Thailand targets trade and tourism gains at IMF–World Bank meetings
Suphajee highlights expected spending by an estimated 20,000 visitors and plans talks with Swiss representatives and the World Trade Organization chief.
- Thailand is using the meetings to hold bilateral talks with various countries and the WTO to expand trade, promote business opportunities, and attract foreign investment.
- The event is expected to inject money into the Thai economy through spending by thousands of attendees, who are being encouraged to return as tourists in the future.
- Thailand is showcasing its products, food, and culture to demonstrate its economic potential, give investors a clearer understanding of its economy, and raise its international profile.
Commerce Minister Suphajee Suthumpun described the Annual Meetings of the International Monetary Fund (IMF) and the World Bank as a major global economic and financial forum, bringing together national leaders, executives of international organisations and business representatives from around the world.
Participants exchange information on the global economy and propose ways to respond to economic change.
The meetings offer Thailand an important opportunity to demonstrate its potential, give global leaders and investors a clearer understanding of its economy and attract foreign investment.
More than 8,000 people are attending the meetings, with total arrivals expected to reach about 20,000 when accompanying staff and delegations are included.
Spending by participants and tourism activity are expected to inject money into the Thai economy.
Thailand is also using the occasion to showcase its products, food, culture and tourist attractions, aiming to leave visitors with a favourable impression, encourage them to return for holidays and raise the country’s international profile.
Suphajee explained that, alongside the main meetings, bilateral talks and smaller sessions are also being held with government and private sector representatives from various countries to explore ways to expand trade and investment cooperation.
She is scheduled to meet executives, private sector representatives and government representatives from Switzerland today to exchange views and promote business opportunities between the two countries.
She is also due to hold talks with Ngozi Okonjo-Iweala, director-general of the World Trade Organization (WTO), to exchange views on the direction of global trade as it faces changes on several fronts.
The discussions will also cover how the WTO can support Thailand in adapting and strengthening its competitiveness in international trade.
“This forum is an opportunity for Thailand to show its potential to the world. At the same time, we can listen to recommendations and approaches from other countries and build on them to develop policies and cooperation that benefit the country, helping the Thai economy grow as the global economy changes,” Suphajee said.
