On October 24th, 2024, international news reports confirmed that 13 countries, including four ASEAN members—Malaysia, Indonesia, Vietnam, and Thailand—have joined BRICS as official partner nations, but not yet full members.
The official BRICS social media account on 'X' announced the partnerships on Thursday, listing Malaysia, Indonesia, Vietnam, and Thailand alongside Algeria, Belarus, Bolivia, Cuba, Kazakhstan, Nigeria, Turkey, Uganda, and Uzbekistan.
BRICS leaders view these additions as a step towards enhancing global South cooperation and trade, especially with a collective population exceeding 3.2 billion and a combined economic value of $28.5 trillion, accounting for 28% of the global economy. Established to counterbalance Western economic influence, the BRICS bloc has now extended its partnerships to include new emerging economies with rapid growth.
Political risk analyst Halmi Azri pointed out that ASEAN's partnership with BRICS offers broader trade opportunities and strengthens relations with China amid rising global instability, including the Ukraine and Middle Eastern conflicts.
Halmi noted that the ASEAN partners could become influential advocates for regional issues within BRICS, proposing collaborative developments and joint solutions across Asia.
Furthermore, Dr. Oh Ei Sun, a research fellow in Singapore, added that while ASEAN's ties with BRICS may increase China's influence in the region, ASEAN cohesion is expected to remain unaffected.
The step of becoming partners is seen by many analysts as a move forward towards eventual full membership to BRICS.
Arriving passengers queue for immigration counters at Suvarnabhumi airport. Somchai Poomlard
Collection of the 300-baht travel tax may start with air passengers in the first phase, with the system needing at least six months before starting, according to the Tourism and Sports Ministry.
The ministry is revising details of the programme and will submit it for cabinet approval in January, said Tourism and Sports Minister Sorawong Thienthong.
Even though this project was approved by the previous government led by Prayut Chan-o-cha in February 2023, it now requires a consensus from the new cabinet as the administration has changed since the general election.
Mr Sorawong said it is possible collection will start with air passengers, though the tax scheme will need six months after cabinet approval to prepare the system before getting started.
Once the system settles, the second phase covering overland travel will follow, he said.
According to the ministry, air travellers account for 70% of foreign arrivals to Thailand.
The transaction system has been prepared and is powered by Krungthai Bank.
Tourists can pay via a website or an app that is being developed for the next phase, said Mr Sorawong.
Payment would be similar to South Korea's K-ETA registration system, which requires foreign travellers to register and make an online payment before entering the country.
Once the government approves this project, the ministry will start a procurement process to recruit software developers and insurance companies to offer insurance policies for foreign tourists, he said.
The insurance premium for tourists is capped at no more than 60 baht per person, out of 300 baht collected.
The duration of protection is 30 days, as 87% of tourists have an average length of stay of no more than a month, with compensation remaining the same as previous Thai tourist policies, at 1 million baht in the event of death from an accident, and 500,000 baht in case of injury.
Mr Sorawong said the ministry might propose adjustment of the fee collection to 300 baht for all ports of entry to prevent accusations of discrimination, as the previous government set the land and sea arrival rate at only 150 baht.
According to the ministry's study, people who frequently cross borders for trade purposes will not be affected as they can use a border pass to be exempt from the
The baht has been gradually depreciating since last night, moving within a range of 33.40–33.53. This follows the baht's significant weakening the day before, breaking through a resistance level of 33.45 per USD.
BANGKOK, Thailand – A market strategist at Krungthai GLOBAL MARKETS, Poon Panichpibool, revealed on October 22 that the Thai baht opened this morning at 33.52 per USD, weakening from the previous day's close of 33.44. The baht has been gradually depreciating since last night, moving within a range of 33.40–33.53. This follows the baht's significant weakening the day before, breaking through a resistance level of 33.45 per USD.
The depreciation is primarily driven by the strengthening of the US dollar, fueled by market players adjusting their expectations about the Federal Reserve's interest rate cuts. According to the CME FedWatch Tool, the market now sees only a 38% chance of a rate cut in December, lowering expectations for a cut in November as well.
Moreover, the US dollar has gained support as investors position themselves in anticipation of uncertainty surrounding the US presidential election, where recent assessments suggest that Donald Trump has a chance of winning. Additionally, the yen has weakened against the dollar, surpassing the 150-yen mark, driven by the widening gap between 10-year US and Japanese bond yields.
Beyond the strong US dollar, the baht faces additional pressure from commodity transactions, particularly in gold and crude oil, as prices for these assets fell last night. However, the baht's depreciation was slowed near the 33.50 resistance level by some dollar selling from exporters and market players holding short THB positions, anticipating further baht weakness.
Looking ahead, there are few major economic reports today, so the market will focus on central bank policy signals, particularly from the Federal Reserve, Bank of England (BOE), and European Central Bank (ECB). Any changes in market sentiment regarding interest rates from these central banks could impact the dollar and major currencies like the pound (GBP) and euro (EUR).
Investors are also watching for corporate earnings reports, monitoring geopolitical tensions in the Middle East, and following the US presidential election developments.
In terms of the baht's outlook, while it is likely to continue weakening, the drop may be limited as some market participants could sell dollars if the baht moves beyond the 33.50 resistance level. A rebound in gold prices due to election uncertainties or Middle East tensions could also slow the baht's depreciation. However, the combination of a stronger dollar, rising US 10-year bond yields, and cautious global financial markets could lead foreign investors to continue selling Thai assets, adding further pressure on the baht.
If the baht breaks through the 33.50 level, it could test the next resistance zone at 33.65 per USD. On the support side, the baht may find a floor around 33.30-33.40, with significant support at 33.00 per USD, although a baht rebound is unlikely in the near term.
Det är jämförelsesajten Zmarta som står för granskningen av prislistorna på Arlanda. De har gått igenom vad butiker, kaféer, restauranger och snabbköp tar för vatten, läsk, öl, vin, mousserande, bryggkaffe samt latte – före och efter säkerhetskontrollen.
Först och främst är prispåslaget vad gäller vatten och läsk på Arlandas snabbköp närmare 25 procent, jämfört med samma butikskedjor i Stockholms innerstad. Jämfört med dryckespriserna i vanliga livsmedelsbutiker i centrala Stockholm är påslaget cirka 150 procent.
Efter säkerhetskontrollen ligger snittpriset på en 50-centilitersflaska mineralvatten på 34 kronor på snabbköpen och 38 kronor på restaurangerna.
Dyrast är restaurang Uncorked där en flaska kostar 43 kronor. Billigast är Tax Free-shoppen som säljer samma flaska för 25 kronor. De är båda hur som helst dyrare än i en livsmedelsaffär inne i Stockholm, där ligger priset på cirka 13 kronor.
Prisskillnaden på jämförbara alkoholhaltiga drycker inom Arlanda kan vara så stor som 110 procent. Mest plånboksvänligt är det före säkerhetskontrollen. På Itameh Sushi serveras flygplatsens billigaste glas vin för 75 kronor.
Arlandas billigaste mousserande och stor stark går att handla intill, på Pong och Mezefabriken. Här kostar ett glas cava 85 kronor och en fatöl 76 kronor.
Dyrast före säkerhetskontrollen är Sky Horizon. Här kostar en stor stark 129 kronor och ett glas vin 139 kronor. Ett glas mousserande är dyrast på Ritazza, 135 kronor för en liten flaska (20 cl).
På andra sidan säkerhetskontrollen är snittpriserna något högre. Hawaii Poké är billigast i tre kategorier: ett glas vitt eller mousserande kostar 99 kr och en stor stark 98 kronor. Jureskogs har lägst priser för ett glas rött vin, 107 kronor.
Det dyraste vinet står WayCup, Uncorced samt Upstairs & Bar för. På samtliga tre kostar ett glas rött vin 139 kronor. WayCup säljer också det dyraste glaset mousserande: 179 kronor för en liten flaska (20 cl).
En kopp bryggkaffe är billigast på McDonalds, 20 kronor. Dyrast är det på Ritazza och Sky Horizon, 45 kronor. Alla tre ligger före säkerhetskontrollen. McDonalds har också billigast kaffe latte för 27 kronor. Gateau är dyrast, 63 kronor.
Asian Angle | Why Thailand failed to escape the middle-income trap
Despite early success, Thailand's growth has stagnated – as flashy developments siphon resources away from innovation and productivity
Despite being one of the first populous Southeast Asian countries to achieve middle-income status in the early 1990s, Thailand has struggled to escape the middle-income trap. Its gross domestic product per capita last year was about US$7,000 – just over half of China and neighbouring Malaysia.
The Asian financial crisis in 1997-98, which originated in Thailand, savaged the country's economy, destabilised its banks and financial system, and set back its development prospects. It took Thailand nearly a decade to regain its pre-crisis level of GDP per capita. Since then, growth has averaged just over 4 per cent annually – too low for a middle income economy.
Last month, the World Bank released its World Development Report 2024 titled "The Middle-Income Trap". The report highlights the central challenge for economies like Thailand's: while high investments and technology diffusion can elevate a country from low- to middle-income status, advancing to high-income status – with a GDP per capita of at least US$14,000 – requires developing domestic innovation capacity.
Critics say the move to give Thailand's poorest a US$300 cash subsidy papers over structural issues that are holding back the economy
Cooking oil, rice and fertiliser were the first purchases made by 74-year-old Sopak Ruangsang with her 10,000 baht (US$300) cash subsidy, one of the 14.5 million poorest people in Thailand to benefit from an initial round of the kingdom's biggest ever direct handout.
Sopak next paid down debts and helped neighbours in her close-knit community in Isaan region who did not qualify for the cash handout this time around.
"After that, I helped pay for my grandchildren's school fees and that's pretty much all of it gone," she told This Week in Asia.
International tourists are snapped in a picturesque region of Vietnam.
Thailand's initiative to secure a "6 countries, 1 destination" visa policy with her neighbors has received the thumbs-up as desirable. If implemented, cross-border travel would promote tourism and economic collaboration between Thailand, Cambodia, Laos, Malaysia, Vietnam and Brunei. Following the "Schengen principle", a single visa would permit subsequent entry to other cartel member states.
Of course, the devil hides in the detail which has not yet been agreed. For example, Vietnam has notoriously complex immigration rules, whilst Cambodia charges a tourist fee of US$30 for foreigners outside the ASEAN network. Laos has a fee structure for entry at its border posts, but has apparently now agreed with Thailand to abolish charges in the interests of an expected surge in tourism and cross-country trade.
Hoang The Han, director general of Dai Vet International Tourism, said that Vietnam had the most to gain from the "6 countries, 1 destination" policy as the nationals of only 25 countries were currently allowed no-hassle entry. Thailand, by contrast, allows visa-exempt and free entry for 93 countries including all those with large contingents of leisure-seeking tourists. Currently, 70 million visit the region annually, with Thailand and Malaysia taking more than half of the US$90 billion estimated revenue.
Professor Thitinan Pongsudhirak, based at Chulalongkorn University, said that several security concerns still had to be resolved as member states had very diverse immigration-related policies. For example, Thailand will next year introduce a prior, automated entry requirement for all visa-free travel. But the authorization is specific to Thailand. What happens under the proposed policy if a tourist first enters Cambodia but then crosses to Thailand?
The Thai foreign ministry believes that all related concerns can be sorted, but that the initial "6 countries 1 destination" policy will likely be a bi-lateral agreement with Vietnam or Cambodia. A quick resolution across the region is unlikely. Thus, agreement will need to be reached on the data base identification of criminal elements who would be quick to exploit ambiguities in specific countries. Best to make haste slowly.
The Thai political landscape is witnessing yet another ripple as a fresh move by former Democrat MP Charnchai Issarasenarak seeks to have ex-Prime Minister Thaksin Shinawatra returned to jail.
Thaksin, a prominent figure in Thailand's political scenario and father of current Prime Minister Paetongtarn Shinawatra, has come under scrutiny once more for allegedly circumventing his jail term.
Having been granted a royal pardon last year upon his return from a self-imposed 17-year exile, Thaksin's initial eight-year sentence for power abuse was reduced to a single year.
However, it is claimed that Thaksin has not served this year-long sentence in full, avoiding physical incarceration altogether. Instead, he spent six months in a private ward at the Police Hospital before his release on parole earlier in the year, sparking accusations of legal manipulation.
Charnchai is appealing to Thailand's Supreme Court to rule retroactively, asserting that Thaksin had utilised his influence to evade jail, a move that is "categorically against the law."
The crux of the matter lies in whether the Corrections Department legally transferred Thaksin to the hospital. Normally, such a transfer would necessitate prior approval from the Criminal Court, something that allegedly did not occur in this case, regardless of Thaksin's reported "critical illness."
Should the Supreme Court rule in favour of Charnchai's petition, Thaksin could face returning to prison to complete his sentence. Further, Corrections Department Director-General Sahakarn Petchnarin could also face misconduct charges if found complicit.
This development adds another layer to the saga surrounding the Shinawatra family and their ongoing influence in Thai politics. The outcome of this legal challenge will undoubtedly impact the country's political narrative in the coming months, reported Thai Newsroom.
In a significant political development, Newin Chidchob, a key political figure in Thailand, has openly dismissed Thaksin Shinawatra's proposal to legalise casinos. This decision came out during a private discussion between these two influential persons earlier this month.
Thaksin, father of current Prime Minister Paetongtarn Shinawatra, has been trying to gain support for his casino initiative as part of larger entertainment complexes in popular tourist destinations such as Bangkok, Phuket, and Pattaya, where gambling is currently illegal. These proposed casinos would be part of grand entertainment centres aiming to attract tourism and boost the economy.
Despite Thaksin's efforts, Newin maintained a clear stance against the casino plan, expressing concerns over potential social and economic issues, such as debt and addiction among the public. Newin's stance is pivotal since his Bhumjaithai Party holds considerable influence within Thailand's ruling coalition, which includes Thaksin's Pheu Thai Party.
However, it is understood that Newin is not entirely against the notion of building entertainment complexes. He may support such projects on the condition that they exclude gambling activities. This stipulation underscores a key difference in vision between the two political figures.
Thaksin has been under scrutiny for potentially overstepping legal and political boundaries by allegedly wielding undue influence over his daughter's government and coalition partners. In light of this, investigations are already underway by several bodies, notably the Election Commission and Constitutional Court, to examine these allegations further, reported Thai Newsroom an Reuters.
In conclusion, while Thaksin continues to push forward ambitious projects, including the joint Thai-Cambodian initiative in the Gulf of Thailand, his casino plan faces a formidable challenge with Newin's rejection. New developments in this political story could significantly impact Thailand's legal and economic landscape in the near future.
Social media users are outraged after a video surfaced of foreign tourists, allegedly from India, throwing bottles into Pattaya Beach despite warnings.
PATTAYA, Thailand – Social media erupted in criticism after TikTok user @yotin224 posted a video showing a group of foreign tourists, reportedly from India, carelessly throwing bottles into the sea at Pattaya Beach on October 18. Despite being warned in English, the tourists continued their littering behavior, prompting the poster to film the incident as evidence and threaten to contact the police. The tourists eventually left the beach but not before mocking the situation without showing any remorse.
The video, which has garnered over 1.4 million views, sparked outrage among viewers, many of whom expressed their dissatisfaction and called for the tourists to face legal action. Yothin Innoy or Juy, the individual who recorded the clip, stated that he had approached the tourists to pick up the bottles and urged them not to litter, but they ignored his pleas.
TikTok user Yothin Innoy or Juy filmed the incident, capturing the tourists' disregard for cleanliness and threatening to report them to the authorities.Pattaya police are investigating the incident, reviewing CCTV footage to identify the littering tourists and potentially take legal action against them.
Pattaya police have reached out to Yothin for further details and are reviewing CCTV footage to identify the tourists. If they have not yet returned to their home country, legal action will be taken as a precedent. Yothin also urged both Thai and foreign tourists to help keep the beaches clean to ensure they remain beautiful and enjoyable for everyone.
In Pattaya, tensions are rising as foreign mafia members have been harassing restaurant customers and showing blatant disregard for the law.
The latest incident occurred in Soi Pattaya Tai 17, where a foreign man, believed to be of Burmese origin, regularly enters a restaurant demanding money from tourists.
When confronted by the restaurant owner, Ms. Saipirun (surname withheld), the man arrogantly replied that he was asking the customers, not her, showing no respect for the local business.
Ms. Saipirun explained that this individual has been coming to her restaurant daily, causing discomfort among the patrons. "When I asked him to leave, he just shrugged it off," she said. "He claimed that he wasn't afraid of anyone, including the police." On one occasion, she threatened to call the police, but the man confidently retorted that he wasn't afraid of the authorities and encouraged her to call them.
Local residents have also expressed their frustration regarding the ongoing harassment. A concerned Facebook user recently posted about the situation, asking if any agencies could take serious action against foreign beggars who not only request money but also display inappropriate behaviour.
Many have reported similar experiences, noting that these individuals often approach tourists with aggressive tactics, shouting and demanding money in a manner that leaves visitors feeling unsafe.
This isn't an isolated incident. There have been reports of foreign beggars acting like mafia in the area, intimidating both locals and tourists. They often appear intoxicated, shouting for money or food, and have been known to grab doors in an attempt to force entry.
Residents recount instances where these individuals aggressively approached diners, particularly at night, causing alarm for both locals and foreign visitors.
Despite the frequent harassment, law enforcement has been unable to effectively address the issue. Some locals feel that the police are not taking the situation seriously enough, leaving them feeling vulnerable and unprotected. The ongoing presence of these individuals has led to a decline in the sense of security in what is traditionally a vibrant tourist hub.
Local residents and business owners are urging the authorities to take immediate action to resolve the problem and restore safety in Pattaya, a popular global tourist destination.
They are calling for increased police presence in the area and a crackdown on these foreign mafia groups to ensure that Pattaya remains a safe and welcoming environment for tourists and residents alike, reported Daily News.
