OECD begins accession talks with Thailand
Published: Tuesday, Jun 18th 2024, 19:10
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The Organization for Economic Cooperation and Development wants to start accession talks with Thailand. This was decided by the OECD Council, as the Paris-based organization announced on Tuesday.
The OECD had already announced the start of accession talks with Indonesia in February. OECD Secretary-General Mathias Cormann said: "This is a clear demonstration to further strengthen, deepen and expand our active engagement in Southeast Asia, a region that is a strategic priority for our organization." The process will drive forward the reform process in Thailand.
As part of the accession talks, various committees of the industrialized nations' organization will examine the extent to which Thailand is in line with OECD standards and policies. The focus will be on open trade and investment as well as the fight against corruption. Following the review, the OECD will submit reform proposals to the country. The duration of the accession talks has not yet been determined.
The OECD brings together countries that are committed to democracy and a market economy. In addition to major economies such as Germany, the USA, Japan and Switzerland, emerging economies such as Mexico and Chile are now also members. A total of 38 countries belong to the OECD, and others such as Brazil and Croatia are in accession talks. The organization's experts regularly draw up economic forecasts, for example, and are responsible for Pisa, the world's largest school performance test.
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