Thai model presented in UNCTAD

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

Thailand will highlight its regional cooperations in trade and investment such as in the Asean, Greater Mekong Sub-region (GMS), The Ayeyawady - Chao Phraya - 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) would intensively discuss four key elements of economic development for developing countries including coherence the global financial system, trade and investment regime for sustainable economic development and poverty reduction.

Ministers and senior officials from mostly developing countries would also discuss key current issues of the world economy such as soaring price of energy and commodity.

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

However, Speculation of bio-fuel consumption raised the commodity price.

Indonesia would propose the linkage between energy and food security into the discussion aiming to uplift the debate into discussion of the high level meeting during the UN General Assembly late this year. 

These issues to be discussed in the UNCTAD are how developing countries that are prospering from the community boom can translate the revenue into long-term development goal, said Sihasak Phuangketkeow, Permanent Representative to UN and Other International Organizations in Geneva.

The group of 77, which is the driving force of the UNCTAC and Thailand also a member, held its ministerial meeting in Ghana Sunday coinciding with the UNCTAD meeting to identify key trade and development issues for poverty reduction.

By Supalak Ganjanakhundee

The Nation