After months of uncertainty over Thailand's intentions, it is now official that the Paetongtarn Shinawatra administration has set an ambitious goal for the country to become a member of the Organisation for Economic Cooperation and Development (OECD) by 2030.
The deadline ends lingering doubts among OECD members about Bangkok's commitment. However, private sector representatives remain cautious about the country's pledges to reform due to its long history of political infighting.
OECD Secretary-General Mathias Cormann visited Bangkok last week and met with top Thai officials, including Deputy Prime Minister and Finance Minister Pichai Chunhavajira and Commerce Minister Pichai Naripthaphan. In a marked shift from past ambiguity, the Thai side expressed strong enthusiasm about joining the 38-member economic bloc. The government pledged comprehensive reforms to ensure the country meets all "technical requirements" for accession within the next five years. It is a tall order by any standard.
Just days earlier, Foreign Minister Maris Sangiampongsa attended a meeting of Brics foreign ministers and partners in Rio de Janeiro. At the meeting, he reiterated Thailand's intent to strengthen cooperation with members of Brics -- Brazil, Russia, India, China, and South Africa -- even as the country's hopes for full membership remain dim due to the bloc's ongoing moratorium on new members. Under Brazil, the current Brics chair has decided to consolidate the 10-member bloc (newer members are Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates) as the top priority. Thailand is a Brics partner.
The Brics bid, initiated by former Prime Minister Srettha Thavisin in June 2023, came at an awkward juncture. Thailand's application coincided with the OECD's deliberations on whether to accept the country's intention for accession. For months, the dual-track strategy has created confusion among Bangkok-based diplomats about Thailand's foreign policy priorities.
Truth be told, the Pheu Thai-led government made a blunder. While the Brics bloc remains geopolitically influential, particularly for countries seeking alternatives to Western-led institutions, it still needs further economic coherence and no clear enlargement plan. Indonesia became the group's 10th member earlier this year after a long wait, but Thailand's bid has stalled. Malaysia has also applied, yet no further enlargement seems imminent.
By comparison, after more than three decades of engagement, Thailand's momentum is building within the OECD framework. The organisation held its 2025 Southeast Asia Regional Forum in Bangkok last week, attended by Mr Cormann, featuring high-level speakers from some member countries, including Thailand, Indonesia and Vietnam -- three countries with active engagement in OECD processes. Indonesia has already submitted its formal application and is expected to be the first Asean member to join the OECD. Vietnam, while not yet an applicant, has aligned several of its domestic policies with OECD standards.
Thailand's challenge now lies in the implementation of structural reforms required for accession. The OECD has made it clear that prospective members must meet rigorous benchmarks in areas such as investment liberalisation, regulatory transparency, market openness, and competition policy. For Thailand, this means amending or updating as many as 220 domestic laws -- ranging from trade restrictions to investment regulations -- many of which are outdated or protectionist in nature.
Mr Cormann will visit Bangkok again later this year to follow up on Thailand's accession process. Sad but true, the government has not yet allocated sufficient human resources to tackle reforms aligning with 26 subcommittees as required by the OECD. The Ministry of Foreign Affairs needs more officials to accelerate reforms, especially in governance, anti-corruption, and environmental policies.
This technical phase will test the government's political will. Indeed, it can make or delay Thailand's intended accession timeframe. Though Thailand has boosted its trade with Asean neighbours as well as with dialogue partners under the Regional Comprehensive Economic Partnership in recent years, it continues to rely on non-tariff barriers and protectionist measures to shield domestic industries. These must be urgently addressed if it wants to gain credibility with OECD members.
At the OECD's business network sessions held in conjunction with the forum, foreign executives expressed cautious optimism but voiced concerns over Thailand's ability and capacity to follow through. Several questioned whether the country's fragmented bureaucracy and frequent leadership changes would derail the reform agenda. The country also lacks the human resources to benefit from high-tech and green economies.
During a plenary session, an important question was raised by an EU business executive concerning Thailand's education system's readiness to meet OECD standards. A Thai trade representative at the panel spoke in flawless English about the country's plan for the AI transition that will aid and raise the country's education standard. Unfortunately, it was a typical ready-made hollow answer that obviously could not boost potential investors' confidence.
Thailand's growing urgency comes from external pressure. With the rise of trade protectionism, especially under the US's latest hyper-tariff scheme, its economic growth is under threat, and it has limited bargaining power.
Reforms that enhance transparency and open trade and investment will help uplift the country's economic future.
In geopolitical terms, OECD membership serves the country's desire to be a bridge-builder between the developed and developing economies. It also shows that it is willing to play by international rules and participate in global standard-setting. For Thailand, accession would mark a significant pivot toward the richer economies, even as it maintains its strong links with developing countries and strategic hedging with Brics.
But diplomatic posturing and rhetoric will not be enough. OECD accession demands tangible and measurable progress. The government must now undertake its reform agenda through several legislative, bureaucratic, and political hurdles. This includes building public support -- the bottom-up process -- for a more open economy. It is a big challenge for a country recently hardened by economic nationalism.
Thailand has shown signs of pragmatism, fearing that it would be left behind. More action is needed from now on. Indeed, despite the government's firm commitment, OECD membership is neither automatic nor guaranteed. Can Thailand do it? That needs to be demonstrated sooner rather than later, and certainly not in five years.