Thai-Japan trade returns to normal status
For the first time since the end of World World II, Thailand and Japan agreed to resume normal trade relations, beginning on January 1, 1956. The Bank of Thailand in particular supported the normalisation efforts, while the Economic Affairs Ministry and the Japanese Embassy discussed the possibility of abandoning key post-war trade arrangements, which were providing economic protection to Japan.
Prime Minister Plaek Phibunsongkhram had followed a policy of cooperation with Japan during World War II, which had been unpopular with the Thai populace. During the Japanese occupation, Thailand had been restricted to trading only with Japan and territories under Japanese control.