Thailand sets up economic diplomacy plan to navigate volatile global trade

Bangkok [Thailand], January 17: Thailand's Ministry of Foreign Affairs on Friday announced its strategy for economic diplomacy, designed to navigate global trade volatility and shield its export-dependent economy from rising trade protectionism.
Speaking after a meeting with private sector leaders, Foreign Minister Sihasak Phuangketkeow outlined the new approach, which centers on building confidence in the Thai economy, enhancing competitiveness for local businesses, and fostering collaboration with international partners.
Sihasak emphasized that as businesses pivot toward digital and green economies, Thai diplomacy must help attract investment and advanced technologies into the country.
Navigating a fragmented world order, the minister addressed the challenges posed by the erosion of global trade rules and the rise of unilateral measures by major powers.
"In an era where trade rules are shaking and major powers are using tariffs as tools for non-trade objectives, we must find allies to help uphold international rules," Sihasak said.
The briefing also covered the ministry's agendas, including leveraging Thailand's global network to gain access to key decision-makers, balancing traditional markets with new frontiers, and strengthening the nation's role in regional frameworks to enhance connectivity.
Source: Xinhua