Thailand took an important step forward towards accession to the OECD as Deputy Prime Mininster and Finance Minister Ekniti Nitithanprapas submitted Thailand's Initial Memorandum to OECD Deputy Secretary-General František Ružička in Bangkok. The Initial Memorandum is a preliminary self-assessment by Thailand of the alignment of its legislation, policies and practices with OECD standards. This submission launches the technical phase of the OECD accession process.
In line with Thailand's Accession Roadmap, adopted by the 38 Member countries of the OECD in July 2024, in-depth technical dialogue will now begin with 25 expert committees covering a wide range of policy issues including investment climate, financial markets, and regional development.
Throughout the accession process, the OECD Members and Thailand will engage in a series of dialogues that will support Thailand in bringing its legislation, policy and practices closer to OECD standards and best practices. In this way, OECD accession serves as a powerful catalyst for reform.
"The accession process to the OECD is a transformative journey that will support Thailand in developing a comprehensive reform agenda and strengthening the foundations for long-term growth and improvements in living standards, in line with Thailand's goal of achieving high-income status by 2037," Secretary-General Mathias Cormann said on the occasion. "The accession process is mutually beneficial, allowing Thailand to tap into OECD expertise and policy networks, while bringing unique insights and regional perspectives to the OECD's work."
Thailand also submitted its formal request to join the OECD Anti-Bribery Convention, one of the OECD's flagship standards that creates the legal foundation for countries to fight foreign bribery. Effectively implementing the OECD Anti-Bribery Convention is an integral part of the OECD accession process.
Thailand has been a valuable partner of the OECD for over two decades, including through two phases of a dedicated OECD-Thailand Country Programme since 2018, having participated in several OECD committees and adhered to a number of OECD standards prior to becoming an accession candidate. The OECD Council took the decision to open accession discussions with Thailand on 17 June 2024.
