Bangkok: European business leaders have reaffirmed their commitment to expanding investments in Thailand and expressed support for the country's free trade negotiations and bid to join the OECD, Thai Prime Minister Anutin Charnvirakul said on Thursday.
According to Thai News Agency, following a meeting with executives from the EU-ASEAN Business Council (EU-ABC) and the European Association for Business and Commerce (EABC), Anutin reaffirmed Thailand's readiness as a primary investment, tourism, and manufacturing hub.
Anutin urged European businesses to support the final stages of the Thailand-EU Free Trade Agreement (FTA) negotiations, with a target to conclude the talks by the end of this year. The Prime Minister acknowledged delays in the final phases of negotiation due to differing views, particularly concerning raw materials and the agricultural sector. He noted that the government must strike a delicate balance to protect the interests of all parties. Successful conclusion of the FTA is expected to substantially increase trade value and eliminate tariff barriers for Thai exporters.
European leaders also affirmed their support for Thailand's application to join the Organisation for Economic Co-operation and Development (OECD). Membership is viewed by Thailand as a critical step to boost trade and attract foreign direct investment. Regarding whether the country would meet its 2028 target for OECD accession, Anutin said the government would fully prepare all necessary documentation to meet the criteria set by the evaluating committee.
Addressing concerns over whether recent corruption allegations regarding local administration examinations would impact Thailand's OECD bid, Anutin dismissed the connection, stating that OECD entry focuses on governance and accountability frameworks. "We cannot completely prevent all instances of corruption, but when it occurs, we have systems in place to investigate, arrest, and prosecute suspects quickly," Anutin said, referring to recent enforcement actions by the Central Investigation Bureau, the National Anti-Corruption Commission, and the Anti-Money Laundering Office.