Thailand urged to boost competitiveness

BANGKOK, November 11 (TNA) - Former ASEAN secretary-general Surin Pitsuwan has urged Thailand to enhance competitiveness, as the ASEAN Economic Community (AEC), with greater business competition, is scheduled to be formed by the end of this year. While delivering a speech on the Thai economy in 2016 in Bangkok on Wednesday, Dr. Surin, who is also an ex-Thai foreign minister, stressed that Thailand must improve business competitiveness no matter whether the Kingdom would join the Trans-Pacific Partnership (TPP) trade agreement or not. Dr. Surin pointed out that four member countries of the Association of Southeast Asian Nations (ASEAN), including Brunei, Malaysia, Singapore and Vietnam, have joined TPP and foreign investors from Japan, the European Union (EU) and the United States could, thus, increasingly go to the neighboring countries. Therefore, Dr. Surin suggested, Thailand needs to increase business competitiveness. For the sake of economic survival, Dr. Surin advised, the Thai government and the private sector should encourage Thai investors to invest overseas, instead of conventionally trying to attract foreign investors to the country. Besides, Thailand should promote own products for exports, noting that most exports have been, so far, found to be the products of other countries. (TNA)