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Thailand seeks negotiation with Malaysia on NTB cut for vehicle exports
Thailand’s ministries of finance and commerce are seeking
Malaysian government cooperation in relaxing non-tariff barriers (NTB) on
automobiles produced in Thailand in order to permit the kingdom to export
more cars to the neighbouring country.
Finance Ministry Fiscal Policy Office director-general Naris Chaiyasoot said
plans to restructure auto taxes by the ministry were now almost complete and
will be forwarded to the ministry’s permanent secretary for consideration
this week.
But, he said, Thailand still faces Malaysian non-tariff measures which are
in place and which impede Thailand’s automotive exports.
Although the two countries earlier agreed to lower automotive taxes to 5 per
cent from 20 per cent, according to Mr. Naris Thailand is still
disadvantaged because of the stiff import regulations imposed by Malaysia
which permit Thailand to export only 50,000 cars annually, despite a healthy
market demand in that country of about 100,000 cars a year.
Mr. Naris said FPO, the Industrial Economics Office and the Commerce
Ministry are trying to negotiate with Malaysian authorities to either relax
or abolish the regulations in order to encourage fair competition.
Should the NTB ease, he believed, Thailand’s vehicle exports to Malaysia
would increase substantially. (TNA)
Sales of alcohol rise 20% during World Cup
Thailand’s sales of alcoholic drinks during this year’s World Cup are
projected to increase by 20 per cent - equivalent to Bt2.8 billion
(about US $73 million), according to a report issued by the Kasikorn
Research Center (KRC).
The report said that manufacturers and vendors of alcoholic drinks in
Thailand are enjoying brisk business as sales are anticipated to rise by
at least 20 per cent during the popular World Cup event. The month-long
playoffs began on June 9 and end on July 9.
The leading think tank said the increase in sales was reflected by
excise tax collections from alcoholic drinks between June 1-15 which had
already risen 3-4 per cent higher than the projected target.
Excise tax collections during the first eight months of the 2006 fiscal
year ending May 31 were, however, about 9 per cent lower than the
government target.
Whether sales of alcoholic drinks would rise significantly during the
World Cup would depend on marketing campaigns adopted by the operators,
the KRC report stated.
The research organisation added an admonition that football fans should
also look after their health as they will likely have only a few hours
of sleep during the tournament. (TNA)
Azerbaijan welcomes Thai investors
Azerbaijan is issuing a welcome to all Thai businesses interested in
investing in the Central Asian country, especially those firms who can
assist in the expansion of local infrastructure and utility systems,
according to Thai Foreign Minister Kantathi Suphamongkhon.
Mr. Kantathi, whilst attending the 33rd Ministerial Meeting of the
Organization of the Islamic Conference (OIC) in the Azerbaijan
Republic’s capital of Baku from June 19-21, told TNA that he was
informed of the investment opportunity for Thai investors from the
President of the Azerbaijan Republic, Ilham Aliyev at a ceremony to open
the Honourable Thai Consulate in Baku..
The newly opened consulate will facilitate Thai investors who want to
expand their investment bases into the Azerbaijan Republic as well as
provide services to Thai tourists who visit the oil-rich state which
gained independence from the Soviet Union in 1991. (TNA)
David Alexander appointed Development Director
Raimon Land PLC recently announced the appointment of David Alexander to
the position of Development Director.
Mr. Alexander brings to Raimon Land 18 years of experience in real
estate and is a member of the Royal Institute of Chartered Surveyors
(UK). He began his career in the UK where he worked for 2 years with
Bernard Thorpe & Partners before moving to Hong Kong where he worked for
Richard Ellis.
 David
Alexander, the new Development Director of Raimon Land PLC.
He has 13 years of experience working in real estate in Thailand, where
he has been since 1993, as he was previously Director for Brooke Hillier
Parker and Executive Director for Insignia Brooke
“I am delighted to be joining Raimon Land, particularly at his exciting
time. The company is currently completing premium projects in Pattaya
and Phuket. We also have additional projects in the pipeline in Pattaya,
Phuket and Bangkok”, said Alexander.
Raimon Land’s CEO, Nigel Cornick commented: “We are very pleased to
welcome David to our company. He brings a wealth of experience and
knowledge about the real estate market in Thailand and will further
strengthen our position as one of the fastest growing real estate
companies in the kingdom.”
Thailand eyes Turkey as trade gateway to southern Europe
Thailand hopes to count on Turkey as a gateway on trade
to southern Europe, while the latter eyes the Thai kingdom as a business
doorway into Asia, according to Deputy Prime Minister and Commerce Minister
Somkid Jatusripitak.
Speaking after a meeting with the Export Promotion Department’s officials
and representatives of the Turkish Chamber of Commerce and leading
businessmen in Istanbul, Dr. Somkid said Thailand and Turkey have a great
deal of room for expansion in terms of trade and could enhance business
cooperation by at least 5-6 times its current level.
Turkey currently imports raw materials from Thailand and the Turkish
Gemstone Chamber of Commerce has also expressed an interest in establishing
a manufacturing plant in Thailand.
Following the meeting in Istanbul, Turkish business leaders agreed with the
Export Promotion Department to set up a joint Thai-Turkish business council
aimed at boosting bilateral trade.
During Dr. Somkid’s visit to Turkey, a memorandum of understanding (MOU)
between the Thai and Turkish private sectors was also signed to facilitate
cooperation in the textile and auto industries.
Boonyarith Kalayannamitr, Director of the Overseas Trade Promotion Office in
Istanbul, said the future of Thai and Turkish trade looks promising in view
of the expanding Turkish economy and the advantages it would bring to Thai
trade in the region. At present, however, Turkey is considered to be a
relatively new market with which Thai business leaders are not too familiar.
Last year, Thailand’s exports to Turkey totaled US$560 million, up 60 per
cent from the previous year. It is expected that Thailand’s exports to the
country will increase by at least 30 per cent this year to US$700 million.
(TNA)
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