Trade policy in Indonesia and Thailand

Vol: 
2021/23
Author name: 
Hal Hill
Jayant Menon
Year: 
2021
Month: 
October
Abstract: 

This paper provides an analytical survey of trade policy in Indonesia and Thailand, in the context of the key findings of the WTO’s 2020 Trade Policy Reviews. These are historically dynamic economies that are integrated within the outward-looking ASEAN protocols and the China-centred East Asian trade and investment networks. Over the past decade there have been no major changes in the two countries’ trade and commercial policy settings, with Thailand maintaining its more open economic settings and Indonesia continuing its more hesitant embrace of globalization. The major drivers of domestic policy settings have therefore been global factors, including the continuing rise both of China in the regional and global economies and of the increasingly China-centred global supply chains. Both WTO reports provide comprehensive examinations of trade patterns and policies, although there is room to strengthen the analytical foundations of future reports.

Key words: Indonesia, Thailand, ASEAN, regional integration, trade policy, global supply chains.

JEL classifications: F13, N45, O24

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