Thailand plans to join Organization for Economic Co-operation and Development (OECD) by 2030
Hitting the OECD Finish Line by 2030: A Limitless Journey for Thailand
Thailand's eyes are set on joining the Organisation for Economic Co-operation and Development (OECD) by 2030, embarking on a visa-free journey of economic integration. The path to OECD membership consists of key steps, kicking off with Thailand officially entering accession talks with the OECD on June 17, 2024.
Planning out the route ahead, the OECD Council adopted a roadmap for Thailand’s accession on July 10, 2024. The journey continues with Thailand submitting an initial memorandum, self-assessing its alignment with OECD standards.
Come December 2025, the technical review phase will commence, following the submission of the preliminary memorandum. Amidst the whirlwind of reforms to align with OECD standards and policies, Thailand will team up with various OECD committees. Finally, the OECD Council will cast its deciding vote on Thailand’s membership.
Thailand’s aspirations extend beyond mere OECD membership. They long for an economic makeover, aiming to align their policies with international standards, boosting attractiveness to investors. Membership promises a more predictable and stable environment for foreign investments. With the OECD's backing, Thailand seeks to amplify its global economic influence and contribute to regional policy dialogues.
Eyeing the finish line, Thailand doesn’t shy away from domestic reforms, confident that OECD membership will provide the momentum needed to achieve the 2030 Sustainable Development Goals. Aiming for the high-income country status by 2037, the OECD's expertise will prove invaluable.
The OECD, for its part, welcomes the participation of Thailand and Indonesia. Their inclusion extends the organization's relevance, adding fresh perspectives and diverse experiences to the mix. The technical review phase for Thailand is expected to start in December 2025, a significant milestone in this high-stakes game of global economic integration.
And the adventure continues! Stay tuned for updates on Thailand's unprecedented pursuit of OECD membership. As the saying goes, “It's a marathon, not a sprint"- and with stakes this high, every step counts!
- Thailand's aspirations in joining the OECD by 2030 are not limited to economic integration; they also aim to align their policies with international standards, hoping to boost attractiveness to investors and create a more predictable and stable environment for business.
- Apart from the economic benefits, Thailand also seeks to amplify its global influence by contributing to regional policy dialogues and benefitting from the OECD's expertise, which they believe will be crucial in their pursuit of becoming a high-income country by 2037.
