Digital globalisation and sustainability should benefit all parties: Supachai

Supachai made the remarks during the 2023 National and International Conference of the National Institute of Development Administration (Nic-Nida 2023) in Bangkok.

He said the United Nations is promoting multilateralisation to ensure benefits for all participating nations, including building trade capacity and getting rid of trade distortion.

He said digital globalisation and sustainability are included in the multilateralisation plan, adding that it would be challenging to ensure mutual benefits from globalisation.

Former UN secretary-general Kofi Annan always reminds me that globalisation should succeed for poor and rich alike, he said, adding that the UN is working as a voice of the voiceless.

He said Sustainable Development Goals (SDGs) were adopted in 2015 in a bid to encourage all parties, especially governments, to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by 2030.

He pointed out that the 10th SDG — to reduce inequalities — is the most important goal, as it aims to create economic and social partnerships that always benefit poor countries.

However, he raised concerns about globalisation as it has been seen as a path to boost trade.

"Globalisation is moving rapidly in a way that poor countries cannot catch up," he said, adding that this would impact the achievement of SDGs.

Supachai, who is also former director of the World Trade Organisation (WTO), said geopolitical issues led to a lack of economic growth, inadequate economic governance and global inequality.

"If we re-globalise the world at the UN level and the group of two [US and China] reconcile the economy, we will be able to gain benefit," he said, adding that people are looking for globalisation driven by economic policies for decoupling and derisking.

Supachai said the slow pace of deglobalisation would be the time that people can adjust themselves to the global ill, adding that it would be called "a new generation of globalisation".

He said the new globalisation consists of three factors — inclusiveness, resilience and sustainability. "Inclusiveness, resilience and sustainability have to go together," he said.

Supachai said many countries should strengthen the global supply chain to make them connected and stay resilient. For instance, sourcing of materials for producing a dose of Pfizer Covid-19 vaccine had been conducted around the world, he said.

He added that technological globalisation is important to enhance people's lives, covering health, agriculture and logistics.

"Globalisation should take everyone on board," he added.