Australia's trade and economic relationship with Thailand has grown strongly since the entry into force of the Thailand-Australia Free Trade Agreement (TAFTA). Australia continues to work with Thailand on the implementation of TAFTA.
On 22 May 2014, Thailand Army chief General Prayuth Chan-ocha assumed control of the country in a military intervention following months of political deadlock between opposing sides. This has caused levels of uncertainty towards political and economic outlook amongst local businesses and foreign investors alike. After months of stabilisation, the business situation in the Kingdom has shown signs of recovery.
The new administration has demonstrated a commitment to:
- free market principles
- more integration with the Greater Mekong Subregion, ASEAN and Northeast Asia
- establishment of a value-added innovation-driven economy
- upgrading and expanding connectivity and infrastructure
- launch of digital technology platforms.
More information on doing business in Thailand
Why ASEAN and why now?
Why ASEAN and why now? Insights for Australian Business. A joint Austrade-DFAT publication examining Australia’s trade relationship with the Association of Southeast Asian Nations (ASEAN), the opportunities and challenges for Australian business engaging with the region and the future of the Australia-ASEAN trade relationship.
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