Thai-African business opportunities 2021
The colors of Africa: Markets, investments, cooperation
Thailand is looking at an enhanced strategic partnership with African countries, which could serve as a mutually meaningful collaborative framework for the long run.
Inbound and outbound trade and investment: Thailand is a highly attractive jurisdiction for African exports, while African jurisdictions are preferred locations for Thai outward investments. Currently, seven African Embassies exist in Thailand from Egypt, Kenya, Libya, Morocco, Nigeria, Sudan, and South Africa. In addition, 25 African honorary consulates are operating in Bangkok. Thailand has embassies in Marocco, Egypt, Libya, Senegal, Nigeria, Kenya, South Africa, and Mozambique, a consulate in Madagascar and twelve honorary consulates throughout Africa.
Responsibility for African countries lies with the Thai Foreign Ministry’s South Asia, Middle East, and Africa Affairs Department aiming in a new policy of Thai–Africa partnership for sustainable development. Thailand’s International Cooperation Agency (TICA) is serving as a key organization on behalf of the Thai government. Launched in 2005, the New Asian–African Strategic Partnership (NAASP) framework offers additional business opportunities.
As part of its look west policy, Thailand shows high efforts to break into African markets by outbound investments. The land of smile is ASEAN’s biggest trader with Africa and the biggest supplier of rice to the continent. In terms of investment, it is ASEAN’s third-largest investor in Africa.
African key imports to Thailand include jewelry, gemstones, and citrus fruits. Key exports to Africa are rice, cars, automotive parts, textiles, plastic parts, seafood, and canned fish. Dedicated areas of cooperation between Thailand and Africa are agriculture and rural development for poverty reduction, sufficiency economy and alternative development, development of community-based economics, public health, natural resource development and energy, science and technology, trade and industry, tourism promotion, and promoting education and human resource development.
Professional services offer from Bangkok for Thai-African markets and investments
PUGNATORIUS Ltd. is the Bangkok-based specialist provider of legal services and tax advice on foreign investments in Thailand’s manufacturing and service industries as well as property acquisitions and developments. Sophisticated solutions in a complex legal environment. Serious legal and tax advice in the land of smile.