Thailand’s major natural resources are minerals, this includes fluorite, gypsum, lead, lignite, natural gas, rubber, tantalum, tin, and tungsten. As of 2003, the main mineral export was gypsum. Thailand is the world’s second-largest exporter of gypsum after Canada, even though “Thai government policies limit gypsum exports to prevent price cutting.
In 2003 Thailand produced more than 40 types of minerals with an annual value of about US$740 million. Minerals of substantial value to the domestic economy included lignite, gypsum, salt, iron ore, lead, manganese, limestone, and marble” (Hays, J. (n.d.). NATURAL RESOURCES IN THAILAND: MINERALS, TIMBER AND TEAK. Retrieved from http://factsanddetails.com/southeast-asia/Thailand/sub5_8h/entry-3317.
html). Due to Thailand’s lush rainforests and tropical climate, it is one of the world’s leading producers of rice, despite the fact that the yield per hectare is low. “In the early 1990s, Thailand annually produced approximately 18.5 million metric tons of rice. The second most valuable crop is rubber, which is raised mainly on plantations on the Malay Peninsula. Also, in the beginning of 1990s, approximately 1.4 million metric tons of rubber were produced each year.
Other important crops included cassava (21.1 million metric tons), sugarcane (46.8 million), maize (3.
6 million), pineapples (1.9 million), coconuts (1.4 million), and kenaf (161,000). Livestock totaled at about 6.8 million cattle, 4.8 million buffalo, 5.1 million pigs, and 153 million chickens” (Hays, J.
(n.d.). NATURAL RESOURCES IN THAILAND: MINERALS, TIMBER AND TEAK.
Retrieved from http://factsanddetails.com/southeast-asia/Thailand/sub5_8h/entry-3317.html).Fishing is rapidly growing in importance to the Thai economy. In the early 1990s, the annual catch included 3.1 million metric tons of prawns, fish, and shellfish, and exports of ocean products, particularly prawns, accounted for about 10 percent of export earnings.Unique and advantageous Thai resourcesThailand was once a major exporter of tropical hardwoods and was exceptionally famous for its unique teak. After logging had seriously hollowed out Thailand’s rainforests, teak was made illegal due to deforestation.
“Thai government banned both timber exports and commercial logging in 1989 and is now a net importer. Much of the logging that goes on in Thailand is illegal. Thais have also been heavily involved in illegal logging in Cambodia and Myanmar”(Hays, J. (n.d.).
NATURAL RESOURCES IN THAILAND: MINERALS, TIMBER AND TEAK. Retrieved from http://factsanddetails.com/southeast-asia/Thailand/sub5_8h/entry-3317.html).Elephants provided an absolute advantage in the transportation of teak in Thailand. “One elephant can usually drag a small log on land or several logs through the water with the chains harnessed to its body.
Bigger logs can be rolled by two elephants with their trunks or lifted off the ground by three if they use their tusks and trunks”(Hays, J. (n.d.). TIMBER AND LOGGING IN SOUTHEAST ASIA.
Retrieved from http://factsanddetails.com/asian/cat63/2sub6/entry-2832.html). Instead of using polluting machinery, the Thai used the more eco-friendly and efficient animal to transport their goods. Elephants didn’t need roads and can maneuver through all kinds of terrain. Elephants in Thailand may be out of work soon as the teak forests are depleted, they might be transferred to the Pacific Northwest were they can use as an alternative to expensive machinery. Well-known Thai products A world-recognized product that originates from Thailand is their silk, it is produced from the cocoons of Thai silkworms.
Thailand’s silkworm farmers cultivate both types of the domesticated silkworms that produce commercial silk. Eri silkworm produces a matte Eri silk, and the Bombyx mori makes the better known, glossy mulberry silk. The latter is by far the larger silk producer of the two.
Thai silk has an absolute advantage because the silkworms used are native to the country of origin. Also, there is a specific cloth weaving process that is only really practiced and taught in Thailand (Silk. (n.d.). Retrieved from http://www.newworldencyclopedia.org/entry/Silk)Thailand is globally known for their lovely cold-pressed, extra virgin coconut oil products as well.
There are several popular Thai brands such as AgriLife and Thaipure. They the world’s sixth largest producers of coconuts, the rest are found in tropical Asia. There isn’t anything particularly special or advantageous about Thai coconut oil besides its lengthy refinement processes. The quality and the locality of the ingredients are just as good the coconut oil that is found in India or the Philippines. The Thai are also renowned for their beautiful brass buddha sculptures. I believe that these products would have an absolute advantage, for they originate from the country with the largest Buddhist populace in the world. A passionate population towards a religion would fuel artistic innovation, creativity, and ultimately, a better product. Thailand’s international business advantages “A 2006 survey conducted by the Japan External Trade Organization (JETRO) showed that Thailand was the most optimal and advantageous location for establishing a production or sales base in the coming 5-10 years.
Thailand has quality international schools, an excellent health care system and friendly cooperative people. The country boasts the largest growth market in Asia. It has recently attracted a great deal of foreign investment for, it is one of the largest Asian economic leaders and one of the fastest-growing economies in the area. Thailand has a strategic location at the heart of Asia; home to what is regarded today as the largest growing economic market.
Its location is excellent, Thailand serves as a gateway to Southeast Asia and the Greater Mekong sub-region, where newly emerging markets offer great business potential. From Thailand, it is convenient to trade with China, India and the countries of the Association of Southeast Asian Nations (ASEAN), which has a cumulative population of more than 500 million. Thailand is one of the least expensive places to fly to in Asia” The country has strong business ties with China Thailand has excellent infrastructure as well as world-class facilities in many resort towns.
Property is far cheaper in Thailand than other countries. The increase in overseas interest in property purchase has helped to give them an economic recovery. They have no capital gains tax for private investors and low ongoing taxes. Thai foreigners are now regarded by the government as a big investment opportunity in Thailand.Thai inventions Sriracha hot sauce was first produced in the Thai coastal city of Si Racha in Chonburi Province. It is made from chili peppers, distilled vinegar, garlic, sugar and salt and is served as a condiment, especially with seafood dishes. Thailand is also known to be the proud inventor of modern prosthetic limbs.
Dr. Therdchai Jivacate was a Thai orthopedic surgeon that made use of polyethylene to manufacture high-quality prosthetic limbs at low costs and changed the standard material used in prosthetics. The Tuk Tuk auto rickshaw is a widely used urban transportation in Bangkok and other cities in Thailand. This three-wheeler is well designed with a low emission engine that runs on LPG. This vehicle is suitable for those traveling with a big group for short distances.
The drivers also use tuk-tuk to transport fresh produce or other goods around the city. This rickshaw is the most recognized symbol of Thailand and is only commercially manufactured in Thailand. What Canada gains from Thailand’s competitive advantagesCanada can’t really compete or learn from Thai business advantages. The products that Thailand produces because, their exports, resources, expertise, and climates are so vastly different. The only slight lesson that Canada can take away from Thailand, is to not exploit forestry like the Thai overexerted the teak.
Canada has taken an active role in assisting Thailand’s economic, social and democratic development. Presently, Canada’s efforts focus on strengthening human rights and good governance; particularly in the three southernmost provinces and among Burmese refugee populations along Thailand’s western border. Canada is recognized as a leader by local residents in the Muslim-majority south in promoting human rights and encouraging dialogue. Our country has “supported initiatives to promote discussion on strengthening democracy and human rights in Thailand. The Embassy has supported participation by Canadian speakers in several conferences on topics such as constitutional reform, transparency and accountability, LGBT rights, and human security”Canada is doing so in order to invest and strengthen their relations with Thailand. Our nation sees Thailand as a good international business opportunity.
They are a quickly developing nation and a potentially large trading partner.