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Thailand country brief

Thailand is the second largest economy in the 10-nation ASEAN, after Indonesia. It is an export-dependent economy, with exports accounting for almost 70 percent of GDP in 2010.

Thailand is rich in natural resources and its fertile soil is ideal for the cultivation of a wide range of cash crops and fruits. It also has a sizeable food-processing industry, which has expanded rapidly in recent years.

Trade between New Zealand and Thailand has been steadily growing since the New Zealand Thailand Closer Economic Partnership (CEP) entered into force in 2005. In 2010, Thailand was New Zealand’s 10th largest trading partner in terms of bilateral trade, which was valued at NZ$2 billion.

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Opportunities

Thailand is part of the ASEAN (Association of Southeast Asian Nations), Australia and New Zealand Free Trade Agreement. The agreement will eliminate tariffs between member nations.
There are opportunities for New Zealand companies in the food processing sector to help with the design, packaging, and marketing of Thai cuisine and fusion food.
Opportunities exist for the supply of superior pleasure craft, marine accessories and components, including electronic and navigation equipment, hardware fittings, composite spars etc.
With New Zealand’s green reputation, innovative construction materials, including wood products, have good potential in the Thai construction market.
New Zealand health information technology systems could fit well with Thailand’s growing medical tourism market.
Opportunities exist in the clean technology sector, particularly in biofuels and waste management.

Cultural and business tips

New Zealanders are permitted to enter Thailand for 30 days without a visa.
English is usually spoken in business circles, but Thais will appreciate any efforts by a foreigner to learn some of their language.