Trade monitoring
Report by Thailand
Since its previous trade policy review in 2007, the Thai economy has thriven through challenged and crisis and expanded moderately at the annualized rate at 4.5%. Overall, Thailand’s macroeconomic fundamentals have been strong. Despite some risks of political instability and external uncertainties, the economy has performed well as a result of significant growth in investment as well as strong domestic and external demands, in particular from private consumption which continues to grow following higher income and low unemployment rate.
Acknowledgements
The World Trade Report 2008 was prepared under the general direction of Deputy Director-General Alejandro Jara. Patrick Low, Director of the Economic Research and Statistics Division, led the team responsible for writing the Report. The principal authors of the Report were Marc Bacchetta, Chad Bown, K. Michael Finger, Marion Jansen, Alexander Keck, Roberta Piermartini, Michele Ruta and Robert Teh. Trade statistics information was provided by the Statistics Group of the Economic Research and Statistics Division, coordinated by Hubert Escaith, Julia de Verteuil, Andreas Maurer and Jürgen Richtering.
Introduction
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT contracting parties in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Résumé analytique
Le rapport est divisé en quatre grandes sections. La première présente une analyse historique des accords commerciaux préférentiels (ACPr) et décrit la situation actuelle. Elle fournit des données montrant la forte augmentation de l’activité dans le domaine des ACPr ces dernières années, en la ventilant par région, niveau de développement économique et type d’accord d’intégration. Elle donne une estimation précise de la part du commerce entre membres d’ACPr qui bénéficie d’un traitement préférentiel.
Developments in trade policy
Since the last WTO Annual Report, conditions for trade and trade-related policy-making have become considerably more difficult. The effects of the financial and economic crisis affecting emerging markets and of the economic downturn in Japan are far from fully worked through. They are having a serious impact on the pattern of world economic growth, and hence, on trade and on commodity markets (Chapter Two). Although there has been some backtracking in trade liberalization, the multilateral trading system – as seen in the development of trade policies – seemed, in September 1998, to be standing up well to the turbulence in financial and trading markets.