN Access on the occasion of Indonesia’s ASEAN Chairmanship 2023. The event was organised in consultation with the ASEAN Coordinating Committee on MSMEs and the Task Force on ASEAN Access with support from GIZ as funded by the Federal Ministry of Economic Cooperation and Development through the GIZ SME Promotion in ASEAN II project.

Original News: here