Steve Buckley

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Medilink East Midlands UKTI Video Conference
Business with the ASEAN Lifescience Healthcare
Sectors Wednesday, 11 February 2009

Steve Buckley Director of Trade
Investment British Embassy, Bangkok
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Thailand Overview

• Thailand - the country
• Politics
• Economy
• Method of doing business
• Questions Answers

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Thailand - The country

• Area 513,115 sq. km. (similar to France
• Population 63.04 million (2007)
• Workforce 36.94 million (2007)
• Unemployment 1.4 (2007)
• Religion 95 Buddhist
• Literacy Rate 93.8
• Founding Member of ASEAN

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Politics

• Constitutional Monarchy
• New Government formed Dec 08
• Still Politically Uncertain?
• Political uncertainty not new to Thai Businessmen
  
• Populist Policies To Be Continued

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Economy
Thailands economy has recovered from the effects
of the 1997 crisis.

Real GDP Growth ()
7.0
5.1
4.5-6.0
FINANCIAL CRISIS
4.8
4.5
e estimated f forecast
-10.5
Source NESDB
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Economy

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Economic Structure

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Thailands Exports

Source BOT
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Thailands Imports
Thailands Import Markets in 2007

Source BOT
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UK THAILAND TRADE INVESTMENT

UK Trade in Goods with Thailand 2002-2007 (
million) 2003 2004 2005 2006 2007 2008 Expor
ts 573 639 642 568 598 655 Imports 1,687 1,802 1
,750 1,964 2,017 2,113 Total 2,260 2,441 2,392 2
,532 2,615 2,768 Latest figures up to
November Despite all the recent problems in
Thailand two-way trade still remains very healthy
UK exports up 19 over same period for 2007 UK
imports up 14 over the same period for 2007 UK
has consolidated its position as the leading EU
investor in Thailand (157 projects approved by
the BOI over the last 6 years - average of one
every two weeks) (Examples Tesco, Standard
Chartered, BG, Triumph Motorcycles,
Boots) 670-strong British Chamber of Commerce
Thailand. Oldest and most active Foreign Chamber
in Thailand.
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THAILAND Outlook

• New government ability to instil confidence
  most important
• Early Government announcements appear business
  friendly
• Domestic economy (consumption and investment) to
  recover?
• Exports unlikely to repeat 2008s excellent
  performance (due to strong currency and fragile
  global economy)
• Expect boost in government spending
• Energy
• Telecom 3G
• Dual-track railroads (2.9bn)
• 9 new Bangkok subway routes (7.8bn)
• Irrigation networks (1.4bn)
• Funding / investment boost to the upcountry /
  SMEs
• But coalition government could have fragile
  teamwork.

to (1) prop up GDP (2) take advantage of
strong currency (3) new government needs to
show performance
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BUSINESS OPPORTUNITIES

• KEY METHODS OF DOING BUSINESS
• Initial research is crucial to assessing your
  prospects.
• Business relationships - Thais businessmen are
  your partners.
• Regional presence.
• Willingness to provide local technical support to
  partners and their customers.
• Take plenty of business cards and corporate
  literature. Have the reverse translated into
  Thai. It usually creates a very good first
  impression.
• Do not expect to do business immediately or
  necessarily on the first visit to Thailand.

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www.uktradeinvest.gov.uk