was limited to agricultural products, with a more comprehensive FTA planned to be signed by 2010. Thailand also has a limited free-trade agreement with India (since 2003) and a comprehensive Australia-Thailand Free Trade Agreement, which began on 1 January 2005. Thailand began free trade negotiations with Japan in February 2004, and an in-principle agreement was agreed to in September 2005. Negotiations for a US-Thailand free trade agreement have been underway, with a fifth round of meetings held in November 2005. Several industries are restricted to foreign investment by the 1999 Foreign Business Act. These industries include media, agriculture, distribution of land, professional services, tourism, hotels, and construction. Share ownership of companies engaged in these activities must be limited to a 49 percent minority stake. The 1966 US-Thailand Treaty of Amity and Economic Relations provides exemption of these restrictions for shareholders with United States citizenship. The Bangkok area is one of the most prosperous parts of Thailand and heavily dominates the national economy, with the infertile northeast being the poorest. A concern of successive Thai governments, and a focus of the recently ousted Thaksin government, has been to reduce the regional disparities which have been exacerbated by rapid economic growth in Bangkok and financial crisis. Although little economic investment reaches other parts of the country except for tourist zones, the government has stimulated provincial economic growth in the eastern seaboard and the Chiang Mai area. Despite talk of other regional development, these three regions and other tourist zones still dominate the national economy. Although some US rights holders report good cooperation with Thai enforcement authorities (including the Royal Thai Police and Royal Thai Customs), Thailand remained on the priority watch list in 2012. The United States is encouraged that Thailand's government has affirmed its commitment to improving IPR protection and enforcement, but more must be done for Thailand to be removed from the list. Although the economy has grown moderately since 1999, future performance depends on continued reform of the financial sector, corporate-debt restructuring, attracting foreign investment and increasing exports. Telecommunications, roads, electricity generation and ports showed increasing strain during the period of sustained economic growth. Thailand is experiencing a growing shortage of engineers and skilled technical personnel. Major Trade Partners The following table shows the largest trading partners for Thailand in 2021 by total trade value in billions of USD. Regional economies Isan The economy of Isan is dominated by