Most encouraging was that Prime Minister Thaksin Shinawatra's government recognized the enormous potential of Thailand 's marine leisure industry and targeted it for special government attention.

So, what has been happening since import taxes were dropped last February? Has everything gone quiet? Was the industry deluded into dreaming of great things to come?

The answer is a definitive "No!" says Kevin Quilty, managing director of Sunsail Thailand and chairman of MAT . "On the government side, the intervening months have seen a number of studies commissioned," he said. "A report on barriers to serious growth is currently under review - the very procedure that led to zero tax!"

And according to MAT founder and president Alan Cooke: "The government continues to take a positive attitude towards marine tourism with further regulatory news expected later in the year."

Issues included in the review are licensing for commercial pleasure yachts, ownership of commercial yachts, immigration procedures and bonding for crews of visiting yachts, tax breaks to encourage domestic boat builders and environmental and safety questions.

At the same time, the Tourism Authority of Thailand is preparing a major marketing initiative aimed at launching Thailand on the world market as a premier marine leisure destination, while the Harbour Department is looking into the feasibility of building municipal marinas in strategic locations.

Nor is the emphasis just on the traditionally better-known waters around Phuket, according to Quilty. The Trat/Koh Chang area in the Eastern Gulf of Thailand is unspoiled, undeveloped and ripe for marine tourism. Koh Samui, with its year-round good weather is held back only by the lack of marinas. The same goes for Krabi and other parts of the Southwest coast of Thailand.

The government is serious. It has embraced the concept and is working towards the implementation. Things are happening.

But what of the private sector? Sitting idly by waiting for the government to get things perfectly right? Not at all. The five months since zero tax became reality have seen a flurry of activity. Already, 35 yachts have been imported under the new tax rule, while several International yacht charter companies are waiting to establish themselves in Thailand as soon as legislation is clarified.

On the marina front, the new Royal Phuket Marina will open later this year, with berths for 200 yachts, a top quality housing development, shops, offices, a hotel and restaurants. Yet this new marina is expected to be full almost as soon as it opens.

There's a new marina being developed in Trat (Eastern Gulf), similar to the Phuket Boat Lagoon, while Koh Chang already has a small marina with capacity for 20 yachts. This year's Koh Samui Regatta saw the invitation to tender announced for that island's marina - after years of 'discussion' and prevarication. In Krabi, suitable sites are being studied for marina development while back in Phuket, the long-stalled Yacht Haven development is on the move and a further two potential marina sites are under discussion.

Only five months since the abolition of import duty on boats, there has been a dramatic change in attitude within the local marine industry. The atmosphere is buoyant. Local businesses are investing in expansion; international companies are rushing to establish themselves in Thailand, either with their own Thai branches or through representation deals with local companies. Yacht brokers, boat builders, marine suppliers, marinas and repair facilities are all optimistic for the future.

Thailand's marine leisure industry is on the move. There has never been a better time to capitalise on the potential of what will become one of the world's leading marine tourism destinations.

There has never been a better opportunity than PIMEX 2004.