An Analysis of the Current Business Environment in Thailand

3062 Words Jan 15th, 2018 12 Pages
The strong ties that exist between Australia and Thailand have been further strengthened in recent years through a series of free trade initiatives, reduced or eliminated tariffs and, prior to 2003, through the provision of Australian economic development advisors to Thailand. Despite the positive trends in commerce, Thailand has been rocked by political turmoil from time to time over the years, and student uprisings in Bangkok in particular have threatened the political stability of the country's ruling parties in ways that had short-term implications for Australians doing business in Thailand. Moreover, because it has become increasingly integrated into the global economy, Thailand has not been immune from the Great Recession of 2008. Nevertheless, the business climate in Thailand remains highly favorable in general and especially favorable for Australian companies of all types and sizes as described further below.
Profile of Thailand As the only country in Southeast Asia to avoid being colonized by Western powers, the Thai people do not have any particular chip on their national shoulders concerning doing business with foreigners, especially Australians. In fact, Australia and Thailand have long enjoyed excellent diplomatic and trade…