Thailand confirmed it is aiming to become a member of the Organization for Economic Cooperation and Development (OECD) at the OECD Southeast Asia Ministerial Forum in Viet Nam last week where policymakers detailed the Kingdom’s improvements in sustainability and governance.

Vice Minister for Foreign Affairs Sihasak Puangketkaew represented Thailand at the OECD Southeast Asia Ministerial Forum 2023, where he led the Ministerial Discussion on “Global investment trends: new potential for sustainable and quality investment in Southeast Asia”, reiterating that the Kingdom is committed to promotion of sustainable development and investment, and is especially keen on investments in smart industries and research and development.

The OECD was founded in 1961 and currently has 38 Member countries. Its motto is “better policies for better lives” and its purpose is to shape policies that foster prosperity, equality, opportunity and well-being for all.

At the Ministerial Forum, Vice Minister Sihasak advanced methods to bolster cooperation between the OECD and the 10 members of the Association of Southeast Asian Nations (ASEAN) to promote environmentally friendly businesses and intra-regional supply chains.

Restating Thailand’s desire to join OECD, Vice Minister Sihasak said the Kingdom is dedicated to raising its long-term competitiveness. Thailand was ranked number 30 out of 64 economies for competitiveness by the International Institute for Management Development (IMD) in its most recent annual rankings.

The main constraint on Thailand’s competitiveness, according to the OECD website, is not having enough skilled workers to meet the demands of advanced industries. The government has been actively working with Thai private sector and international partners to advance human resource development especially in advanced industries.

Thailand is currently collaborating with the OECD under the second phase of the OECD-Thailand Country Programme, which focuses on the areas of doing business, investment, sustainability, transparency, good governance, competition policies, and human resource development through education, science, technology, and innovation policies.

Photo courtesy of https://www.mfa.go.th/