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Benefitting from an export-oriented, industrialised economy and an ideal geographic position with proximity to Japan, China and high-growth ASEAN members, trade and investment in Thailand has expanded steadily in recent years on the strengths of its agricultural, automotive, electronics and textiles exporters. The country is more economically liberalised than some of its larger ASEAN neighbours, and although foreign direct investment inflows have trended downward after hitting an all-time high in 2013, the government has implemented several reforms reducing taxes and incentivising investment in high-priority industries. These efforts fit into the broader Thailand 4.0 and Cluster Policy economic development strategies, which seek to promote manufacturing along the country’s Eastern Economic Corridor. This chapter contains interviews with Apiradi Tantraporn, Minister of Commerce; Hiroshige Seko, Minister of Economy, Trade and Industry of Japan; Lim Hng Kiang, Singapore Minister for Trade and Industry (Trade); and Kalin Sarasin, Chairman, The Thai Chamber of Commerce and Board of Trade of Thailand.

Thailand has benefitted from decades of rapid industrial development to become an upper middle-income economy, with GDP growth averaging more than 7% from the 1950s to the 1990s. However, more recent decades have been marked by an ongoing struggle to escape the middle-income trap. Growth sank in 2014 following a military coup, although political stability and solid macroeconomic fundamentals saw the country’s economic recovery continue in 2016, as GDP growth rose to a three-year high and export receipts increased for the first time since 2012. This chapter contains interviews with Somkid Jatusripitak, Deputy Prime Minister; Porametee Vimolsiri, Secretary-General, National Economic and Social Development Board; and Yol Phokasub, President, Central Group.

On October 13, 2016 His Majesty King Bhumibol Adulyadej passed away at the age of 88. He was the world’s longest-serving head of state and the longest-serving monarch in Thailand’s history. His passing was mourned by many. His Majesty had been monarch since 1946, and had presided over his country during a period of enormous change. In late 2016 King Maha Vajiralongkorn said, “No matter what problems we may face in our country, we believe that if we work together, we can overcome and alleviate any situation.” He now sits on the throne at this time of great change, with the need for reform and reconciliation at the forefront.

Trinidad and Tobago’s manufacturing sector is the largest in the English-speaking Caribbean. In 2016 it was expected to represent 7.8% of overall GDP, with total output worth an estimated TT$8.29bn ($1.2bn), according to government estimates. This made it the third-largest sector of the economy after the energy and services industries. Approximately 47,700 people, or 7.3% of the total active labour force, are employed in manufacturing. The country holds several competitive advantages, including cheap electricity and natural gas, two international ports that are well served by shipping lines, good availability of local or imported raw materials, a captive domestic market and relatively easy access to regional markets through trade agreements. This chapter contains an interview with Dominic Hadeed, Managing Director, Blue Waters Products.

Following another positive year of continuing profitability and financial strength in the face of challenges related to a wider economic slowdown, in 2017 Trinidad and Tobago’s banking sector is poised to play a key role in supporting new growth. While the demand for credit has slowed somewhat in light of volatility in oil prices, liquidity in the banking system has remained high. Executives in the sector expect the economy to begin rebounding in late 2017 and into 2018. In the meantime, they are seeking to maintain a competitive edge and increase their readiness to deal with the increasing pace of technological change. This chapter contains an interview with Anya Schnoor, Managing Director, Scotiabank; and President, Bankers Association of Trinidad and Tobago.