The Road to Trade Winds ASEAN: Thailand
January 25, 2023
John Breidenstine is the ASEAN Regional Senior Commercial Officer at the U.S. Embassy in Thailand.
This is the second piece in a blog series about different markets that will be featured during Trade Winds 2023.
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U.S. businesses looking to grow their bottom line through export sales would be well advised to consider Thailand, the largest economy in mainland Southeast Asia and one that is increasingly important globally. Central to the future of the Indo-Pacific Region, Thailand is the United States’ oldest friend, partner, and ally in Asia, with this year marking the 190th anniversary of diplomatic relations.
With overall bilateral trade jumping 50 percent over the past two years, Thailand is the 26th largest export destination for the United States and saw $12.7 billion in U.S. exports in 2021, 13 percent more than in 2020. In turn, the United States is Thailand’s largest export market, followed by China, Japan, and Vietnam. As such, the trade and investment relationship between our countries is on the up, with numerous U.S. companies pursuing opportunities across a variety of sectors.
U.S. small, medium and large businesses in the energy, digital, infrastructure, healthcare, aerospace and defense sectors – among others – can find success in Thailand’s market if they offer innovative and high-quality products and work closely with local distributors and partners. There are numerous reasons that Thailand is an outstanding place to do business: it has an open culture; low cost of living; a large, skilled, and adaptable workforce; a strong and diversified manufacturing base; and a range of government incentives for businesses.
Fittingly, the International Trade Administration chose Bangkok, Thailand, as this year’s location for the Trade Winds Trade Mission and Business Development Forum, March 13-15. Well over 200 participants are expected to attend and take advantage of this dynamic networking opportunity. The Business Development Forum will feature meetings with U.S. commercial diplomats from over 20 Asian countries, business-to-business matchmaking meetings, and engagements with Thai government officials, all of which will provide U.S. companies with information and insight into potential opportunities and partnerships across a variety of markets. Concurrently, a SelectUSA Tech Seminar on March 14 will give Asia-Pacific, early-stage technology companies the practical information and tools that they need to launch their businesses in the United States. On March 15, startups will pitch before a panel of judges to win an opportunity to attend and present during the May 1-4 SelectUSA Investment Summit in Washington, DC.
To sign up to attend the Trade Winds Mission and Business Forum in Bangkok, go here, then click REGISTER. When prompted, select Business Forum Only. The registration fee is $750 per attendee.
Beyond Trade Winds, there are several other trade events for U.S. companies interested in exploring Thailand. Please reach out to your local Commercial Service office for further information and opportunities to explore Thailand and other markets across Southeast Asia.
Other Upcoming Trade Events in Bangkok
March 13-17, 2023: The Asia-Pacific Association for International Education Conference offers delegates from around the world the opportunity to share best practices and learn more about the innovative ways in which Asia Pacific universities are partnering across the region and with the world.
May 17-19, 2023: Future Energy Asia will convenes the world’s national gas, LNG, power and renewable energy leaders in person in the region’s most important industry platform to engage in strategic dialogues that will help shape the energy transition and transformation of the next decade.
May 24, 2023: The Smart Cyber Security Summit is a complimentary, invite-only exhibition and conference tailored for senior decision makers and end-user professionals.
June 14-17: ProPak Asia is the region’s number one international trade event for food, drink, and pharmaceutical processing and packaging technology.