8
7 July 1982]
MINUTES OF EVIDENCE TAKEN BEFORE
[Continued
2. Thailand is an open economy dominated by agriculture which employs about 70 per cent of the labour force but provided only 25 per cent of GNP in 1980. It is self-sufficient in basic foodstuffs and is a net exporter of food, particularly rice. Thailand's developing industrial capacity includes secondary processing of agricultural products, manufacture of textiles and garments; and a growing output of consumer electronics goods. Thailand's accession to the GATT is currently being negotiated having participated as a non-member to the 1973/79 Tokyo Round, and will complete ASEAN membership. Desite the formidable problems on its borders, which have been a constant drain on the economy and have accentuated the political pressures for successive Governments, Thailand has maintained growth of GNP averaging 7.6 per cent for more than 20 years. From a peak of 19.7 per cent in 1980, inflation was reduced to 12-7 per cent in 1981. Among the primary aims of the Fifth Five Year Development Plan (1982-86) are land development and the maximisation of indigenous energy resources, in particular the large reserves of natural gas in the Gulf of Thailand which have promoted the huge industrial/urban Eastern Seaboard Development to the south east of Bangkok. Under this Development Plan there will be substantial project and investment opportunities in fields such as power generation, gas utilisation and infrastructure development. There is also likely to be a significant demand for chemicals, machinery and transport equipment.
3. In 1980 and 81 three UK Ministers visited Thailand including the Minister for Trade, Mr Rees, as part of his ASEAN tour in September 1981. The then Foreign Secretary, Lord Carrington, visited the country on his tour of ASEAN in January 1982.
In April 1982 the Thailand Prime Minister, General Prem Tinsulanonda, visited the UK accompanied by the Thai Ministers of Foreign Affairs, Industry, Agriculture and Commerce and over 60 officials and businessmen.
ANNEX C-I
UK TRADE WITH ASEAN COUNTRIES 1980
US $ Million
ASEAN Imports
ASEAN Exports
From
UK
Trade of
UK
World
Share %
To UK
World
UK Share %
Singapore Malaysia Indonesia
811
24013
34
500
19377
21
585
10840
5+
357
13005
24
290
12380
24
137
22564
Thailand
253
9378
21
118
6406
2
Philippines
189
8185
24
146
5711
21
Total ASEAN
2128
64796
34
1258
67063
2
Trade of
World (Sbn)
Comparative World Imports
Comparative World Exports
From UK
Total
UK Share %
To UK
Total
UK Share %
109
1936
51
106
1856
54
SOURCE: IMF Direction of Trade Statistics 1981.
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