Thailand Advocates for a Transparent Global Trade Framework

Post by : Shakul

During the ADB–World Bank Trade Forum 2026 in Bangkok, Thailand reaffirmed its commitment to an open, rules-based global trading system. The international forum gathered economists, governmental figures, and trade professionals to deliberate on future trade policies amid rising geopolitical tensions.

Mr. Veerapong Prapha, Thailand’s Trade Representative, addressed attendees at the Siam Kempinski Hotel, focusing on the theme “Trade Policy in a Fragmented World: Accessions, Industrial Policy, and the New Multilateralism.” He expressed concern over how geopolitical rivalry and shifting industrial policies are redefining the global trading landscape.

Mr. Veerapong noted the pressing need for nations, particularly those reliant on international trade, to adapt their trade frameworks for stability and fairness. He emphasized Thailand’s goal of fostering economic partnerships globally, highlighting free trade agreement talks with the European Union and participation in the Regional Comprehensive Economic Partnership.

He underscored that trade policy alone cannot spur growth; robust industries and businesses are essential for global competitiveness. Aligning trade with industrial policy transparently is crucial, he asserted, as it will enhance competitiveness and streamline local regulations.

He later took part in a vice-ministerial discussion exploring future trade pathways amidst geopolitical friction and the evolution of economic collaborations outside the established WTO framework, with insights shared from representatives of countries like Sri Lanka and the Philippines.

Mr. Veerapong highlighted that nearly 70% of Thailand’s GDP comes from exports, warning that rising trade barriers and political disputes could pose significant risks. However, he is optimistic that the changing trade milieu offers Thailand a chance to enhance its international competitiveness and expedite trade negotiations.

The Thailand-European Union Free Trade Agreement is seen as a vital economic objective, aimed at modernizing regulations, generating foreign investment, and bolstering Thai businesses on a global scale. Thailand also anticipates that the EU will acknowledge its unique economic landscape during negotiations.

In closing, Thailand expressed its commitment to collaborate with global partners to develop a sustainable and resilient trading system. Officials hope the forum will foster international dialogue and yield actionable solutions for nations grappling with economic uncertainties in the near future.