Thais give talks at un trade meet

Supalak G khundee

The Nation

Accra, Ghana

Foreign Minister Noppadon Pattama led a delegation to present the Thai model of development, notably His Majesty the King's sufficiency economy philosophy, and its role in helping neighbouring countries.

Thailand will highlight its regional cooperation in trade and investment such as in Asean, the Greater Mekong Sub-region (GMS), the Ayawady-Chao Phya-Mekong Economic Cooperation Strategy (Acmecs) and Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec), he said.

The United Nations Conference on Trade and Development (Unctad) will discuss four key elements of economic development for developing countries, including a coherent global financial system, trade and investment regime for sustainable economic development and poverty reduction.

Ministers and senior officials will also discuss key current issues facing the world economy such as the soaring price of energy and commodities.

Rising demand and prices for oil, gas and other commodities mean a boom for some countries, but economic hardship for others, said a senior Thai official who closely monitored Unctad. The continuing exploitation and consumption of fossil fuels is devastating the climate, requiring the development of alternative energy sources, such as biofuels.

However, speculation on biofuel consumption has raised commodities prices.

The issues to be discussed in the Unctad are how developing countries prospering from the community boom can translate the revenue into long-term development goals.