The Treaty of Amity and Economic Relations Between the

Kingdom of Thailand Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Mainland Southeast Asia, Indochinese Peninsula, spanning , with a population of almost 70 mi ...

and the

United States of America The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territo ...

is a

treaty A treaty is a formal, legally binding written agreement between actors in international law. It is usually made by and between sovereign states, but can include international organizations An international organization or international o ...

signed at

Bangkok Bangkok, officially known in Thai language, Thai as Krung Thep Maha Nakhon and colloquially as Krung Thep, is the capital and most populous city of Thailand. The city occupies in the Chao Phraya River delta in central Thailand and has an estima ...

on 29 May 1966. The treaty allows for

American citizens Citizenship of the United States is a legal status that entails Americans with specific rights, duties, protections, and benefits in the United States. It serves as a foundation of fundamental rights derived from and protected by the Constituti ...

and businesses incorporated in the US, or in Thailand to maintain a majority shareholding or to wholly own a company in Thailand, and thereby engage in business on the same basis as would a Thai national. These companies are also exempt from most of the restrictions on foreign investment imposed by the Thai Foreign Business Act of 1999. The treaty in effect allows for an equality of benefits between the countries. American companies that wish to be covered by the treaty should have a minimum of 50 percent American directors and a minimum of 51 percent of shares must be held by American citizens. Under the treaty, Thailand restricts American investment from the following fields of business: #

Communications Communication (from la, communicare, meaning "to share" or "to be in relation with") is usually defined as the transmission of information. The term may also refer to the message communicated through such transmissions or the field of inquir ...

Transportation Transport (in British English), or transportation (in American English), is the intentional movement of humans, animals, and goods from one location to another. Modes of transport include air, land (rail and road), water, cable, pipeline, ...

# Fiduciary functions #

Banking A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

involving depository functions # Exploitation of land and natural resources # Owning

land Land, also known as dry land, ground, or earth, is the solid terrestrial surface of the planet Earth that is not submerged by the ocean or other bodies of water. It makes up 29% of Earth's surface and includes the continents and various islan ...

; and # Domestic

trade Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct excha ...

agricultural Agriculture or farming is the practice of cultivating Plant, plants and livestock. Agriculture was the key development in the rise of Sedentism, sedentary human civilization, whereby farming of Domestication, domesticated species created food ...

products. The treaty also allows for preferential treatment for Thai businessmen applying for

visa Visa most commonly refers to: *Visa Inc., a US multinational financial and payment cards company ** Visa Debit card issued by the above company ** Visa Electron, a debit card ** Visa Plus, an interbank network *Travel visa, a document that allows ...

s to conduct business in the United States. The formalities for their applications are kept to a minimum. Under the treaty the

US Congress The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washingto ...

may not enact discriminating laws against Thai firms. Their profits may be freely remitted to

Thailand Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is bo ...

and their assets may not be expropriated.

References

External links

Amity Treaty Limitations

Treaty of Amity and Economic Relations between the Kingdom of Thailand and the United States of America (export.gov)
{{DEFAULTSORT:Treaty of Amity and Economic Relations (Thailand-United States) Amity Amity Treaties concluded in 1966 Thailand–United States relations Foreign trade of Thailand

See also

References

External links