THAILAND

The most important business partners in Thailand are the United States and China. These
countries are the destinations of most Thai products. United States with a total of 26,546,755
thousand dollars in exports, and China with 29,365,124 respectively.

Imports from these countries to Thailand are of 26,546,755 thousand dollars and with China of
29,365,124 thousand dollars. Given as a result, a trade balance of negative balance with respect to
China, otherwise with the United States where exports are greater than imports.

Thailand's main export and import products are:

EXPORTACIONES A CHINA IMPORTACIONES A CHINA

Machines, appliances and
electrical equipment, and parts
Rubber and its manufactures $ 5.794.902 $ 13.191.245
thereof; recording or reproduction
equipment.
Machines, apparatus and
Machines, apparatus and mechanical
mechanical devices, nuclear
devices, nuclear reactors, boilers; $ 3.706.046 $ 7.607.437
reactors, boilers; parts of these
parts of these machines.
machines.

Plastic and its manufactures $ 2.859.474 Articles of iron or steel $ 2.814.037

Machines, appliances and electrical

equipment, and parts thereof; $ 2.835.632 Smelting, iron and steel $ 2.196.441
recording or reproduction equipment.
Instruments and apparatus for optics,
photography or cinematography, $ 1.792.283 Plastic and its manufactures $ 2.157.054
measuring, control or precision.
EXPORTS TO USA IMPORTS TO USA
Machines, appliances and
Machines, apparatus and mechanical
electrical equipment, and parts
devices, nuclear reactors, boilers; $ 7.068.609 $ 2.419.398
thereof; recording or reproduction
parts of these machines.
equipment.
Machines, appliances and electrical
Aircraft, spacecraft, and their
equipment, and parts thereof; $ 5.495.792 $ 1.974.986
parts.
recording or reproduction equipment.
Machines, apparatus and
mechanical devices, nuclear
Rubber and its manufactures $ 2.894.625 $ 1.697.845
reactors, boilers; parts of these
machines.
Instruments and apparatus for
Fine pearls (natural) or cultivated,
optics, photography or
precious or semi-precious stones, $ 1.171.068 $ 708.501
cinematography, measuring,
precious metals.
control or precision.
Motor vehicles, tractors, velocipedes
Tools and implements, cutlery and
and other land vehicles, their parts and $ 1.058.348 $ 679.513
tableware, of base metal, parts.
accessories.
Source: Trade Map
DIVERSITY CULTURE OF THAILAND

The official language of Thailand is Thai, a Tai-Kadai language related to Lao. The normative
language is based on the central dialect and is written using the Thai alphabet. This writing is an
abugida system evolved from Cambodian writing.

In addition, there are other minority languages spoken in Thailand as the Lao language, a dialect of
the islan, spoken in the northern provinces. The area in which it was spoken was part of the Lao
kingdom of Lan Xang and should not be considered as a dialect of Thai but of Lao. In the south of
the country the Yawi is spoken, dialect of the Malay language that is the main language of the
Muslims coming from Malaysia.

The predominant religion in Thailand, being practiced by 95% of the population, is Theravāda
Buddhism that includes the Thai forest tradition and the Dhammayuttika Nikaya and Santi Asoke
sects. There are minorities of Muslims (4.6%), Christians (0.7%) and other religions, including a
Jewish community dating back to the 17th century. Theravada Buddhism is supported and
supervised by the government. The monks also have some benefits, such as the free use of public
transport.

Thai cuisine is well known for mixing four fundamental flavors, sweet, spicy, sour and salty. Some
Thai dishes try to cook many or all of these flavors. To achieve this, many herbs, spices and fruits
are used.

NEGOTIATION STRATEGIES

The Thai economy is more diversified than that of other countries in the area known as the "Asian
dragons". Compete in sectors ranging from food is one of the world's leading exporters of rice - to
textiles, toys, electronics, machinery and automobiles. The country does not present typical
religious or ethnic conflicts as it happens in other Asian countries. 80% of the population is of Thai
ethnic origin and 15% Chinese. The vast majority of the population is Buddhist. It constitutes a
very open and competitive economy, with a policy favorable to foreign investment and little State
intervention, except in the strategic sectors. Due to its geographical location can be used as a
platform to penetrate the territories that formed the former Indochina. Bangkok is the political,
commercial and financial center. In addition, a large part of the urban population and wealth are
concentrated there.

Personal relationships are very important for doing business in Thailand. Finding the right contacts
is a must for commercial success. Appointments must be arranged at least two weeks in advance
and restructured one day before. The best hours for interviews are at 10:00 am, or after lunch, at
2:00 pm. Due to the difficulties to move around Bangkok, no more than two daily appointments
should be established. Prior to the meeting it is convenient to establish an agenda of topics to be
discussed. However, do not be surprised if they add or delete a point since spontaneity is part of
their negotiation style

It is convenient to speak in the third person, not in your own name, to avoid attitudes that may
suggest arrogance. No feelings of impatience, dislike or frustration should be expressed as they
would be taken as signs of weakness. When negotiating as a team it is essential not to show
discrepancies. It would be interpreted as a lack of harmony that would jeopardize the potential
benefits of the agreement. We must avoid confrontation at any price.

Thais make the concessions in a decreasing phased manner: the most important at the beginning
of the negotiation and the less important at the end. In the haggling phase you should proceed as
if the relationships were more important than the benefits that are intended to be achieved. We
must adopt an attitude of cooperation, not confrontation. It is also advisable to avoid any behavior
that could be interpreted as a sign of superiority.

Thai law does not provide for the exclusive distribution or representation of foreign companies.
Relations with foreign suppliers are formalized through purchase agreements. Registration of
trademarks and patents is essential. Thailand together with China is the country where more
products are falsified, many of which are shipped to Europe. For processing it is mandatory to hire
the services of a local lawyer. In drafting contracts you have to be very strict in the essential
aspects (quality standards, payment terms, delivery times) and more flexible in minor matters.

ACTIONS TO AVOID

Never touch or pass anything over Agilen's head. In Thailand, the head is considered sacred

Never pass anything with your left hand.

Do not put your hands inside your pockets when talking to someone.

Never point with your hand, neither with your fingers.

Do not put your arms on the back of the seat Where another person sits

Do not move your hands too much when you speak because you understand that the person is
upset.