Latest news with #Nalinee
Bangkok Post
7 days ago
- Business
- Bangkok Post
Trade rep chief touts future-ready sectors
Amid rising geopolitical tensions and economic fragmentation, Thailand must adapt with agility, deepen international cooperation and invest in future-ready sectors and people. More recently, Thailand and other countries have experienced trade wars, geopolitical fragmentation, supply chain decoupling and a worsening climate crisis, all of which have shaped and impacted markets. "Today, there is a loss of predictability, trust, and economic clarity. Uncertainty has become the new normal," said Nalinee Taveesin, president of Thailand Trade Representatives. Adapting trade policies Mrs Nalinee said Indo-Pacific has become the epicentre of the intensified US-China rivalry, reflecting the region's central role in global supply chains and economic interdependence. To remain competitive in this environment, Thailand is adjusting its trade strategy to both shield itself from external disruptions and seize new market opportunities. She said Thailand remains firmly committed to the multilateral trading system. But officials are also actively pursuing free trade agreements with the European Union (EU), the United Kingdom and South Korea, while deepening regional integration through Asean, the Regional Comprehensive Economic Partnership and bilateral deals with countries like Bhutan and Sri Lanka. "Advancing trade connectivity in all dimensions, promoting high-quality investment and diversifying markets are crucial to insulating the Thai economy from effects of tariff wars between major powers," said Mrs Nalinee. She added that Thailand is also making a bold bid to join the Organisation for Economic Co-operation and Development, a move that would align the country with high-income, innovation-led economies and require comprehensive reforms. Domestically, she said Thailand is building supply chains that are resilient to shocks and ready for the future. The Eastern Economic Corridor is designed to become the region's premier hub for advanced manufacturing, logistics and innovation, and a gateway to Asean's markets. Thailand has been undergoing a digital transformation and preparing for the future of work. In order to ensure that this digital transformation is inclusive, the government has been helping small and medium-sized enterprises (SMEs) access digital tools, financing and cross-border platforms. Promising markets, sectors Mrs Nalinee said Thailand's future trade success will depend not only on preserving traditional markets but also on diversifying its economic footprint. The government is exploring new high-potential markets such as Africa, Latin America, the Middle East and the Eurasian Economic Union. The goal is to increase export share to these markets to reduce over-reliance on any single market. She pointed out that the Middle East and the EU have emerged as high-potential export markets. In 2024, the EU was Thailand's fifth-largest export market, with US$24.2 billion in trade, while the Middle East stood sixth, with $11.8 billion. Mrs Nalinee also pointed out promising sectors for Thailand's exports. They are digital economy and smart technologies; electric vehicles (EVs) and components; semiconductors and advanced electronics; medical and wellness and tourism/healthcare services; and logistics and connectivity. "Instead of relying solely on traditional cost-based advantages, Thailand can step up as a hub for strategic resilience -- building strengths in areas like smart electronics, digital technology, sustainable and green investment," she said. She added that the establishment of the National Semiconductor Board and massive investments in digital infrastructure like AI and data centres highlight the country's pivot towards future-focused industries. Green transformation key Mrs Nalinee highlighted Thailand's ambition to lead Southeast Asia's transition to sustainable development through its bio-circular-green economic model. This approach integrates bio-economy, circular economy and green economy principles by focusing on sustainable resource utilisation, waste reduction and environmental conservation. "Thailand is determined to lead Asean as a green manufacturing hub and achieve net-zero emissions by 2065," she said. Workforce development Mrs Nalinee said a key factor that could determine Thailand's success or failure in this new era is human capital. She explained that the Thai government is investing heavily in workforce development. Its ambitious plans include training 280,000 workers for high-tech sectors like AI, EVs, and semiconductors over the next five years. At least 10 million people are expected to gain basic AI skills, with 90,000 trained as AI professionals and 50,000 AI developers. In parallel, Thailand is promoting its soft power through the "One Family, One Soft Power" initiative, with the government supporting local creators in food, fashion, festivals, film, design and digital content. SMEs promotion Mrs Nalinee pointed out the importance of promoting and strengthening SMEs during these challenging and unpredictable times. She said the Board of Investment has introduced targeted measures to help SMEs adapt to global shifts including support for technology adoption and suspending investment promotion for businesses likely to create oversupply or those at risk of trade restrictions from the US or other countries. It also tightens scrutiny on key production processes for certain industries vulnerable to US trade measures, such as auto parts, electronics and metal products; and tightens criteria and screening regarding the hiring of foreign personnel in proportion to Thai personnel for manufacturing activities.
Bangkok Post
30-06-2025
- Business
- Bangkok Post
Thailand, India set $35bn goal
Thailand and India plan to drive bilateral trade to reach US$35 billion by 2027 through improved connectivity by land, air and sea as well as reduced trade barriers. Bilateral trade between Thailand and India tallied $17.5 billion last year, up nearly 9% from the previous year, said Nalinee Taveesin, president of Thailand Trade Representatives, during "Connections & Converse: An Evening with the India-Thai Chamber of Commerce", held in Bangkok on Thursday at SILQ Hotel & Residence. Ms Nalinee said Thailand is seeking to leverage India's expertise in space technology, artificial intelligence, biotechnology, electric vehicles and software to enhance its emerging industries, particularly in the Eastern Economic Corridor (EEC), along with its development of Thailand Silicon Valley. The India-Thai Chamber of Commerce (ITCC) has roughly 400 member companies, spanning major sectors such as jewellery, textiles, manufacturing and hospitality. Member companies include Indorama Ventures, Tata Consultancy Services (Thailand), Christiani & Nielsen (Thai) Plc, Rhenus Logistics, Bangkok Marriott Sukhumvit, Atlantic Food Products, and Siamese Co Ltd, highlighting the diverse economic landscape of firms doing business in both nations. She said the ITCC serves as a mechanism to strengthen cooperation between the private sectors of both countries. Ms Nalinee said the chamber functions as a bridge between the public and private sectors in fostering an environment conducive to investment and business operations. This effort aligns with the Thai government's vision to elevate Thai-Indian relations to the level of a strategic partnership. She was appointed chair of the subcommittee on promotion of the Indian tourist market, under the government's soft power policy. In collaboration with the Tourism Authority of Thailand and related agencies, the subcommittee is preparing for the "Amazing Thailand Grand Diwali Festival 2025", a nationwide celebration of Diwali scheduled for October. The festival is supported by the Indian Embassy in Bangkok and aims to become a magnet for Indian tourists and festival-goers from around the world. "Beyond the celebration of Indian culture, we will showcase the best of Thai products, services, tourist destinations, and cultural identity to create lasting impressions and stimulate economic growth across the country," said Ms Nalinee.
