TCC to push for global adoption of 'sufficiency economy'
The Thai Chamber of Commerce (TCC) plans to propose His Majesty the King's "sufficiency economy" philosophy as a model for sustainable global economic development and a remedy for the financial troubles that have plagued the capitalist system.
TCC chairman Phongsak Assakul said yesterday that as the private sector’s role in the economy gains in importance, the adoption of sufficiency economy could prevent future financial crunches.
To celebrate its 80th anniversary this year, the chamber will hold the TCC 2012 Expo, featuring a conference, exhibition and symposium, under the theme of “Sufficiency Economy for Sustainable and Balanced Growth: Solution for the World”.
The event will be held from November 16-23 at Impact Arena, Muang Thong Thani. Thanavath Phonvichai, director of the Economic and Business Forecasting Centre, a TCC think tank, said the symposium would show how the sufficiency economy model can strengthen the global economy, which faces many problems including a fuel crisis and shaky food security.
Since agriculture forms the foundation of the manufacturing and trading sectors, focusing on sustainable farming development is vital to global growth, he said. The TCC will also announce the world’s first index on sustainability, which has shown the effectiveness of the sufficiency model. The index measures fuel and food security, people’s happiness, incomes and production costs for the agricultural and industrial sectors.
Thanavath said the index offered indicators not only for economic growth, but also social development. Board of Trade secretary-general Vichai Assarasakorn said more than 500,000 businesspeople, both local and foreign, were expected to join the November event.
Global and national business leaders will share their knowledge of the sufficiency economy model at the forum.
Five key issues that will be discussed at the conference include narrowing the income gap, planning the national economy, anti-corruption efforts, the creative society, and moving towards future growth.
The exhibition will feature 80 pavilions under the theme “Best of Siam”. They will showcase the country’s leading businesses and innovations over the past 80 years and moving into the future. It will also feature a special Royal Pavilion to praise “the Kingdom’s Greatest King”.
More than 900 local enterprises will exhibit at the event to demonstrate the development of Thai products and services.
