Thailand to Boost Productivity and Value Addition Amid Global Shifts

Key summary

Dr. Kirida Paopichit, Deputy Minister of Commerce, outlined Thailand's strategy at the JFCCT Affiliated Program during the IMF and World Bank Annual Meetings in Bangkok. Emphasizing geopolitical, technological, and environmental changes, she highlighted six key strengths: balanced economic relations, strategic location, energy infrastructure, logistics, supply chains, and FTA networks. To achieve high-income status by 2087, Thailand needs an average real per capita GDP growth of 5.4% annually compared to 2.2% from 2021-2024. The government focuses on three balances (income, market, goods) and five reforms (regulatory review via Thailand FastPass, skills development, foreign investor linkage, high-value services competitiveness, and fair rules). With 14 existing FTAs covering 18 countries, Thailand aims to reach 20 FTAs by leveraging new agreements with EFTA, Bhutan, Sri Lanka, UAE (CEPA expected 2070), EU, and Canada-ASEAN. Initiatives include FTA GO, Boost up SMEs, DFT SMART C/O, NSW/ASW data linking, and India-Thailand Regional Co-creation Partnership in five sectors. Thailand also concluded the DEFA digital trade agreement in May 2026 for signing in November.