On 17 June 2024, the Council of the Organisation for Economic Co-operation and Development (OECD), which comprises the permanent representatives to the OECD from its member countries, has decided to invite Thailand to start accession discussions, making Thailand an OECD candidate country.

The decision is a monumental step towards Thailand’s membership in the OECD, for which Thailand submitted the Letter of Intent on 12 February 2024. Going forward, Thailand and the OECD will draft the Accession Roadmap to set the goals, conditions and timeframe for the alignment to and implementation of relevant OECD’s instruments. When the Roadmap is successfully implemented, the OECD Council will consider inviting Thailand to become a member.

The decision attests to the fact that Thailand shares values and goals with OECD members; namely, democracy, rule of law, human rights and open and transparent market economy, and that Thailand conducts impactful economic diplomacy at all levels and has continuous and meaningful cooperation with the OECD. Moreover, the decision, taken by consensus among OECD members, also reflects close and cordial relations between the members and Thailand.

The accession process may take many years to complete. Nevertheless, from the early stages, various reforms will help Thailand attract more foreign investment, increase income, improve the living standard of the people, and also increase Thailand’s role in international policy-making. The Thai government is firmly committed to advancing the accession process towards its successful completion.  The process will be inclusive, involving all stakeholders, with the Ministry of Foreign Affairs and the National Economic and Social Development Council as the focal agencies.