Issue 24

Horizon Thailand speaks to the President of the Thai-Canadian Chamber of Commerce (TCCC) about business opportunities for Canadian investors in Thailand.

What are the main industries Canada has brought to Thailand?
Canada is a smaller trading partner with Thailand however recorded Canada-Thailand trade was about CAD 3.4 billion in 2012. Due to several factors, including the global slowdown, in 2013 trade dropped to approximately CAD 2.4 billion. Figures for 2014 are not yet finalised but the first nine months showed a modest increase. The goods Canada does send to Thailand are wood pulp, paper, fertilisers, precious stones and metals, mechanical and electrical products, cereals and other Canadian products. Canadians in Thailand have been successful in several sectors including manufacturing, education, consulting, seafood exports, insurance, media, travel/leisure and trade facilitation.

How does the TCCC promote business and trade between Canada and Thailand?
The TCCC actively works with both the Canadian Embassy and private business organisations such as the Canada ASEAN Business Council, the Board of Trade of Thailand and the BOI. We also support initiatives such as the recent Thai Board of Trade mission to Vancouver and Toronto. The TCCC accompanied the delegates to Canada and some of our members participated as well.

 How do you support your members doing business in Thailand?

We often represent our members’ interests in identifying trade opportunities by holding many events throughout the year. Monthly lunches provide current knowledge of what’s happening in Thailand, Canada and the Asian region. Numerous networking and matching events give our members an opportunity to meet like-minded people and often result in fruitful partnerships. Through joint initiatives and cooperation with the Canadian Embassy, our members have frequent, direct and informal access to the Canadian government.

What are the benefits of doing business in Thailand as a foreigner?
Thailand is ranked highly in terms of doing business, in fact in the World Bank’s Ease of Doing Business [Report] Thailand rates only slightly behind Canada and its rank has been steadily improving over the years. The country has always shown a high degree of flexibility in terms of accepting and allowing foreigners to start up and continue business, with relatively little risk of regulation change and a high degree of security.

What does the TCCC have in the pipeline for 2015?
The TCCC is looking to increase its cooperation with other foreign chambers of commerce in Thailand, while at the same time working with the [Canadian] Embassy to provide additional cooperative engagement with the local Canadian business community. In March the chamber will help coordinate the widely attended CABC Business Forum that will be held in Bangkok for the first time this year. Our mainstay events are being refreshed and promise to be better than ever.

How do you think the AEC will affect Canadian businesses in Thailand?
The AEC, which will come to life at the end of 2015, will offer a single ASEAN market access of more than 600 million people to Canadian businesses. The AEC blueprint, although perhaps not fully realised by the 2015 deadline, should see harmonised cross-border trade and offer free movement of finances, people and products. As Canadian business often tend to focus on trade and business with the US for reasons of familiarity, market size and geographic proximity, the sheer size of ASEAN and its bountiful opportunities should prove to be quite attractive for Canadians.