It is easy to think that the presence of global trading markets is a recent phenomenon. After all, it is now far easier than ever before to buy and sell commodities across the world.
Yet, people have been selling things from one country to another throughout history. So with this in mind, how does the trading relationship between Thailand and Australia fit into this pattern more specifically, and what are the key Thai commodities that reach Australia?
The introduction of the Thailand-Australia Free Trade Agreement at the start of 2005 ushered in a new era of trading between these countries. Figures from the Department of Foreign Affairs and Trade revealed that the value of traded goods increased from the 2004 figure of $6.8 billion to an impressive $18.9 billion in 2017.
What Thai commodities are sought after in Australia?
The arrival of exciting new products from foreign shores has been the catalyst for some of the biggest developments in the last few centuries. For example, when gold was discovered in Mexico and Peru, it caused inflation to rise six-fold in Europe over 150 years and led to a huge surge in manufacturing.