Page 32 - Introduction to Investment Laws in Thailand

At an international level, Thailand acceded to the New York
Convention in 1959. Thus, Thailand has a commitment to recognise foreign
arbitral awards, including Investor-State Dispute Settlement Cases (ISDS
cases) under investment treaties. Thailand signed the ICSID Convention in
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1985 but has not yet ratified it .
As for the regional level, Thailand is a party to plurilateral agreements
concerning investment in the context of Thailand’ s membership of
ASEAN, as demonstrated in Table 2. The ASEAN member states
concluded an intra-ASEAN Investment Agreement in 1987. It was later
replaced in 2009 by the ASEAN Comprehensive Investment Agreement-
ACIA, which is the foundational investment instrument in ASEAN.
ASEAN member states have also entered into several agreements
concerning investment with third states (ASEAN+ agreements).

Table 4 ASEAN’s plurilateral agreements concerning investment.

Treaties with Status Parties Date of Date of
Investment Provisions signature entry into

force
1 Signed Australia, China, 15/11/2020
RCEP (2020)
(not in Japan, Korea,
force) Republic of,
New Zealand
2 ASEAN - Hong Kong, In force Hong Kong, 12/11/2017 17/06/2019
China SAR China SAR
Investment Agreement

(2017)
3 ASEAN - India Signed India 12/11/2014
Investment Agreement (not in
force)
(2014)
5 ASEAN - China In force China 15/08/2009 01/01/2010
Investment Agreement

(2009)

32 OECD, "OECD Investment Policy Reviews: Thailand"(online), January 2021,
24 June 2021, https://www.oecd-ilibrary.org/sites/08095ac9-
en/index.html?itemId=/content/component/08095ac9-en

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