Thailand implements a controlled floating exchange rate system, pricing to market forces on the Thai baht, and the Thai central bank would only intervene in the market when necessary, in order to avoid excessive exchange rate volatility to the expected impact of economic policies. At present, the global economic slowdown, domestic demand is not good in Thailand. In order to keep the country's export competitiveness, the Bank of Thailand is more inclined to let the baht weaken. Trade and investment barriers (1). Trade barriers Thailand establishes a lot of policies to control and protect the import and exports goods, Thailand control and manage the quotas of import goods, import license administration, and export registration, export quotas, export licensing administration. Other supporting measures are tariffs, domestic taxes levied, and import surcharges and special taxes to protect and support the export of particularindustries.Protection measures include security measures, anti-dumping and countervailing and technical barriers to trade. 1.1 Not entirely transparent or fair "anti-dumping and countervailing duty laws" In 1995, the Thai Ministry of Commerce promulgated the "Ministry of Commerce on anti-dumping and countervailing duty notice," the notice contained in many of the specific requirements and procedures interpreted by the Department of Commerce Foreign Trade. In July 1999, a new "anti-dumping and countervailing duty laws" promulgated; however, the Department of Commerce Foreign Trade did notexplain many of the specific provisions. This time lag causes any possible interpretation in the future. In addition, there was no English version for many other trade-related laws and regulations. 1.2Technical Barrier... ... middle of paper ... ...onal trade and investment agreements Thailand is more open than before but the production of dairy products, automobile engines and motorcycle assembly are still subject to local manufacturing content, Thailand restrictions. Other risks First is the language communication problem. Thai is the official language of Thailand, all Thai laws and regulations are written in Thai, and this brings difficulties to foreign investors. And in local culture, people generally emphasis on the status and relationships, so it will increase the foreign investment in intangible costs. Second is intellectual property protection problem. Overall, Thailand attaches great importance to intellectual property rights, but in software development there are still some problems. In recent years, the Thai Government puts a lot of effort this situation, and it becomes better.
Office of Industries, U.S. International Trade Commission.(2009).Export controls: an overview of their use, economic effects, and treatment in the global trading system. Retrieved from United States International Trade Commission http://www.usitc.gov/publications/332/working_papers/ID-23.pdf
A problem that could occur is a lack of capital. A lack of capital means less projects can be pursued unless more capital is raised. If more capital is raised the cost of capital will also increase which will lead to the acceptability of some projects changing. The second problem that could occur is capital rationing. The capital budget may be limited due to not wanting to relinquish equity or a lack of skilled
Many sectors of production has been affected tremendously because of the strict regulations implemented by the government to import and export, in addition to the bureaucracy required to obtain dollars in order to fulfil international trading.
“The major nontariff trade barriers include quotas, domestic content requirements, subsidies, antidumping regulations, discriminatory procurement practices, social regulations and sea transport and freight restrictions” (158). There are several types of quotas.
Import export act was introduced by government during Second World War and it lasted for around 45 yrs and in June 1992 this act was superseded by the Foreign Trade (Development & Regulation Act), 1992. The basic objective of this new act was to give effect to the new liberalized export and import policy of the Govt. till 1985 annual policies were made but from 1985-92, three yr policy was made and then 5 yr policy was made coinciding with 5 yr plans 1992-97, 1997-02, 2002-07.
When it comes to doing business internationally the decision making is more complex. There are many interactions between each country that need to be addressed. In order for a business to be successful in the international market they need to examine and analyze all the facets of their company. They need
Among the trilogy of trade remedy regimes- countervailing duty, safeguard and antidumping actions- antidumping actions are by far the remedy of choice. It’s a measure internationally adopted to stop unfair competition, regulate international market order and protect the security of the national industries. It’s adopted by an increasing number of countries as it’s playing an increasingly important role in international trade. It’s perhaps the most controversial subject involving foreign trade. The United States is the world’s biggest user of antidumping and has been for decades. China, on the other hand, has been the number-one target of antidumping by most countries for the past decade. The first dumping lawsuit against china came in 1979 when Europeans accused Chinese saccharin manufacturers of dumping.
In southeastern Asia, there is a country called Myanmar, or Burma. The country have enough natural resources and educated public to make one good economy. After the national democratic election happened in April 2012, pro-democracy leader Aung San Suu Kyi 's party formed a new administration, Myanmar has embarked on an ambitious program of sweeping reforms to integrate its economy with the global system, as well as solving internal economic problems, there should be no doubt that this administration intends to improve the well-being of Myanmar’s population.
H4: Countries with a stronger protectionist stance indicated by higher tariffs tend to be more active in anti-dumping regulation.
The Kingdom of Thailand formerly known as Siam, is found in South East Asia. This country is renowned for having the most recorded reigns in the world. (1) About 64 million people live in Thailand and its largest city is Bangkok which is also its capital city. Thailand experienced rapid economic growth between 1985 and 1995, (2) and today, it is a newly industrialised country well renowned with tourists.
But Thailand’s economy doesn’t only rely on its exportations. Tourism plays an important role in the economy of the country too, and its weight get bigger every single year.
They produced leather goods but only raw materials such as skins of deer, buffaloes and sharks were exported. Regarding metal ware they exported iron, lead and tin. Copper was imported from japan and used in making bronze, and some was re-exported to south Asia. On the other hand, they imported manufactured products from the other Asian countries, and good quality of printed cotton from India. Thai themselves produced cheap cotton textiles and exported them to the poorer countries in southern Asia.
Different countries have different cultures, values, and ideologies. In every society, manners and etiquette are essential. These beliefs have been derived and practiced from the old generation to the modern generation. Manners also shape societies and rule people. In some countries, Thailand and Japan, have a significant numbers of foreigners for varied purposes such as travelling, working, and studying. However, living in the different circumstances is not simple. People may experience some troubles, which can make them confused and embarrassed. Learning to adapt ourselves by learning through their behaviors may encourage people to understand them better. This essay will compare the difference of manners and etiquettes between Thailand and Japan in three significant points.
1. Choose one of the most dominant value systems in your country/culture (for example, a certain religion, ethical theory, political idea or social norm). State its name; describe briefly why you chose it (approximately 100 words/2points)
Foreign Exchange Market allows currencies to be exchanged to facilitate international trade and financial transactions. Evolution of the market in Bangladesh is closely linked with the exchange rate regime of the country. It had virtually no foreign exchange market up to 1993. BANGLADESH BANK, as agent of the government, was the sole purveyor of foreign currency among users. It tried to equilibrate the demand for and supply of foreign exchange at an officially determined exchange rate, which, however, ceased to exist with introduction of current account convertibility. Immediately after liberation, the Bangladesh currency taka was pegged with pound sterling but was brought at par with the Indian rupee. Within a short time, the value of taka experienced a rapid decline against foreign currencies and in May 1975, it was substantially devalued. In 1976, Bangladesh adopted a regime of managed float, which continued up to August 1979, when a currency-weighted basket method of exchange rate was introduced. The exchange rate management policy was again replaced in 1983 by the trade-weighted basket method and US the dollar was chosen as intervention currency. By this time a secondary exchange market (SEM) was allowed to grow parallel to the official exchange rate. This gave rise to a kerb market.