Last week FEDECAMARAS organized in conjunction with the trade office the diplomatic representatives of Thailand in Brazil, a business conference to promote trade relations between Venezuela and Thailand.
Thailand has an economic system of mixed economy that most countries in the world have. The state can participate in various parts of economic activities, however, most are private sectors with competitiveness in the manufacturing sector and the free trade system.
The main important sources of income of the country is on agriculture, industry, tourism, services and natural resources. The export of agricultural products and by higher revenue remains the country from 2010 to the present. Although industry revenue and tourism are increasingly becoming more important in recent years, the Government has also been focusing on giving priority to the development of agriculture, especially rice production, achieving rank among the leading exporters of this cereal in the world.
According to official figures of the country, GDP grew 6.4% in 2012. And in 2013 a similar performance is expected. These data confirms the consolidation of the growth of the economy after the slowdown that caused the 2011 floods, the worst in 70 years flooded two thirds of the land area.
The government has had to spend more than 11,000 million dollars to the reconstruction of infrastructure; It has also implemented radical measures to boost domestic demand and raising the minimum wage in many areas of the country.
In 2012, Thailand has faced on one side to the fall in exports caused by the slowdown in the world economy and on the other to the serious problems caused by the floods in agriculture and industry.
Most industrial parks where multinational electronics installed or were flooded car were stopped and causing production losses in Thailand and abroad. The assembly of many companies are affected by the lack of supplies of parts which are manufactured in Thailand and the price of many products, especially computer components, prices on the international market have doubled since about 30 % are made there.
However, Thailand has had a strong economic base in combination between fiscal policy and monetary policy, which has made its economy has grown since 2010; both in exports, tourism and growth in domestic spending.
Despite various setbacks, such as the volatility of capital flows, natural disasters and delayed economic recovery in some advanced economies, given its strong growth momentum and solid economic fundamentals, the Thai economy expected to achieve solid growth results.
Thailand strongly supports international trade, to ensure sustainable economic growth. Thailand will continue to support free and fair trade. The basic strategy of the government will remain a progressive economic liberalization policy to introduce changes gradually. The country will continue to promote bilateral and multilateral agreements to attract foreign investment and increase opportunities of access to markets for their goods and services.
The transformation that Thailand is making in recent years goes beyond the recovery of the main macroeconomic values: the country has used the crisis to transform its economic structure, he looked exhausted. If in the seventies and eighties growth was based on the arrival of foreign companies in the sector of light industry textile-especially attracted by cheap labor, the development and opening of China it has made it impossible to compete in that segment, so the government has selected a list of sectors in which Thailand can be competitive, offering interesting investment advantages: one, the automobile sector where already about a million units are produced by the arrival of Japanese and Korean manufacturers seeking not only supply the local market, but leverage the advantages of the Free Trade Agreement of the ASEAN, the food industry is very traditional fashion sector, taking advantage of the influx of wealthy Asian tourists, eager to make purchases, or tourism, are some of the most relevant.
In addition, within each sector, Thailand has sought interesting niches: in the automotive sector, the tourism sector and also making inroads into the financial sector and business center of Southeast Asia, Singapore to the limitations in their physical expansion and sometimes onerous costs means Square Hong Kong. Its location midway between Europe and the Far East make Bangkok an increasingly attractive place, to which we must add competitive prices and friendly environment for executive expatriates and their families.
Thailand's natural resources, dynamic industrial setting, a productive agricultural sector and strong tourism industry seem to be logical drivers for continued growth potential. Exports, including machinery and electronics, agricultural raw materials and jewelry, dominate the country's economic graphs and represent more than half of GDP. Although still imports a significant amount of energy to supply its needs, the country has significant reserves of natural gas offshore.