The direction of Thailand-Taiwan relations after their presidential election on March 22 may likely be both positive and negative to Thailand. On the positive side, improved relations between the two countries will be a good opportunity for Thai exports to Taiwan, especially in the category of farm goods, foods and raw materials. However, conversely, closer ties between China and Taiwan may negatively impact Taiwanese trade and investment in Thailand, as we may have to face intensifying competition in both trade and investment with China.
Obstacles from the above impacts on Thailand are a big challenge for the Thai government and concerned agencies to solve, where they may need to undertake urgent measures for international trade and investment promotions over the long term. KASIKORN RESEARCH CENTER (KResearch) has certain suggestions for the authorities and concerned agencies:
The authorities should lay down clear overview policies for investment promotion in order to attract foreign investors and stimulate the domestic economy, which would benefit employment and the income distribution within our country.
The authorities should set up development plans and strategies for both trade and investment for sustainable expansion of our domestic economy.
The authorities should develop domestic infrastructure, improve logistics systems, making them more modern and efficient to enhance our competitiveness, potential, and appeal to foreign investors.
The authorities should promote training to improve skills and expertise in domestic personnel to prepare for expanded employment in each industry in the future.
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