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Vol. 4: No. 12, December 2009 ASEAN power promoted (Bangkok Post, 28.11.2009) |
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Trading partners should consider Thailand as part of the ASEAN community, not an individual country, when they want to invest and increase trade, says Kiat Sittheeamorn, president of the Thailand Trade Representative Office (TTR). He made the comment yesterday at a briefing held by the British Chamber of Commerce on improving trade and investment between Thailand and the United Kingdom. "By 2015, when you think about Thailand, you should think about the 600 million people of ASEAN," he said. "Asian market liberalisation could offer a new business model to eventually tackle a single market." Mr Kiat suggested a model that includes teaming up with resourceful businesses to invest in a third country. "We're close to 10 major deals now, where Middle Eastern and Thai companies will join together to make huge investments in Vietnam," he said. Mr Kiat wants to see the same sort of arrangement with UK companies. In 2008, trade between Thailand and the UK totalled US$5.7 billion, with growth of 12.4% from the year before. UK investors in the same year proposed 31 projects totalling 9 billion baht to the Board of Investment (BoI). Mr Kiat said another new BoI package would be introduced early next year designed to provide maximum privileges and incentives to experts in research and development. The programme would be proposed to the cabinet for consideration. As well, he said, Prime Minister Abhisit Vejjajiva had asked the Commerce Ministry to see whether there were certain sectors on which restrictions under the Foreign Business Act could be removed. According to the World Trade Organisation, Thailand ranked second in ASEAN, third in Asia and 12th in the world in providing convenient regulations for doing business in the kingdom. Mr Kiat said he would also like to see UK companies become more active in renewable energy as the world is concerned about the availability of energy and food as well as prices.
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