Thailand’s bid to start the process of joining the Organization for Economic Cooperation and Development (OECD) in Paris has garnered overall approval from the organization's members, as per a reliable source.
During the first meeting of the OECD Council in Paris on Tuesday, the members showed general support for Thailand's aspiration to join the 38-member OECD. Thailand submitted the application on Feb 8, 2023.
The council focused on the evidence-based Framework for Consideration of Prospective Members, highlighting Thailand’s longstanding cooperation with the OECD for over two decades through the Country Programme since 2018 and the Southeast Asia Regional Programme since 2014. The process of joining is expected to take around five years.
During the discussion, OECD members also stressed their desire to strengthen their involvement and membership with countries in the Indo-Pacific region, as indicated in the OECD Strategic Framework for the Indo-Pacific.
The OECD, founded in 1961 with the motto “better policies for better lives,” is primarily aimed at shaping policies that promote prosperity, equality, opportunity, and well-being for all. It was established after the economic devastation of post-World War II and is now broadening its programs and cooperation with other countries worldwide.
Thailand was ranked 30th out of 64 economies for competitiveness by the International Institute for Management Development (IMD) in its most recent annual rankings. Apart from seeking OECD membership, Thailand also aims to open up its economy by signing more free trade agreements with foreign countries.
