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Baht/$ 33.64/67
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15,200
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INVESTMENT
WICHIT CHANTANUSORNSIRI
Thailand ranks relatively high in terms of the country's ease of doing business and trade, according to a global survey by the World Bank.
But the country lagged in terms of trade policy, ranking 71st out of 125 countries in 2006, while scores for the external environment also were poor at 98th out of 125 countries, according to the 2008 World Trade Indicators report.
Thailand's ease of doing business was quite high, at 15th out of 178 countries, while in terms of trade facilitation, the country ranked 31st out of 151 countries.
Gianni Zanini, lead economist for the World Bank Institute, said Thailand's exports were more diversified than those of other regional competitors such as Vietnam, Malaysia, Indonesia and China.
Thailand's top-five exports accounted for only 26% of total exports in value terms, indicating a broad diversity in exports.
The trade report and database released last week by the World Bank showed most developing countries had improved trade policies in 2007.
Over the past decade, countries with lower barriers to trade tended to have stronger, more consistent export performance.
Developing countries that have cut import restrictions since 2000 include Egypt, which has cut its average MFN (most-favoured nation) tariff to 17% from 47%, the Seychelles, which has cut tariffs to 8% from 28%, India, down to 15% from 32% and Mauritius, cut to an average 3.5% from 18%.
The World Bank noted that liberalising services could also have potential large benefits.
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