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Enhancing Thailand's Economic and Business Engagement in the Mehong Subregion

4 July 2020 (Readers 0)

The public and private sectors in Thailand are working together to enhance Thailands economic and business engagement in the Mekong sub-region.

Permanent Secretary for Foreign Affairs Busaya Mathelin on 3 July 2020 hosted the joint public-private High-Level Roundtable on Thailands Economic Diplomacy with Neighboring Countries in the Mekong Sub-Region (Cambodia, Laos PDR, Myanmar and Vietnam) in the Post-COVID-19 Era. The roundtable was joined by high-ranking executives from public and private agencies.

According to a report from the Ministry of Foreign Affairs, the meeting discussed the opportunities created and challenges posed by the pandemic and identified policy options that will help Thailand to timely re-connect business with the neighboring countries and support economic stability and recovery in the sub-region.

The Permanent Secretary emphasized the Ministrys pro-active approach and readiness to move forward Thailands economic diplomacy in the Mekong sub-region, which is closely linked to Thailands economic growth, together with the business sector playing a central role. This roundtable was the first policy dialogue with the private sector following the outbreak of COVID-19.

The roundtable discussed short-term measures relating to such issues as border trade, logistics development, liquidity support for SMEs, and tourism promotion, as well as long-term policy with regards to infrastructure development, promotion of e-commerce and digital technology, and promotion of local currencies for cross-border business transactions.

The participants concurred that Thailand remained a preferred investment destination and could become a country well known for high quality, cleanliness, and safety, thanks to the countrys strength in medical and healthcare sector. This would help cushion COVID-19s negative impact on the economy and contribute to Thailands sustainable and speedy growth.

The roundtable also agreed on the establishment of a joint public-private dialogue, to be organized by the Department of International Economic Affairs, as a mechanism to advance Thailands economic diplomacy with the Mekong sub-region. This meeting was in line with the Governments guideline stressing the joint public-private integrated approach in strengthening he post-COVID-19 economic recovery.


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