thailandedition
Sihasak's 4-Pronged Economic Diplomacy Strategy

Sihasak's 4-Pronged Economic Diplomacy Strategy

Matichon•Economy•22m ago

Reader Briefing

Deputy Prime Minister and Foreign Minister Sihasak Phuangketkeow announced four proactive economic diplomacy strategies to enhance Thailand's economic competitiveness.

  • •Sihasak Phuangketkeow detailed the economic diplomacy plan on November 14 at Chiang Rai Rajabhat University.
  • •The strategy focuses on maintaining and expanding markets, attracting high-value investment, promoting Thai overseas investment, and utilizing science and innovation diplomacy.
  • •Specific regional targets include Myanmar for border trade, the European Union for an FTA, and Africa via the Thailand-Africa Initiative.
  • •The Ministry of Foreign Affairs is collaborating with the Ministry of Commerce, BOI, and the Ministry of Higher Education, Science, Research and Innovation.

Overview

  • •Sihasak Phuangketkeow delivered a VDO presentation on November 14 at Chiang Rai Rajabhat University in Chiang Rai Province.
  • •Sihasak Phuangketkeow stated that Thai diplomacy must shift to a proactive approach due to global volatility and trade barriers such as US tariffs.
  • •The Ministry of Foreign Affairs has prioritized economic diplomacy through four strategies: market expansion, attracting high-tech investment, supporting Thai investment abroad, and leveraging science and innovation.
  • •Sihasak Phuangketkeow plans to visit Myanmar to discuss border trade obstacles and security issues.
  • •The Ministry of Foreign Affairs is pushing for the conclusion of the Free Trade Agreement (FTA) between Thailand and the European Union.
  • •The Ministry of Foreign Affairs has implemented the Thailand-Africa Initiative to expand relations and opportunities in Nigeria and South Africa.
  • •Sihasak Phuangketkeow discussed border area development and rail/road connectivity projects with Malaysia, proposing private sector involvement.
  • •Thai embassies and consulates have been assigned primary duties in economic work to seek opportunities for the Thai private sector.

Full article content is available on the original source.

Read on Matichon (Thai Version)View in Google Translate

Source: Matichon (Original)

Key Quotes

Sihasak Phuangketkeow
"Tomorrow I will go to Myanmar. In addition to security issues, I will discuss border trade and what obstacles currently exist."
พรุ่งนี้ผมจะไปเมียนมา นอกจากประเด็นเกี่ยวกับความมั่นคงแล้ว ก็จะคุยเรื่องการค้าชายแดน ว่าตอนนี้ยังมีอุปสรรคอะไรบ้าง
Sihasak Phuangketkeow
"Africa is a region with potential, and we must try to expand opportunities for Thailand in terms of economy, trade, and investment."
แอฟริกา ก็เป็นภูมิภาคที่มีศักยภาพ และเราก็ต้องพยายามที่จะขยายโอกาสให้กับประเทศไทย นั่นก็คือเรื่องของเศรษฐกิจ เรื่องของการค้า การลงทุน

Key Entities

Person

Sihasak Phuangketkeow(สีหศักดิ์ พวงเกตุแก้ว)ℹ️
Deputy Prime Minister and Minister of Foreign Affairs of Thailand.

Organization

Ministry of Foreign Affairs(กระทรวงการต่างประเทศ)ℹ️
The Thai government ministry responsible for announcing and implementing economic diplomacy policies.
Chiang Rai Rajabhat University(มหาวิทยาลัยราชภัฏเชียงราย)
The venue in Chiang Rai Province where Sihasak Phuangketkeow gave a presentation.
Ministry of Commerce(กระทรวงพาณิชย์)ℹ️
A ministry coordinating with the Ministry of Foreign Affairs under the Team Thailand framework.
Board of Investment (BOI)(สำนักงานคณะกรรมการส่งเสริมการลงทุน (BOI))
An organization coordinating with the Ministry of Foreign Affairs under the Team Thailand framework.
Ministry of Higher Education, Science, Research and Innovation (MHESI)(กระทรวงการอุดมศึกษา วิทยาศาสตร์ วิจัยและนวัตกรรม (อว.))
A ministry working closely with the Ministry of Foreign Affairs on science and innovation diplomacy.
European Union(สหภาพยุโรป)ℹ️
An entity with which Thailand is negotiating a Free Trade Agreement.
EUℹ️
The same entity as the European Union, involved in FTA negotiations with Thailand.

Place

Chiang Rai(เชียงราย)ℹ️
The province where the presentation took place.
Cambodia(กัมพูชา)ℹ️
A country in the region where Thailand currently has problems.
Myanmar(เมียนมา)ℹ️
A country experiencing instability and a key partner for border trade discussions.
United States(สหรัฐฯ)ℹ️
A country using tariffs to pressure other nations.
Lao PDR(สปป.ลาว)ℹ️
A country with discussions regarding bridge construction for trade routes to China and Vietnam.
Kazakhstan(คาซัคสถาน)ℹ️
A country viewed as a gateway for Thailand to enter Central Asian markets.
Africa(แอฟริกา)ℹ️
A region with high potential where Thailand is expanding economic opportunities.
Nigeria(ไนจีเรีย)ℹ️
A key country of interest in Africa for Thai economic expansion.
South Africa(แอฟริกาใต้)ℹ️
A key country of interest in Africa for Thai economic expansion.
Malaysia(มาเลเซีย)ℹ️
A country with discussions on border area development and rail/road connectivity.

Policy

Thailand-Africa Initiative
A policy to push for expanded Thai relations and opportunities in Africa.

Law

Thai-EU Free Trade Agreement (FTA)(ความตกลงเขตการค้าเสรี (FTA) ระหว่างไทยกับ EU)
A trade agreement currently under negotiation and nearing a conclusion.