Australia Thailand Business Council - Thailand: Unbeatable Business Opportunity Thursday 25th July 2019 Amora Hotel, Sydney - Australia Thailand ...
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Australia Thailand Thailand: Unbeatable Business
Opportunity
Business Council Thursday 25th July 2019
Amora Hotel, Sydney
Australia Thailand Business Council Background…
The history of the Australia Thailand Business Council or ATBC can be traced back almost 40 years (Est. 1980) from the relationship of Australian companies with interests in Thailand and the Thai-Australia Chamber of Commerce and Industry. The Council further established links through Thailand's International Trade Committee with the Thai Chamber of Commerce (TCC), the Federation of Thai Industries (FDI), and the Thai Bankers' Association (TBA). This subsequently culminated in the ATBC signing a MOU Partnership with the Australian Thai Chamber of Commerce or AustCham Thailand in 2005. Since then, the ATBC has continued to advocate to the Australian and Thai Governments on behalf of the private sector to promote bilateral trade, with many success stories since its foundation. The ATBC looks forward to celebrating its 40 years of service to the Australian and Thai business sectors in 2020.
Australia Thailand Business Council Today…
Executive Team of 5 with a diverse
range of business and government
experience in Australia/Thailand.
President &Treasurer - Doug Blunt
Vice-President & Secretary - Jamie Gibson
Assistant Secretary & Board Member -
Peter Siripol
Board Member - Glen Robinson
Board Member - Aakash Tolani
(Not pictured)
More than 50 members with +200 local contacts. Sister chamber - AustCham based in Thailand with +400 members. Assisted/responded to more than +80 contacts/enquiries in calendar 2018. Areas of assistance included agriculture, financial services, manufacturing, sports and tech. Works closely with DFAT, Austrade, Thai Trade, BOI, other peak government and industry groups.
Why
Thailand?
Source: Thailand Today 2019
Thailand-Australia Free Trade Agreement (TAFTA)
took effect in 2005, strengthening 2-way trade.
2 way trade between Aust-Thai in 2018 was worth
$21.5 billion (incl. exports & imports).
6th largest trading partner.
Key commodities: Aust exports crude petroleum,
gold, aluminium, coal.
Aust imports – goods & passenger vehicles,
household equipment, heating/cooling tech.
2nd largest ASEAN economy and ranked in the top
20% of the World Bank’s ease of doing business
index.
Between 2014-2019 GDP increased from US$407.3
billion to US$516.7 billion.
GDP predicted to grow at 3.9% in 2019 despite
global uncertainties (trade protectionism,
geopolitical uncertainties).
Source: http://www.phuket.com/magazine1/dos.htm Source: DFAT-Thailand Stats /Deloitte – Thailand-economic-outlook 2019
Source: Deloitte: Thailand-economic- outlook 2019.
Deloitte – Thailand-economic-outlook 2019
Why Thailand? Some Cool Facts…
Bangkok was the most visited city in the world in 2018 – with
21.98 million visitors.
Sydney has the 2nd largest Thai population outside of Thailand.
50% of the worlds population is less than a 5 hour flight from
Thailand.
Source: Business Insider 2019 /USYD – SEA Centre, Thailand in AustraliaUnbeatable Thailand…
Key trends that support Thailand
as a premier investment
destination:
Greater demand
for premium
goods & services
Developing as a
Targeted strategic
regional
growth plans – for
manufacturing
example: Eastern
hub with a focus
Economic Corridor
on automotive,
Development Plan
electronics & food
and Thailand 4.0
processing
Strong tourism &
consumer confidence
Growing Greater
urbanisation and role/share in
infrastructure and ASEAN
transport markets/region
Growing
transformative
tech hub (Digital)Doing Business in Thailand…
Understand your market – Do your homework. Decide what type of business suits you best:
E.g. Registered Ordinary or Limited Partnership, Representative/Regional/Branch Office or
Limited Company.
Understand the law: The Foreign Business Act 1999 (Good idea to get legal advice before
you start). What you can and can’t do…..
Understand ownership structures: shareholdings (majority/minority/nominee) and
minimum paid up capital requirements.
http://www.thinkasiainvestthailand.com/web/en-why-thailand.phpTake advantage of Incentives/Promotions: BOI, Austrade (as we just heard)…… Visa Requirements/Work Permits: Check which one fits your needs. E.g. Non- immigrant (business visa) and Smart Visa’s for targeted industries. Banking: You can open trading accounts via Commercial/Foreign banks in Thailand. (Strong documentation required to open accounts). Tax: Understand the application of Corporate Income Tax/Withholding tax rates/ Aus- Thai Double Tax Treaty.
Understand Thai Business Culture…
Relationships and networks are key in Thailand.
(Find a good local partner if you need one)
Spend some time with your partners to build trust.
Appreciate the Thai culture, including learning some
basic Thai greetings like the Wai and some basic Thai
language.
Cultural training courses are a good idea.
Allow time for documents/applications to be
processed.
Be a good guest – show respect for the law.
Get involved in the Alumni network.
:A Bright Future in Thailand… Good growth predicted in key industries….
Supported by targeted economic growth incentives and
policies……good opportunity for SMEs…….
Thailand 4.0
Eastern Economic Corridor.
Special Economic Zones.
Clusters focusing on Next Gen Automotive, Smart
electronics, Agriculture & Biotech, Robotics, Medical hubs,
Digital, IoT, Aviation & logistics, Health, Wellness & Bio-med,
Source: Thailand Today June 2019 Biofuels….. It is very important that Australian companies/investors clearly understand Thai governance requirements and culture, which is a key to success. It is also important that Australian businesses stay engaged with their business partners to cultivate mutual trust and good relationships. Please remember that the BOI, Thai Trade Centre, Austrade and ATBC are more than happy to help facilitate your business ventures in Thailand.
Thank you very much for
your attention…
“Khob Khun Maark Krub”
For more information or assistance
in getting your business started in
Thailand you can contact us here:
www.aust-thai.org.auYou can also read
