Thai FM gives policy speech to OECD Council

Leading the group was Deputy PM and Foreign Affairs Minister Parnpree Bahiddha-Nukara, who gave a policy speech to the OECD Council at the invitation of Mathias Cormann, the organisation’s secretary-general.

Parnpree underscored Thailand’s readiness and strong determination to become an OECD member, noting that Thailand shared common values and goals with OECD members including democracy, rule of law, human rights, an open and free market economy, sustainability, inclusivity and green transition.

He elaborated on Thailand’s 42-year journey of engagement with the OECD and its long-term aspiration to become an advanced economy by 2037. Going forward, he said, Thailand will work closely with the OECD to upgrade policies and standards in doing business, sustainability and good governance to increase competitiveness, promote trade and investment, improve the standard of living and eventually overcome the so-called middle-income trap.

Member countries then took turns to voice support for Thailand’s request and prompt accession.

After the session on Tuesday, Parnpree told the press that he believed the meeting would help fast-track Thailand’s membership of the OECD, which will be exponentially beneficial to the country’s development.

He pointed out that based on the study conducted by the TDRI (Thailand Development Research Institute), joining the OECD would help boost Thailand’s gross domestic product by 1.6% or 200 billion baht, as well as facilitate the process of modernisation of the country across several dimensions.

Comprising 38 members, the OECD is an intergovernmental organisation that plays a key role in international governance regarding economy, trade, investment, anti-corruption, governance, education, innovation, environment, and climate change. Inspired by the vision “Better Policies for Better Lives”, OECD assists member countries in designing efficient public policy in the economic, social and environmental fields.