More transparency needed in Thai policy-making, EABC
The European business community believes that for Thailand to reignite its competitive potential, key issues need to be resolved, including an increase in the transparency of policy-making and the application of rules and regulations, a new paper says.
There are regulatory barriers to trade and investment that should be brought down so that Thailand can compete with Singapore and Malaysia on a more even basis, according to the second annual “European Business Position Paper” published by the European Asean Business Centre.
A key aspect of this recommendation is the liberalisation of the services sector, which has not kept pace with its regional rivals, according to the EABC. It is also essential to address the looming energy-supply challenge by ensuring access to significant new volumes of secure and affordable energy.
Solutions to all these issues are available and European businesses are keen to contribute expertise, investment and resources, the paper said.
Besides identifying major structural issues that the centre thinks need to be addressed, the 2013 position paper presents a wide range of industry-specific recommendations generated by the nine EABC industry working groups.
These recommendations are based on the direct experience of seasoned business leaders in key industries including healthcare, information and communications technology, automotive, insurance, and food and beverages. By addressing industry-specific issues, Thailand can quickly generate increased trade, investment and the transfer of important skills and technology, which will boost both near-term economic growth and long-term competitive advantage, the paper says.
The paper outlines and updates key trade and investment issues and recommendations related to increasing Thailand’s economic competitiveness. Through the EABC – which claims to represent a unified voice of European business in this region – the paper highlights both improvements that have been made in Thailand’s regulatory systems and areas where more work needs to be done. One of the most important steps taken last year was the start of negotiations towards Thai-European Union free-trade agreement.
The paper was released at an event hosted by EABC president Rolf-Dieter Daniel, managing director of Staedtler (Thailand), and presided over by Ambassador David Lipman, head of the Delegation of the European Union to Thailand.
Also attending the event at the Four Seasons Hotel in Bangkok were more than 150 senior Thai government representatives, members of the European diplomatic corps and European and Thai business leaders.
“The EU and European businesses have long enjoyed a strong and mutually beneficial relationship with Thailand, which has grown stronger over time,” Lipman said.
Daniel added: “The EABC is very pleased to be able to present the second annual European Business Position Paper to interested stakeholders in the business, diplomatic and governmental sectors and hopes that it leads to fruitful discussions and progress in realising Thailand’s competitive potential.
“The regional dynamic in Asean is changing quickly in the lead-up to the economic integration planned for 2015 and we see each country is working hard to improve its competitive position vis-a-vis the others.
“Thailand is at risk of being left behind if it does not embrace a more open and transparent trade and investment regime that allows it to attract critical skills, technology and funds that are necessary to long-term growth and prosperity.
“We hope that this position paper helps provide some guidance for policy-makers who are charting Thailand’s course in this turbulent period, and we look forward to productive consultations on our recommendations in the months ahead.”
