Thai Diplomacy Eyes Global Alliances for Economic Prosperity

 

Thailand is actively pursuing a proactive economic diplomacy strategy, with senior officials outlining how deeper engagement with key international bodies like the Organisation for Economic Co-operation and Development (OECD), the BRICS bloc, and a Free Trade Agreement (FTA) with the European Union will directly bolster the livelihoods of its citizens.

 

During a parallel media briefing held on the sidelines of the global Ambassador and Consul-General Meeting on Thursday, diplomats detailed the practical advantages of Thailand's multi-faceted cooperation efforts.

 

The briefing, titled "Proactive Economic Diplomacy (OECD, BRICS, EU FTA)," featured contributions from Ambassador to France, Sarun Charoensuwan; Ambassador to Belgium, Kanchana Patarachoke; Ambassador to Russia, Sasiwat Wongsinsawat; Ambassador to Brazil, Kundhinee Aksornwong; and Chargé d'affaires to Pretoria, Republic of South Africa, Paisit Boonparlit.

 

 

OECD Membership: A Long-Term Vision

The Thai government's decision to seek OECD membership is considered highly significant, potentially transforming the country long-term.

 

Comprising 38 largely developed, high-income nations with shared values, the OECD’s guiding principle, "Better Policies for Better Lives," is central to Thailand's aspirations.

 

"Joining the OECD is not easy; it has spanned two governments and three prime ministers, demonstrating the Thai government's commitment," stated Ambassador Sarun.

 

He added that an assessment confirmed membership would boost Thailand's GDP, elevate its regulatory standards, enhance transparency, and improve public well-being. 
 

 

While adapting domestic laws and regulations for OECD adherence will take time and effort, the benefits for the nation, its people, and Thailand's international standing are seen as substantial, including entry into a high-income country group and a role in shaping modern policies.

 

The OECD itself also benefits, as Thailand can serve as a crucial bridge for the predominantly Western organisation to understand and set global standards relevant to other regions.

 

 

EU FTA: Learning from Vietnam's Success

Thailand is currently in active negotiations for a crucial Free Trade Agreement (FTA) with the European Union, led by the Department of Trade Negotiations under the Ministry of Commerce in close collaboration with the Ministry of Foreign Affairs.

 

The urgency of the Thailand-EU FTA is highlighted by Vietnam's experience, which has seen a 40% increase in trade since its FTA with the EU concluded five years ago.

 

This has given Vietnam a significant competitive edge, particularly for businesses looking to export to the 27 EU member states with tariff advantages.

 

The Thai government is therefore prioritising these talks, with five rounds already completed and four out of 23 chapters finalised. The next round of negotiations is set to take place in Thailand on 23rd June.

 

Thailand has ambitiously declared its aim to conclude the talks by the end of this year, reflecting a political determination also felt by the EU, which is seeking new international partners amid changing transatlantic relations.

 

The EU has already concluded FTAs with Singapore and Vietnam within ASEAN and is currently negotiating with Malaysia, the Philippines, Indonesia, and Thailand. 
 

 

Despite past criticisms regarding human rights and persistent rumours of political instability, the diplomats clarified that the EU views Thailand as a value-aligned partner and has expressed support for its OECD bid.

 

Joining the OECD would further solidify Thailand's commitment to democratic values and human rights, contributing to its ongoing development.

 

 

BRICS: Forging New Friendships in the Global South

The current Thai government is also strongly advocating for Thailand's full membership in BRICS, a bloc of emerging market countries united by their identity as "Global South" nations.

 

This move is seen as an important option for Thailand to broaden its international friendships, with most existing BRICS members reportedly receptive to Thailand's application.

 

Currently, Thailand holds the status of a BRICS partner country. Decisions within the group are made by consensus, with the host nation playing a significant role.

 

While Brazil, this year's host, aims to strengthen BRICS, there is no immediate agenda for new member admissions, meaning Thailand may have to wait until next year for full membership.

 

Nevertheless, Thailand has been invited to almost all related events at the upcoming Brazil meeting.

 

Addressing concerns that joining BRICS might be perceived as taking sides in global politics, the diplomatic team clarified that Thailand's OECD application preceded its BRICS interest.

 

While inquiries were made, the issue did not escalate. They noted that the OECD is mature and understands that Thailand's BRICS engagement is driven by economic, rather than political, motivations.

 

 

Tangible Benefits for the People

In conclusion, the diplomatic delegation stressed that these three initiatives are far from mere "talk shops." Instead, their policy agendas are directly linked to the economic well-being of the Thai people and deeply involve the country's private sector.

 

"This is no longer a policy option; it is a foreign policy reality that we are actively pursuing to achieve truly concrete results," the diplomats affirmed.