Remarks by H.E. General Prayut Chan-o-cha (Ret.)

Prime Minister of the Kingdom of Thailand

at the Plenary Session of the 6^th Eastern Economic Forum (EEF)

“Through crisis towards rejuvenation”

A search for ways of growth in a post-pandemic period

on Friday 3 September 2020 via video conference

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H.E. President of the Russian Federation,

H.E. President of the Republic of Kazakhstan,

H.E. President of Mongolia,

Distinguished guests,

1. I wish to express my sincere appreciation to President Putin for inviting me to the 6^th Eastern Economic Forum, an important venue for leaders and high-level representatives to exchange views with world-leading companies and to find a new way forward toward a sustainable post-COVID-19 recovery and growth.
   
   
2. Many countries, including Thailand, are still facing challenges from the COVID-19 pandemic. Though vaccines have been developed, their rollouts in many regions have proceeded at a slow pace and not in an inclusive manner, particularly in developing and low-income countries. Economists share views that to overcome this health crisis, we must ensure that all countries have access to, and inclusive distribution of, COVID-19 vaccines as soon as possible. In this regard, I urge that COVID-19 vaccines be considered as global public goods and also urge that all countries with high inoculation rate share vaccines with all regions in order to facilitate international travel. 
   
   
3. For Thailand, the Government and all relevant sectors are doing their utmost to provide vaccines for all residents in the country. We aim to inoculate at least 70 percent of the population by the end of this year. In addition, our medical team and researchers are developing homegrown vaccines, some of which are already in the phase of clinical trials on human with satisfactory result. More importantly, Thailand has potential and readiness to be a vaccine production base and distribution hub in the Mekong Subregion and South East Asia.
   
   
4. In the meantime, the International Monetary Fund (IMF) and the World Bank reported a worrying figure that in 2020 nearly one hundred million people have fallen into poverty. This figure points to the ongoing challenges that will continue into the post-COVID 19 period, especially the widening development gap and inequality. With these in mind, all countries should adhere to multilateralism and further reinforce inter-connectivity based on sustainable development that leaves no one behind.
   
   
5. While we continue combating and learning to live with the COVID-19,
   I deem it important for all countries to integrate policy packages that strike a balance between the economic, social and environmental aspects. Allow me to share our ideas on the 3 main keys to pandemic recovery during this “new normal” era.
   
   
6. The first key to pandemic recovery is the promotion of sustainable development that is well balanced between economic development, technology advancement, social equality and environmental sustainability. Thailand has adopted the Sufficiency Economy Philosophy (SEP) as a development approach, focusing on strengthening from within, promoting human empowerment and security, as well as building resilience to future uncertainties.
   
   
7. In implementing the SEP, Thailand has applied the economic model known as Bio-Circular-Green Economy or BCG, which aims at developing bioeconomy, circular economy and green economy. The BCG model is driven by new technologies and innovation to build upon Thailand’s strengths in agriculture, biodiversity and cultural diversity. In this regard, we are pleased to exchange our experiences with all countries in such areas as smart farming, innovations for agro-food industry and sustainable tourism. This BCG model serves as one of the approaches to a sustainable, balanced and inclusive growth, and also corresponds with the United Nations Sustainable Development Goals (SDGs).
   
   
8. The second key to recovery lies in enhancing competitiveness in industrial and labour sectors as well as strengthening the inter-regional supply chains. The International Labour Organization (ILO) estimates that the global unemployment is expected to stand at 205 million people in 2022, surpassing the level of 187 million in 2019. This figure reflects disruption of the global economy induced by the pandemic, in particular among the MSMEs due to their limited capacity to respond to shocks and disruptions.
   
   
9. Thus, for sustainable recovery, we need to make greater use of digital technology. We need to transform traditional trade into digital trade and to ensure international ecosystem as well as domestic law and regulation that are conducive to digital trade growth. This includes promotion of
   e-signature recognition, restructuring of labour sector that is resilient
   and adaptive to new market, including upskilling and reskilling of human resources essential for the digitally transformed future. 
   
   
10. Of no lesser significance is to accelerate free trade agreement (FTA) negotiations between countries and regions. Currently, Thailand has FTAs with 18 countries and 1 economy. We hope to conclude more FTAs with other key economies in different regions, including the Eurasian Economic Union (EAEU), which is a highly potential market in the Eurasian region. In this regard, Thailand will continue constructive dialogue with EAEU member countries, including Russia and Kazakhstan, to move this crucial agenda forward.
    
    
11. The third key to recovery lies in forging connectivity between regions. Taking part in this Eastern Economic Forum, I realize the prospect of the Far Eastern Region as a linkage between Russia and the Asia-Pacific, which is in line with Russia’s Greater Eurasian Partnership. I see opportunities for both regions to further cooperate in order to reinforce connectivity in infrastructure, trade and investment, tourism as well as to exchange ideas on developing the special economic zones.
    
    
12. On our part, Thailand is developing the Eastern Economic Corridor or the EEC, located along Thailand’s eastern coastlines and renowned for its world-class tourist destinations. This EEC shares similar elements with Russia’s Far Eastern Region centered around Vladivostok. I see that the two regions are brimming with potentials, and can become gateways to each other. With EEC strategic location in Southeast Asia, excellent infrastructure and modern investment incentives, we welcome foreign investment in the EEC, in particular, in digital technologies, health and well-being, and smart logistics. 
    
    
13. Tourism connectivity is another top priority for all countries as tourism is a key economic growth engine that is badly hit by the pandemic. Therefore, it is important that we start resuming cross-border travel. Thailand is taking a step-by-step approach to reopen the country to tourists, which started in July 2021 with the Phuket Sandbox and the Samui Plus Programme. Such programmes will expand into other areas in the country, should the situation permits. In the meantime, we should initiate discussions on the international travel guidelines and mutual recognition of vaccine certificates in order to facilitate travel and tourism industry in the future.
    
    

Distinguished guests, 

14. The COVID-19 crisis has caused the deepest global recession since the Second World War. In order to reinvigorate our economies, we need to work hands in hands at all levels. Thailand reaffirms our readiness to continue working actively on this agenda with all partners in the United Nations and regional organisations such as ASEAN, ACMECS, BIMSTEC, ASEM and APEC. 
    
    
15. As APEC Chair in 2022, Thailand will focus on the post-COVID-19 recovery with emphasis on trade and investment facilitation, reconnecting in all dimensions, especially travel and tourism, and inclusive and sustainable growth. All of these must be driven by digital technologies and innovations in order to achieve tangible results.
     
16. Thailand stands ready to welcome delegations of APEC member economies in Thailand in 2022, which will be the first time for APEC leaders to meet in person since the APEC Summit in Papua New Guinea in 2018. I look forward to welcoming President Vladimir Putin and all APEC leaders to the APEC Summit. 
    
17. The aforementioned 3-key concept for recovery coincides with the Sustainable Development Goals of the United Nations. I look forward to working closely with all of you to drive forward our regions that are sustainable, resilient and leave no one behind.  

Thank you.

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