Thailand Advocates for Transparent Global Trade Practices

Thailand has reiterated its dedication to fostering an open, transparent, and rules-based global trading environment at the ADB–World Bank Trade Forum 2026 in Bangkok. This prestigious event gathered government officials, economists, and trade specialists to debate the future of trade policy amid growing geopolitical concerns and economic uncertainties.

Mr. Veerapong Prapha, Thailand's Trade Representative, made a significant address during the forum's opening ceremony, which was organized in collaboration with the Asian Development Bank, the World Bank Group, IMD Business School, and the Paris School of Economics. Held at the Siam Kempinski Hotel, the forum's theme was “Trade Policy in a Fragmented World: Accessions, Industrial Policy, and the New Multilateralism.”

In his speech, Mr. Veerapong highlighted the transformative state of the global trading system, signaled by increasing geopolitical competition and expanding industrial policies. He noted that these factors are instigating new challenges for nations that depend heavily on international trade and global supply chains. He urged governments worldwide to rethink how the trading system can evolve to ensure stability and fairness for all economies.

He reaffirmed Thailand's commitment to a predictable global trade framework that adheres to international standards and promotes economic collaboration. Mr. Veerapong mentioned Thailand's proactive efforts in fortifying trade ties with various countries and regional organizations, including ongoing talks for a Thailand-European Union Free Trade Agreement, participation in the Regional Comprehensive Economic Partnership, and aspirations for OECD membership by 2028.

Furthermore, he stressed that robust trade policies must be complemented by strong domestic industries to stimulate economic growth. Connecting industrial and trade policies inclusively and transparently is crucial. Enhancing competitiveness, modernizing regulations, curtailing unwarranted business impediments, and bolstering local industries are essential for ensuring Thailand's long-term economic stability.

Later in the forum, Mr. Veerapong joined a vice-ministerial plenary discussion titled “Three Future Directions for Global Trade.” This session dealt with potential future scenarios in global trade, touching on regional trade blocs, geopolitical tensions among superpowers, and innovative economic collaboration outside conventional World Trade Organization structures. Participants included representatives from countries like the Philippines, Sri Lanka, Tajikistan, and the Solomon Islands.

He acknowledged that Thailand's economy significantly relies on global trade, with exports constituting about 70% of the GDP. He cautioned that rising trade barriers, political tensions, and escalating business costs could pose substantial risks for Thailand and other export-driven economies. Nonetheless, he recognized that the evolving global trade landscape offers Thailand the chance to expedite negotiations and enhance its international standing.

The Thailand-European Union Free Trade Agreement is a primary economic priority for the nation, aiming to modernize regulations, elevate standards, attract foreign investments, and enhance competitiveness on a global scale. Officials hope the European Union will understand Thailand's unique economic landscape to facilitate equitable negotiations.

In closing, Thailand expressed its eagerness for collaboration with global partners to construct a resilient, inclusive, and sustainable trading framework. Thai representatives conveyed their optimism that the ADB–World Bank Trade Forum 2026 would bolster international discourse and lead to viable solutions for nations confronting economic and trade challenges in the future.