Section Code: Article 14
TREATY OF AMITY AND ECONOMIC RELATIONS (1966)
between the Kingdom of Thailand and the United States of America
ARTICLE XIV: Closing
- The present Treaty shall be ratified, and the ratifications thereof shall be exchanged at Washington, D.C. as soon as possible.
- The present Treaty shall enter into force one month after the date of exchange of ratifications. Thereupon it shall replace and terminate the Treaty of Friendship, Commerce and Navigation signed at Bangkok on November 13, 1937.
- The present Treaty shall remain in for ten years and shall continue in force thereafter until terminated as provided herein.
- Either Party may by giving one year's written notice to the other Party, terminate the present Treaty at the end of the initial ten-year period or at any time thereafter.
IN WITNESS WHEREOF the respective Plenipotentiaries have signed the present Treaty and have affixed hereunto their seals.
DONE in duplicate, in the Thai and English languages, both equally authentic, at Bangkok, this twenty-ninth day of May in the two thousand five hundred and ninth year of the Buddhist Era, corresponding to the one thousand nine hundred and sixty sixth year of the Christian Era.
For the Kingdom of Thailand
(Signed) Th. Khoman
United States of America
(Signed) Graham Martin
With respect to most businesses, the word alien as used in the Act does not include American natural persons or American juristic persons who qualify for the privileges under provisions of the Treaty of Amity and Economic Relations B.E. 2509 (A.D. 1966) between Thailand and the United States . Under this Treaty, an American-owned Thai company or branch office of an American company is permitted to do almost anything a Thai company does except:
- Own land
- Engage in the business of inland communications
- Engage in the business of inland transportation
- Engage in fiduciary functions
- Engage in banking involving depository functions
- Exploit land or other natural resources
- Engage in domestic trade in indigenous agricultural products