THAILAND has championed His Majesty the King’s sufficiency economy philosophy as a solution for sustainable development for all nations in its role as chair of the Group of 77.
In his opening speech at the G-77 meeting yesterday entitled “Bangkok Roundtable on Sufficiency Economy: An Approach to Implementing the Sustainable Development Goals”, Prayut said Thailand had followed the King’s philosophy for countrywide development, with the people at the centre of it, over the past 40 years.
“People are the main development force,” he said. “If individuals are strong, families and communities will also be strong and eventually the country will be strong too,” he said. “[With the philosophy] Thailand survived the 1997 regional financial crisis, the 2004 tsunami disaster and the 2007 world financial crisis.”
Prayut said the sufficiency economy philosophy was not an instant development model and a country would have to apply it in accordance with its own circumstances.
Thailand had transferred its experience on the sufficiency economy to many developing countries, he said.
Countries like Lesotho, Timor-Leste, Cambodia, Myanmar, Laos, Indonesia, Afghanistan, Jordan, Senegal and Mozambique had obtained assistance from Thailand for sustainable development.
“Thailand believes the sufficiency economy philosophy is universal and it can be applied to all contexts and sectors of development – not only agriculture and rural areas in developing countries but also industrial and financial sectors in developed countries,” he said.
The model was compatible with the United Nations’ 2030 sustainable development goals, he said.
Foreign Minister Don Pramudwinai said many G77 members were interested in the sufficient economy philosophy and Thailand would continue to push its sustainable development agenda even though its term as G77 chair had ended.
Thailand hopes to become the grouping’s chair again at the G77 meeting in New York this year.
G77 consists of developing nations and aims to promote their collective economic interests and create an enhanced joint negotiating capacity at the United Nations. It originally had 77 founding members but now has 134.