Thailand Business Guide - UK Trade & Investment

INTRODUCTION
WHY THAILAND?
Thailand offers exciting business opportunities to companies prepared to take a serious
interest in this dynamic market.
Over a number of years, Thailand, which has a population of 67 million, has managed to
transform its economy from one that was primarily agriculture-based, to one of the most
diverse in the region. As well as agriculture, major industries include food processing,
cement, integrated circuits, automotive parts and assembly, petroleum products, textiles,
footwear, toys, furniture, synthetic fibre and tourism. The country has a well-developed
infrastructure, a free-enterprise economy and generally pro-investment policies.
Strategically located at the heart of Asia
– one of the world’s largest growing
economic regions – Thailand is also
well placed to offer a gateway to both
the ASEAN (Association of Southeast
Asian Nations) and Asia-Pacific markets,
particularly India and China, many of
which offer great business potential.
The ASEAN region alone has a cumulative
population of more than 500 million and
GDP in excess of US$700 billion.
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Within ASEAN, Thailand’s economy is in
the top three in terms of size and volume
of international trade. It is therefore well
positioned as the region moves towards
economic integration and a single freetrade
area in 2015. Zero tariffs between
the top five members (including Thailand)
were implemented in January 2010.