On 20 January 2016, the Department of International Economic Affairs, Ministry of Foreign Affairs, in collaboration with the Organization for Economic Cooperation and Development (OECD), held a Seminar on“OECD Economic Outlook for Southeast Asia, China and India 2016: Enhancing Regional Ties.” Mr. Apichart Chinwanno, the Permanent Secretary for Foreign Affairs, delivered opening remarks. The event was moderated by Mr. Chutintorn Gongsakdi, Director-General of the Department of International Economic Affairs. The panelists included Mr. Kensuke Tanaka from OECD, Dr. Suthad Setboonsarng, former Deputy Secretary General of ASEAN, and representatives from the Office of the National Economic and Social Development Board (NESDB), the Ministry of Finance, and the Bank of Thailand.

          Mr. Kensuke Tanaka, Head of Asia Desk, OECD Development Center, reported that the trend of economic growth rate in ASEAN is more promising comparing to that of other regions. The trend, however, could be affected by the economic slowdown in China. Successful ASEAN economic integration could only be realized through a more synchronized economic policy, narrower development gap, and better follow-up system to measure the progress of the economic integration. Thailand should focus on improving macroeconomic policies and promoting tourism in order to boost its medium-run economic growth.

          The panelists highlighted that other factors that could influence the economic growth in Thailand and ASEAN are the fluctuation of oil prices, proposal to have common economic goals for ASEAN member countries, and a closer cooperation with the OECD on policy recommendations.

          “OECD Economic Outlook for Southeast Asia, China and India” is an annual report by the OECD Development Center. The paper, which is accessible from http://www.oecd.org/dev/asiapacific/SAEO2016_final_web.pdf, focuses on major mid-term macroeconomic trends in ASEAN, China and India or the “Emerging Asia”, and the regional economic integration process in light of the post-2015 ASEAN Economic Community.

          Founded in 1961, OECD has played an important role in strengthening the economy of its member countries through higher efficiency in management, promotion of free trade, and provision of assistance for development. OECD is one of the world’s best research centers which provides excellent global research database and offers its members with consultation, research, and recommendations on best practices. Members of OECD include the European Union and 34 developed countries. The organization has continuously enhanced its cooperation with other non-member countries including Thailand.