Thailand is aiming to become a member of the Organisation for Economic Co-operation and Development (OECD) as it recognizes the potential benefits of aligning with the organization. Foreign Minister Maris Sangiampongsa expressed this goal during the official launch of Thailand’s OECD Accession Process. This marks a significant milestone for the nation, as it has been invited to start accession discussions with the OECD after submitting a Letter of Intent earlier this year.
In order to progress towards membership, Thailand and the OECD will work together to create an Accession Roadmap. This roadmap will outline the objectives, requirements, and timeline for implementing various OECD instruments that are necessary for Thailand to meet before joining the organization. Once the roadmap is successfully implemented, Thailand will be considered for membership by the OECD Council.
Foreign Minister Maris highlighted Thailand’s aspirations to enhance its business environment, improve transparency and efficiency in the public sector, promote a more resilient and sustainable economy, and foster inclusive growth. By aligning with the OECD, Thailand aims to position itself as a forward-looking and competitive player in the global economy.
OECD Secretary-General Mathias Cormann praised Thailand’s economic progress over the years, noting that the country’s GDP per capita has been steadily approaching the OECD average. He also mentioned the positive impact of the 1999 Foreign Business Act in attracting foreign direct investment to Thailand. By becoming an OECD member, Thailand can further strengthen its economic ties with like-minded countries and contribute to global policy-making efforts.
Thailand’s journey towards OECD membership signifies its commitment to embracing international standards and fostering collaboration on political and economic issues. As the nation continues to make strides in economic development and governance, joining the OECD would open up new opportunities for growth and cooperation on a global scale.