Online shopping predicted to continue strong growth in Thailand

A report by the Boston Consulting Group says up to 40 percent of Thais say they have shopped through social commercial platforms, the highest number in the world. That number is expected to grow next year as Facebook, Line, and Instagram add payment platforms to their sites. Cross border traffic is expected to grow from the current 77 percent according to the CEO of PriceZa. According to the Bangkok Post Lazada, Shopee and JD Central had 60 million cross-border products placed on the platforms last year. By the end of October that had reached 135 million items. Local retailers are encouraged to come up with unique products and offer fast, free delivery to reach a wider audience.

Thailand is in talks with the Hong Kong government to sign a free trade agreement, negotiations will begin in 2021 and the accord implemented in 2022. The two countries have signed Memorandums of Understanding on cooperation on investment promotion, relocation of Hong Kong industries, creative economy, science & technology development, financial cooperation and human resources development. They also agreed to jointly boost bilateral trade from US$15 billion (453.6 billion baht) this year to $20 billion next year.

Work Permit

Any foreigner working in Thailand must obtain a Work Permit before beginning work. While a prospective employer may file an application on the foreigner’s behalf in advance of his starting work, the actual Work Permit will not be issued until the foreigner has entered Thailand in accordance with the immigration laws and has presented himself to receive his Work Permit.

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