Thailand has secured the 32nd position among 65 countries in the 2024 Global Trade Modernization Index (GTMI), as confirmed by Montri Mahaplerkpong, the chairman of the International Chamber of Commerce (ICC). Growth in international trade during the first quarter fell below expectations, mainly due to regional instability, notably the unrest in Myanmar.
The country’s digital trade performance, rated as moderate, positioned Thailand 32nd on the GTMI scale and 3rd within ASEAN, trailing Singapore and Malaysia. The GTMI evaluates various aspects of digital trade readiness across five categories: paperless trade, trade openness, regulatory environment, business readiness, and human capital.
Thailand has made notable advancements in gearing up for digital trade, encompassing digitally delivered and ordered trade to enhance industry efficiencies, revenue sources, and operational cost reductions. Within the ASEAN region, Thailand excels in reducing paper usage in trade (ranked 3rd), trade openness (ranked 6th), business readiness (ranked 3rd), human capital (ranked 4th), and regulatory capabilities (ranked 3rd).
Mr. Montri emphasized that Thailand possesses the potential to leverage technology to enhance international trade competitiveness significantly. The adoption of digital technologies by the private sector is crucial, alongside the implementation of laws like the Electronic Bill of Lading to support digital tools in international trade. Initiatives such as the National Single Window and e-Phyto certification system aim to elevate trade speed, global compliance, transparency, and efficiency.
Notably, Singapore secures the top position in the GTMI rankings, with the Netherlands, Germany, Hong Kong, and other countries following closely behind.
