G77 ready to cooperate with UNCTAD, says Thai PM

BANGKOK, March 10 (TNA) - Thai Prime Minister General Prayut Chan-ocha says that the Group of 77 (G77) members are ready to cooperate with the United Nations Conference on Trade and Development (UNCTAD) in order to achieve sustainable development. Deputy Government Spokesman Major General Werachon Sukondhapatipak quoted the prime minister as informing visiting UNCTAD Secretary-General Mukhisa Kituyi of the G77 stance during their meeting at Bangkok's Government House on March 9. The Thai prime minister stressed that Thailand, as the Chair of G-77 this year, will work closely with UNCTAD, while proposing that there should be a mechanism to help strengthen cooperation between the world's developing and developed countries. "Developing countries, such as the G-77 members, have a joint power significantly and a combined large-sized market with bargaining power because the grouping has abundant raw materials and jewellery, the deputy spokesman quoted the Thai premier as telling the UNCTAD chief. Besides, the Thai leader expressed his view that international cooperation should begin with domestic growth of each economy with the participation of the “People, Public, Private Partnership” (PPPP) in order to create and sustain benefits to every concerned party genuinely without leaving anyone behind. The Thai prime minister also proposed that the 14th UNCTAD Ministerial Meeting, set to be held in Kenya later this year, focus on using trade and investment as a tool for boosting economic expansion of each country on a sustainable basis and improving international economies to prevent any economic crisis. The UNCTAC chief is in Bangkok to attend the G77 High-Level Panel of Eminent Personalities on South-South Cooperation this week. (TNA)