On May 31, 2023, Mr. Wanchat Suwankit, Deputy Secretary-General of the National Economic and Social Development Council, co-chaired with Mr. Cherdchai Chaivaivid, Director-General of the Department of International Economic Affairs, a consultation meeting regarding Thailand’s readiness and suitability to become a member of the Organisation for Economic Co-operation and Development (OECD), together with relevant agencies at the Office of the National Economic and Social Development Council (NESDC).
Initial assessment indicates that Thailand could gain multiple benefits from becoming a full OECD member, such as improving domestic standards to meet international benchmarks, enhancing competitiveness and market access opportunities in member countries, accessing diverse global economic databases, receiving consultation and technical assistance from OECD, and building a positive image while promoting Thailand’s role in the global arena. However, there remain limitations that Thailand must carefully consider, such as providing non-discriminatory benefits to investors and disclosure of various information, which must be evaluated with primary consideration for the benefits of the country’s citizens.
The process of becoming an OECD member requires both domestic and international procedures, necessitating cooperation from all sectors including government, private sector, and civil society. This includes updating laws, rules, regulations, and relevant standards, as well as demonstrating willingness and serious engagement in OECD activities. Should Thailand become an OECD member, besides elevating domestic operational standards, it would also strengthen Thailand’s role in the global arena, aligning with the master plan under the national strategy for foreign affairs.
For additional details, progress updates and related documents can be found at https://bit.ly/42wiVGc
News: Strategy and International Cooperation Coordination Division
