Thailand and Australia have formula to beat global protectionism

[webfact]

Thailand and Australia have formula to beat global protectionism 

By Mark Coulton

 

 

The trade relationship between Australia and Thailand is strong, but there is huge potential for growth. In the face of growing protectionism in some international markets, it is vital that we continue to nurture the links that have contributed to our shared economic prosperity.

 

It is in both Thailand’s and Australia’s interests to promote and expand trade and investment with each other, and with our region.  Jobs, growth, and better living standards are all enhanced by the opportunity to sell our goods and services to the world.

 

A sound framework for bilateral and regional trade and investment will help assure Australia’s and Thailand’s future prosperity.

Economic growth in both our countries over the past 30 years has been based on sound policies, careful economic management a strong focus on developing international competitive export industries, and a commitment to open markets.

 

The Thai government has continued this tradition by articulating a dynamic economic vision in Thailand 4.0, a blueprint to transform the economy to one that is innovation-driven. Developments beyond Thai borders will be important to the realisation of that vision.

 

Rising protectionist sentiment around the world is a major threat to even the best-crafted growth strategy. For an export-oriented Thai economy, protectionism is an urgent challenge.  

 

Australia understands this because, like Thailand, our economy is dependent on access to global opportunities. 

 

Through agreements such as the Thailand-Australia Free Trade Agreement (TAFTA) signed over a decade ago, we have been able to maximise the economic benefits arising from these opportunities. 

 

TAFTA, Thailand’s first comprehensive free trade agreement and its first with a developed country, reflects the importance that both Thailand and Australia attach to free trade.

 

Since TAFTA entered into force in 2005, two-way trade between Thailand and Australia has more than doubled, to the benefit of both countries.

 

The conclusion of the Asean-Australia-New Zealand Free Trade Area (AANZFTA) in 2010, which includes Thailand, provided a framework for further growth in the region.  

 

There is great potential for Thailand and Australia to strengthen further our economic relationship. 

 

For example, Australia’s knowledge sector, particularly its world-class education sector, is a resource that can help Thailand improve the skills of its workforce.  

 

Australian capabilities in agriculture, health services and tourism can help Thailand transform its own competitive strengths in these sectors. 

 

The Regional Comprehensive Economic Partnership (RCEP), which is currently under negotiation, presents another opportunity for Thailand, Australia and the region. 

 

RCEP will enable the further development of regional value chains and allow Thailand to position itself as a regional hub. 

 

It will create jobs and growth in Thailand, and improve quality of life for Thai people. 

 

Australia is committed to strengthening its economic relationship with Thailand, for the benefit of both nations. We must work together to combat protectionism and promote free trade in the region.

 

Mark Coulton is the Australian assistant minister for Trade, Tourism and Investment.

 

Source: http://www.nationmultimedia.com/detail/opinion/30350745

 

-- © Copyright The Nation 2018-07-25

[Samui Bodoh]

6 minutes ago, webfact said:

Thailand and Australia have formula to beat global protectionism 

Hmm... So the 'formula' is to have trade deals.

 

Hmm... Why didn't anyone else think of that?

 

Oh, by the way,

 

"...The Thai government has continued this tradition by articulating a dynamic economic vision in Thailand 4.0, a blueprint to transform the economy to one that is innovation-driven..."

 

 

Comedy gold...

 

[Chang_paarp]

15 minutes ago, webfact said:

 

 Mark Coulton is the Australian assistant minister for Trade, Tourism and Investment.

 

I wonder which of his minions wrote this piece of pap?

 

17 minutes ago, webfact said:

 

The Thai government has continued this tradition by articulating a dynamic economic vision in Thailand 4.0, a blueprint to transform the economy to one that is innovation-driven. Developments beyond Thai borders will be important to the realisation of that vision.

As said above comedy gold.

[rkidlad]

Right. I look forward to reasonably priced Australian coming soon. 

[car720]

2 hours ago, webfact said:

For example, Australia’s knowledge sector, particularly its world-class education sector, is a resource that can help Thailand improve the skills of its workforce.  

The only knowledge that Australia has in the education sector is how to rip off Asian students.  It's all about the revenue.  As an example I spoke to a school in Australia about their regional education exchange program and was promptly told to contact the government which I did.  I requested that the student who was coming be able to live with my wife and I, who are close members of the family and have their total blessing.  The government said no but that we could use their homeshare program and receive about half of what the parents would have to pay.  How's that for profiteering?

Also, just what does Australia produce and if they are then where are the jobs?

[4MyEgo]

Australia building trade relations with Thailand, currently run by the military, so much for "democracy", shame on you Australia, shame, the $ always before people oy !

[simple1]

11 minutes ago, 4MyEgo said:

Australia building trade relations with Thailand, currently run by the military, so much for "democracy", shame on you Australia, shame, the $ always before people oy !

Why punish the Thai people? FYI DFAT 2017 figures for the FTA agreement.

 

https://dfat.gov.au/trade/resources/Documents/thai.pdf

 

 

[simple1]

16 minutes ago, 4MyEgo said:

Australia building trade relations with Thailand, currently run by the military, so much for "democracy", shame on you Australia, shame, the $ always before people oy !

Deleted duplicate post

Edited July 25, 2018 by simple1

[4MyEgo]

1 minute ago, simple1 said:

Why punish the Thai people? FYI DFAT 2017 figures for the FTA agreement.

 

https://dfat.gov.au/trade/resources/Documents/thai.pdf

 

 

If the world, not only Australia applied pressure on the Junta to have a freely elected government, "democracy", then I wouldn't have an issue.

 

The Junta are already punishing the Thai people, by milking them for what they can.

 

Australia and any other country that turns a blind eye to this over $'s are as equally disgusting IMO.

[electric]

After reading the first couple of paragraphs, I thought the author Mr Coulton has to be a public servant or politician. Wow ... big surprise when you get to the bottom of the story.

 

What a load of talk-a-lot, but say-nothing goobly-gook.

 

Someone probably had to remind him that the story was for The Nation newspaper in Thailand, so fer-Christ-sake, mention Thailand in there somewhere.

 

As an Australian, the only thing I ever related to Thailand was the car industry and the cheap holiday flights to Phuket. Does Australia export anything to Thailand ?

 

As a Thai, my wife couldn't name a single thing about Aust-Thai economic anything. (She does enjoy Aussie Rules Football 555)

 

This story is just a regular piece of political pap without any juicy morsels to dissect.

 

 

[simple1]

8 minutes ago, 4MyEgo said:

If the world, not only Australia applied pressure on the Junta to have a freely elected government, "democracy", then I wouldn't have an issue.

 

The Junta are already punishing the Thai people, by milking them for what they can.

 

Australia and any other country that turns a blind eye to this over $'s are as equally disgusting IMO.

Unsure how the current Thai government is that much worse in their treatment of the Thai people to any other in the past twenty years or so, they all have had their faults with oppression, corruption and so on. I repeat the Oz Thai FTA is to the benefit of the Thai people, so why punish them, doesn't make sense.

[simple1]

3 minutes ago, electric said:

After reading the first couple of paragraphs, I thought the author Mr Coulton has to be a public servant or politician. Wow ... big surprise when you get to the bottom of the story.

 

What a load of talk-a-lot, but say-nothing goobly-gook.

 

Someone probably had to remind him that the story was for The Nation newspaper in Thailand, so fer-Christ-sake, mention Thailand in there somewhere.

 

As an Australian, the only thing I ever related to Thailand was the car industry and the cheap holiday flights to Phuket. Does Australia export anything to Thailand ?

 

As a Thai, my wife couldn't name a single thing about Aust-Thai economic anything. (She does enjoy Aussie Rules Football 555)

 

This story is just a regular piece of political pap without any juicy morsels to dissect.

 

 

Yes Australia does export to Thailand.

 

Your wife may wish to look up the advantages offered to Thai people as an outcome of the FTA such as employment and education in Australia and vice versa, Thai export trade to Australia of approx $14 billion a year (doubled in ten years) etc.

 

Sure the article is diplomatic in nature, so what?

[Peterw42]

As a casual observer, the trade, although free, does appear to be very one way. The top 3-4 selling cars in Australia all come from Thailand tax/duty free, hard drives, shoes, seafood etc. Day to day in Thailand I dont see any Australian companies or produce on the supermarket shelf. A stroll through the supermarket appears to show goods from, literally, all over the world, except Australia. I can recognise maybe one Australian product in Thailand, Bluescope steel roofing.

Edited July 25, 2018 by Peterw42

[Chassa]

36 minutes ago, electric said:

After reading the first couple of paragraphs, I thought the author Mr Coulton has to be a public servant or politician. Wow ... big surprise when you get to the bottom of the story.

 

What a load of talk-a-lot, but say-nothing goobly-gook.

 

Someone probably had to remind him that the story was for The Nation newspaper in Thailand, so fer-Christ-sake, mention Thailand in there somewhere.

 

As an Australian, the only thing I ever related to Thailand was the car industry and the cheap holiday flights to Phuket. Does Australia export anything to Thailand ?

 

As a Thai, my wife couldn't name a single thing about Aust-Thai economic anything. (She does enjoy Aussie Rules Football 555)

 

This story is just a regular piece of political pap without any juicy morsels to dissect.

 

 

Can't buy my Aussie butter anymore at Macro.

[4MyEgo]

1 hour ago, simple1 said:

Unsure how the current Thai government is that much worse in their treatment of the Thai people to any other in the past twenty years or so, they all have had their faults with oppression, corruption and so on. I repeat the Oz Thai FTA is to the benefit of the Thai people, so why punish them, doesn't make sense.

While the junta keep oppressing the Thai people, sounds logical, in your world, not mine. 

[ba ba]

22 minutes ago, Peterw42 said:

As a casual observer, the trade, although free, does appear to be very one way. The top 3-4 selling cars in Australia all come from Thailand tax/duty free, hard drives, shoes, seafood etc. Day to day in Thailand I dont see any Australian companies or produce on the supermarket shelf. A stroll through the supermarket appears to show goods from, literally, all over the world, except Australia. I can recognise maybe one Australian product in Thailand, Bluescope steel roofing.

the (FTA) only works one way thai way, as for cars how come it cost around $12,000 more for one of those cars in australia so there is no tax/duty free i know bought one here in thailand and priced it when i went home

[Lupatria]

Thailand claims to have a formula for everything, except how to run a democratic country. Or maybe this is a typo and they meant to have a 'form' subject to tea money for everything to run the economy.

[Rawairat]

Looked at the FTA couldn’t see many benefits, except Australia gets cheap cars at the expense of having no car industry,  makes big car companies happy. Thai made Honda Jazz was more expensive in Thailand than in Australia . Looked at the Territory Ford made in Australia a few years ago it was double the price in Thailand. Yes certain things are excluded like cheese, meat, wine etc, or set to change in future years ??? I guess there is a trade deficit with brides or should we include grooms. 

Maybe  they could include entry to national parks in to the agreement, after all tourists are trade in Thailand anyway.

[ba ba]

7 minutes ago, Rawairat said:

Looked at the FTA couldn’t see many benefits, except Australia gets cheap cars at the expense of having no car industry,  makes big car companies happy. Thai made Honda Jazz was more expensive in Thailand than in Australia . Looked at the Territory Ford made in Australia a few years ago it was double the price in Thailand. Yes certain things are excluded like cheese, meat, wine etc, or set to change in future years ??? I guess there is a trade deficit with brides or should we include grooms. 

Maybe  they could include entry to national parks in to the agreement, after all tourists are trade in Thailand anyway.

go and price a chevvy and ford pick up then look at the australia price and they are both made here in thailand and not that long ago it cost $3.000 AUS to ship an old car from usa in a container to aus so to ship a boat load from here

[Krataiboy]

"Economic growth in both our countries over the past 30 years has been based on sound policies, careful economic management a strong focus on developing international competitive export industries, and a commitment to open markets".

 

Really?

 

And there was me thinking Thailand's wealth - 90 percent owned by a privileged elite - was accumulatged through the exploitation of immigrants and a domestic workforce struggling to survive on wages which would be beer money to the average Aussie.

 

This latest example of egregious public relations bullsh-t - dutifully swallowed and faithfully egurgitated by the supine Thai press - illustrates vividly why Thais need to fight further government attempts to control free speech on the Internet and social media.

 

 

Edited July 25, 2018 by Krataiboy

[Srikcir]

6 hours ago, webfact said:

We must work together to combat protectionism and promote free trade in the region.

Somebody forgot that Prayut has used his absolute power under Article 44 to violate the Australian-Thailand Free Trade Agreement by unilaterally shutting down an Australian mining enterprise and demanding compensation before allowing resumption of an operating license.

One must question whether the unelected, undemocratic Prayut government can be trusted to adhere to the terms of free trade agreements or continue protectionism (and possibly government corruption) despite free trade agreements.

[connda]

If there is one country that engages in protectionism and excessive tariffs and duties, it's Thailand.  It would be appropriate for Trump to 'level the playing field' here and for other global exporters to follow suit.  Including Australia.  Like others have noted, show me the low-priced, tariff free Aussie retail goods lining the shelves of the markets.  Yeah, right!  ?

Edited July 25, 2018 by connda

[Poottrong]

15 minutes ago, connda said:

If there is one country that engages in protectionism and excessive tariffs and duties, it's Thailand.  It would be appropriate for Trump to 'level the playing field' here and for other global exporters to follow suit.  Including Australia.  Like others have noted, show me the low-priced, tariff free Aussie retail goods lining the shelves of the markets.  Yeah, right!  ?

There is such a thing as Aussie-made retail goods? ?

 

[zyphodb]

The Auz products I notice are frozen Beef, butter & wine, all with a hefty Thai import tax on, so what are they talking about???

[Expatthailover]

4 hours ago, car720 said:

The only knowledge that Australia has in the education sector is how to rip off Asian students.  It's all about the revenue.  As an example I spoke to a school in Australia about their regional education exchange program and was promptly told to contact the government which I did.  I requested that the student who was coming be able to live with my wife and I, who are close members of the family and have their total blessing.  The government said no but that we could use their homeshare program and receive about half of what the parents would have to pay.  How's that for profiteering?

Also, just what does Australia produce and if they are then where are the jobs?

So your one instance is reason why we should accept your view.

Love empirical proof over anecdotal bias

[lordblackader]

Let me go and look at my favorite Australian wines - 300% import tax, great example of "free trade."

[dick dasterdly]

3 hours ago, Peterw42 said:

As a casual observer, the trade, although free, does appear to be very one way. The top 3-4 selling cars in Australia all come from Thailand tax/duty free, hard drives, shoes, seafood etc. Day to day in Thailand I dont see any Australian companies or produce on the supermarket shelf. A stroll through the supermarket appears to show goods from, literally, all over the world, except Australia. I can recognise maybe one Australian product in Thailand, Bluescope steel roofing.

To be fair, Makro sell frozen Aussie beef and lamb at (presumably) tariff free prices.

[Time Traveller]

3 hours ago, electric said:

After reading the first couple of paragraphs, I thought the author Mr Coulton has to be a public servant or politician. Wow ... big surprise when you get to the bottom of the story.

 

What a load of talk-a-lot, but say-nothing goobly-gook.

 

Someone probably had to remind him that the story was for The Nation newspaper in Thailand, so fer-Christ-sake, mention Thailand in there somewhere.

 

As an Australian, the only thing I ever related to Thailand was the car industry and the cheap holiday flights to Phuket. Does Australia export anything to Thailand ?

 

As a Thai, my wife couldn't name a single thing about Aust-Thai economic anything. (She does enjoy Aussie Rules Football 555)

 

This story is just a regular piece of political pap without any juicy morsels to dissect.

 

 

yes, this politician is clueless.....The trade relationship is very one sided - with Thailand being the major beneficiary -.they (Thailand ) export more than 3 times as much by value as Australia export to Thailand....

And if you want to find out just how fair this "Free Trade Agreement" read up on the Chatree gold mine owned by Australian mining company Kingsgate.

Only an idiot politician could not see that these trade agreements with 3rd world countries like Thailand are not worth the paper they are printed on.

[MikeN]

4 hours ago, 4MyEgo said:

Australia building trade relations with Thailand, currently run by the military, so much for "democracy", shame on you Australia, shame, the $ always before people oy !

Well complete isolation and sanctions do not work, just look at the “Democratic” Peoples Republic of Korea, aka North Korea. Or Myanmar when it was run by their generals.

[stud858]

I think the oz mining company that had their contract thrown out the window would not like this article very much. 

Yes, oz government supporting rich.. They do a decent job of it though.