Thailand Trade and Economic

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Thailand Trade and Economic

The Thai market is large and diversified and there is an increasing Thai awareness of New Zealand as a source of imports. Thailand is New Zealand's 16^th largest export destination, and 11^th bilateral trading partner.

A Closer Economic Partnership (CEP) between New Zealand and Thailand was signed in Bangkok on 19 April 2005 and entered into force on 1 July 2005. In the initial year of the CEP, from 1 July 2005, New Zealand exports to Thailand increased by 10.3 per cent on the previous year, to NZ$384 million and New Zealand's merchandise exports to Thailand has increased by almost 70% over the past two years, signalling a significant period of growth. The value of Thai merchandise exports to New Zealand over the same period rose by 18%.

In parallel with the CEP, New Zealand and Thailand also signed Arrangements on Labour and the Environment in April 2005. Under both Arrangements, information exchange with a view to technical cooperation activities is well underway. New Zealand and Thailand also signed a Cooperative Arrangement on Customs in June 2005.

Thailand's role as a low cost regional hub has led to investment by New Zealand companies and there are a number of joint ventures or representative offices in Thailand. These include: Air New Zealand (TT Aviation Co Ltd); Australia and New Zealand Banking Group Ltd (ANZ); Fisher and Paykel; Baldwin Boyle Group; CR Asia; Connell Wagner; Fonterra; Hedley Jonh Exporters Ltd (NZ); Joy Sports Co Ltd; Lees Technology Ltd; Massive Software; Mastip Thailand Co Ltd; Nekta (Thailand) Ltd; NCC (New Zealand) Ltd; New Zealand Tourism Board; Pacific Aerospace Corporation Limited; TENCO - NZ Co Ltd; Tait Mobile Ratio Ltd; Thai Universal Office Products Co Ltd; Siam Dyemaster Co Ltd; Sealed Air (Thailand) Ltd; Volastic Co Ltd; Wai Ora Spa; Aviation Services; Patton Aero; Tatou Spa; and Gardyne Holt Thailand

The New Zealand Thai Chamber of Commerce, inaugurated in 1996 in Bangkok, is willing to assist New Zealand commercial interests.