On December 19, 2024, Dr. Nilsuwan Leelarasamee, Vice Chairman of the Federation of Thai Industries, chaired the 3/2024 Trade Regulations and Multilateral Subcommittee meeting. Representatives from the Office of the National Economic and Social Development Council (NESDC) and the Ministry of Foreign Affairs (MFA) were invited to deliver special presentations on “Thailand’s Implementation Process for OECD Membership and Thailand’s Preparatory Approaches” to subcommittee members, industry representatives, and government officials in attendance.
Dr. Nilsuwan Leelarasamee, Vice Chairman of the Federation of Thai Industries, addressed Thailand’s changing international economic environment, including Donald Trump’s potential return to the U.S. presidency, Thailand-EU free trade agreement negotiations, and Thailand’s OECD membership process. These changes will bring new challenges and opportunities for Thai businesses. Therefore, Thailand must prepare in advance to address potential impacts and changes, including coordination among various sectors – government, private sector, and civil society – to ensure efficient implementation.
Ms. Salinee Phonprapai, Deputy Director-General of the Department of International Economic Affairs, Ministry of Foreign Affairs, emphasized that OECD membership is not about rushing to join, but rather about improving standards and driving comprehensive domestic reforms. The Ministry views this membership process as beneficial for Thailand’s long-term economic development through expanded economic relations, elevated public and business sector standards, enhanced Thai role in international economic direction-setting, and increased credibility with trading partners. She also highlighted OECD legal instruments relevant to Thai businesses, including market liberalization, anti-corruption, international taxation, and technological and climate transition, which require continuous monitoring.
Mr. Thatchai Keeratipongpaiboon, Director of International Strategy and Cooperation Division, Office of the National Economic and Social Development Council, discussed Thailand’s expectations for OECD membership benefits across government, private sector, and civil society. Currently, Thailand is preparing its Initial Memorandum (IM), conducting self-assessment of domestic laws, policies, and practices’ alignment with OECD standards. OECD will then conduct an in-depth technical review, providing recommendations for improvements. The private sector can participate by providing input to the government on standards adjustment, especially in legislative reforms requiring stakeholder consultation. Thai private sector can also engage with OECD through Business at OECD (BIAC), where the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) currently holds observer status. BIAC represents OECD member countries’ business networks, providing business perspective in policy and practice development.
NESDC and MFA addressed private sector questions regarding timeframes for standards adjustment, Thailand’s participation as an OECD membership candidate, and membership impact. The government will maintain close cooperation with the private sector throughout Thailand’s OECD membership process.
For information about Business at OECD, visit https://www.businessatoecd.org/
To follow Thailand’s progress toward OECD membership, visit bit.ly/43SdmE0
bit.ly/43SdmE0
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