An Analysis of the Current Business Environment in Thailand

Although Australia remains geographically isolated from the world, international trade still remains a main factor that allows Australia’s economy to prosper. Australia’s long history of trade has created tight links and connections with other nations. Being a member of many worldwide organisations, Australia has produced many free trade agreements with countries around the world. However, recently Australia has seen a change in the composition and direction of its trade and has developed a strong trade link with the Asia-Pacific Region.

Australia’s lack of international competitiveness as a result of geographical location and small population, as well as the decline of the manufacturing industry to overseas low cost producers, with the problem being further increased by the high AUD exchange rate, as a result of the mining boom. The fall in domestic production has led to an increase in imports and a fall in productive innovation compared to advanced economies has led to a rise in CAD.

Therefore, it is important to increase our knowledge of Asian cultures, languages, negotiation styles, and business practices to further develop business relations that are favorable to the continued growth and development of our own country and the global marketplace. The Asia countries make a massive impact on global economics and trade relations which also affects the political aspects related to international relationships.

The Australian exception could be related to the relative proximity of the fast growing Asian developing countries such as China which can bolster Australian’s economic activities. It could also be related to the relative good health of Australia’s financial market before the financial crisis that made it more resilient to it. Or it could also be that the Australian government’s actions were efficient at counteracting the financial

Through export trade deals, Australia will be able to provide new business opportunities, for people in different industries.

Economic Considerations: Thailand is great developing country because of the smart economic policies but political environment is not stable so there is effect for investors to pay attention much to invest.

Australian-Indonesian relations are the foreign relations between the two countries, whether economically, politically, legally or socially. Australian-Indonesian relations involve an interaction in foreign policies between the two nations (Wolfsohn, 1951, p. 68). As long as Indonesia is Australia 's closest and largest neighbor, they are bound to have great international relations. These relations began as early as the 17th century and had only become enhanced with time (Daly, 2003, p. 397). The relationship has been defined by a conjoint growth trade of up to $14 between the years 2011-2012 which reports an increase from the previous economic year (Mark, 2012, p.402). These countries are members of various trade deals such as the ASEAN Regional Forum in addition to having close ties with education, defense, and leadership. Australia 's relationship with Indonesia is crucial, and lack of such could severely bruise the economy, and hence they need to keep united by ensuring the use of widespread media with beneficial input. Australia interacts with Indonesia in a way such as sporting activity, tourism, education, economic policies, youth exchange programs, cultures and above all their diplomacy (Okamoto, 2010, p.241).

For example, with consideration to Australia’s bi-lateral relationship with Indonesia, scholars argue the relationship experiences destabilisation due to the two countries not ‘knowing’ each other. Research has also identified a number of people from Asian countries have little knowledge of Australia, except through the focus of koalas and kangaroos., while some Asian minorities consider Australia as white and racist. If Australia wants to maintain strong relations and prosperity in the Asian century, Australia should be prepared to use soft power tools particularly through the arts and Department of Foreign Affairs and Trade to promote Australia and create an image of what Australia

The second key national interest of Australia is the economy. Australia’s capital, jobs, standards of living, technological innovations and social advances rely substantially on exports and commodity values within Southeast Asia and the Pacific (Department of Foreign Affairs and Trade 2016a). The stability of South East Asia and the Oceania

And Thai government should improve standard legal and institutional framework, enhancement of good governance and transparency, capacity building, ensuring fair competition, balanced liberalization and sustainable development, full participation of the host economy

The United States has also jumped at this opportunity. As of now, Vietnam is the country’s 29th ranked trading partner, a number that is expected to increase in upcoming years. This comparative analysis highlights some elements of Vietnam’s current business structure and is benchmarked to the United States. The first section of this analysis covers key insights in the labor market of both countries, followed by differences in economic sectors, then it will cover some key findings in trade relations, and finally an overview of some similarities and differences in business culture and etiquette.

Improving the value of exports is the primary goal of Thailand’s international trade policy. The Association of Southeast Asian Nations (ASEAN) Economic Community (AEC) was established as an effective cooperative strategy for gaining market advantages through regional market integration. Thailand aims to capitalize on trade agreements by networking and entering partnership with neighboring countries. Currently, Thailand’s cross-border trade in the Greater Mekong Subregion (GMS) plays a crucial role in globalization, because it facilitates rapid and convenient trade and investment. Countries seek new export markets to disperse the risk of domestic market concentration, as evidenced by the economic recessions affecting

Best Business Environment in Asia Pacific and world-wide (Country Forecasts, December 2009, Economist Intelligence Unit); §

The information in the table highlights the impact of Asian foreign markets and the growing. China and Japan have been indifferently on the top position and has seen to takeover Unites States in the years stated (dfat.gov.au., 2016). There is no percentage, so the drawback lies in accurate comparison between countries amongst the distribution of export markets.

Japan has a relatively stable political and legal environment which reduces the risks associated with entering the foreign market. The political system is a democratic system, with a Westminster form of government similar to Australia, which is favourable for western cultures when conducting international business. The legal environment on the other hand, is built on the foundations of the European Civil Law system with an English-American influence. Therefore Australian businesses must understand the differences when conducting business to ensure the