Sunday , February 19 2017
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Thailand, Sri Lanka all set to sign FTA this year

Thailand, Sri Lanka all set to sign FTA this year

BANGKOK: Thailand and Sri Lanka are set to sign a free trade agreement (FTA) later this year, aiming to triple bilateral trade to US$1.5 billion (52.5 billion baht) over the next five years. Deputy Prime Minister Somkid Jatusripitak, who met with Malik Samarawickrama, Sri Lanka’s Development Strategies and International Trade Minister, said the two countries aimed to sign the FTA ... Read More »

Thailand to Sell 96,000 tonnes of rubber from state stockpiles


BANGKOK: Thailand, the world’s biggest producer and exporter of rubber, expects to sell 96,000 tons of the commodity from state stockpiles, an official at its rubber authority told Reuters on Wednesday. The sale is expected to fetch the government more than 6.84 billion baht ($195.43 million), the official at the Rubber Authority of Thailand said. “We’ll hold another auction in ... Read More »

Thai oil, gas major PTT seeks new suppliers


BANGKOK: Thailand’s state-run oil and gas company PTT plans to massively expand its LNG import capacity and ramp up overseas development again, CEO Tevin Vongvanich told the Nikkei Asian Review, in search of alternatives to dwindling domestic resources. While work is ongoing to more than double the capacity of its only liquefied natural gas terminal, located in the cental province ... Read More »

NFA urged to extend arrival period for rice imports


BANGKOK: Farmers’ cooperatives and private companies are asking the National Food Authority (NFA) for a one-month extension of the arrival period for rice imported under the so-called minimum access volume (MAV). According to NFA Spokesman Marietta J. Ablaza,  farmers’ cooperatives and firms need more time to bring in rice imported under the MAV scheme of the World Trade Organization. “The ... Read More »

Thai drug cops make ‘cocaine lotion’ bust at airport


BANGKOK: An Ecuadorian and a Russian have been arrested for attempting to smuggle 2.3kg of cocaine into Thailand mixed into bottles of skin lotion, police. Acting after a tip-off from Interpol, Thai drug police held the Ecuadorian woman after she arrived on a flight from Peru at Bangkok’s main airport on Monday. A search of her luggage uncovered six containers ... Read More »

Thai rice worries Vietnamese exporters


BANGKOK: Nguyen Van Don, director of Tien Giang-based Viet Hung Co Ltd, said rice exports were positive last month, with many contracts signed. But starting early last week, trading tended to slow, he said, adding that his company has not had any new export contracts. He attributed this to the higher prices of Vietnamese rice compared to last month, and ... Read More »

Thailand rice exports likely to decline 4% in 2107


BANGKOK: Rice exports from Thailand, the largest world supplier after India, are likely to decline about 4 percent this year because of increased competition from Vietnam and other producers. Exports will total 9.5 million tons in 2017,the honorary president of the Thai Rice Exporters Association, said recently in an interview. That compares with 9.88 million tons in 2016, according to ... Read More »

Thai-Cambodian border trade up in Jan


BANGKOK: Border trade between Thailand and Cambodia through the eastern province rose by 12.71% month-on-month in January, with a 3.34% decline in Thai exports to the neighbouring country and an 89.48% increase in imports. The value of trade through the Aranyaprathet checkpoint amounted to 6.45 billion baht, increasing by 727 million baht or 12.71% from December, said Janpen Sonsomsuk, Sa ... Read More »

Thailand delays launch of $2.9b infrastructure fund to Q2


BANGKOK: Thailand plans to launch a 100-billion baht ($2.85 billion) infrastructure fund in May or June this year, the finance minister said on Wednesday (08/02), as the military government seeks to fund investment projects to boost a sluggish economy. Last month, a ministry official said the fund would go public in the first quarter. The “Thailand Future Fund” will initially ... Read More »

Thai central bank seen holding policy rate as global risks rise


BANGKOK: Thailand’s central bank will likely leave its policy rate unchanged near record lows this week, as policymakers turn their focus to fiscal spending to support weak economic growth. Bank of Thailand (BoT) governor Veerathai Santiprabhob told Reuters last month that monetary policy would remain “accommodative” as the economic recovery was fragile and inflation was not a big concern. Thailand’s ... Read More »

VPG aims for B10bn in revenue by 2021


BANGKOK: Vet Products Group (VPG), one of Thailand’s top three animal food supplementary and pharmaceuticals producers, expects its revenue to jump fivefold to 10 billion baht by 2021, up from 2 billion in 2016. A local producer of feed products for swine, ruminant species, poultry and aquatic animals said the huge revenue growth would be from new markets abroad such ... Read More »

Thailand rice exports seen falling to 9.5m tonnes: Industry


BANGKOK: Thailand’s rice exporters expect a drop in sales this year, to around 9.5 million metric tons, as they face for more aggressive competition from its neighbor, Vietnam. Thailand, the world’s second-biggest rice exporter after India, exported 9.63 million tons of rice in 2016, according to figures from the Commerce Ministry. “We target 9.5 million tons this year,” Chookiat Ophaswongse, ... Read More »

Fuel tax may hurt tourism


BANGKOK: Reflecting industry concerns, the boss of Thai AirAsia (TAA) yesterday warned that ticket prices inflated by the jump in excise tax on jet fuel will have a detrimental effect on domestic tourism. TAA chief executive Tassapon Bijleveld said passengers flying domestic flights are mostly of the leisure type and are price-sensitive. “A 100- or 200-baht increase [in ticket price] ... Read More »

Customs seize 2.9 tonnes of pangolin scales


BANGKOK: Customs officials have seized a total of 2.9 tonnes of pangolin scales found in two shipments transiting Suvarnabhumi airport from the Democratic Republic of Congo to Vientiane, Laos, in December last year, department chief Kulit Sombatsiri said. Mr Kulit said customs officials on Dec 4 examined 34 packages, with a total weight of 1,700 kilogrammes, shipped on Flight TK064 ... Read More »

Thai airlines raise domestic fares


BANGKOK: Thailand’s low-cost airlines are increasing fares on domestic routes in a respond to a massive increase in excise tax on jet fuel that came into effect last week. The government increased the fuel tax on all domestic flights from 20 satang to THB4  per litre, claiming it was overdue, while bringing the tax more inline with the THB6 a ... Read More »

Thai Dec factory output up 0.54%


BANGKOK: Thailand’s industrial output rose for a second straight month in December, boosted by stronger demand for steel, electronics, rubber and jewellery, but the gain was still small, suggesting the economic recovery remains fragile. The Industry Ministry said on Tuesday its manufacturing production index (MPI) in December was up 0.54 percent from a year earlier. A Reuters poll forecast a ... Read More »

Southeast Asia reforms customs rules to boost trade


BANGKOK: Southeast Asian countries are working to reform customs systems in a bid to boost trade. Members of the Association of Southeast Asian Nations are mostly ranked low in the latest global ranking of logistics efficiency by the World Bank, based on its logistics performance index. The onlyexception was Singapore, which was among the top of the list. The Philippines ... Read More »

Thailand raises jet fuel excise tax for domestic flights


BANGKOK: Thailand has increased excise tax on jet fuel for domestic flights to 4 baht (10 US cents) a liter from 0.2 baht, a senior finance ministry official said on Friday (27/01), sending airline shares lower. The increase should generate the government more than 4 billion baht ($113 million) from domestic jet fuel consumption, which is expected at about 1.2 ... Read More »

Thai e-commerce sector expected to expand by 20% this year


BANGKOK: The bullish forecast came as it was revealed the Southeast Asia e-commerce market in 2015 was worth US$900 million (Bt31.7 billion) and is forecast to grow up to 16 times that figure – about $11 billion – by 2025. Worawoot Ounjai, chief executive of Central Online, said that the e-commerce market in Thailand would grow more than 15 per ... Read More »

Thai court muzzles media as trafficking defense begins


BANGKOK: Dozens of people including a general arrested in Thailand’s crackdown on human trafficking appeared in court on Tuesday to begin presenting their defense but reporters were barred from reporting trial proceedings. The kingdom has long been a major hub for human trafficking and people-smuggling, with officials accused of turning a blind eye and even of complicity. Thailand’s junta launched ... Read More »