Prime Minister Anutin Charnvirakul has set a bold target of 2028 for Thailand to join the Organisation for Economic Co-operation and Development (OECD).
Such an ambitious deadline suggests he wants Thailand to secure membership during his term in office. That leaves the government with less than three years to achieve its OECD goal by amending at least 244 domestic laws, not to mention numerous policies.
In practical terms, the government and relevant ministries would need to amend about two laws every week. Given Thailand's notorious bureaucratic red tape and deeply divided lawmakers, it remains doubtful whether the target can be met.
Last week, Mr Anutin established a steering committee to oversee Thailand's OECD accession process. Chaired by the prime minister, the committee will coordinate cooperation between the National Economic and Social Development Council (NESDC) and the OECD. The new structure is intended to strengthen coordination among all relevant agencies.
It is unusual to see Mr Anutin taking the OECD bid so seriously. It has become one of the government's top priorities. The challenge now is whether he can mobilise the entire state apparatus to work towards the same objective.
Since taking office, the government has been confronted almost daily by issues related to governance and accountability. It must now demonstrate that it can deliver meaningful reforms.
In retrospect, joining the OECD has been Thailand's long-held ambition for more than three decades. Successive governments have believed membership would help the country escape the increasingly entrenched middle-income trap. The OECD is widely seen as a catalyst for reforms after two decades of disappointing economic performance compared with neighbouring countries.
Thailand's economic outlook is worsening amid increasingly volatile geopolitical tensions and a US-led trade war.
Thailand has been scrambling to diversify its export markets, improve the investment climate and attract more foreign capital in emerging industries. Truth be told, given the scale of the current economic disruption, the country's future growth will depend heavily on expanding export markets beyond its traditional reliance on the US and other Western economies.
Over the past several months, economic shocks have significantly affected living standards despite government assistance. As is well known, the government's fiscal room is shrinking. From May to June, the country recorded deficits totalling 500 billion baht. If this fiscal strain persists, it could undermine Thailand's efforts to escape the middle-income trap and become a modern, high-standard economy.
Among the Association of Southeast Asian Nations members, Indonesia and Thailand both began the OECD accession process in 2024. At the same time, both also sought closer ties with Brics. Indonesia made headway in January by becoming the first Asean member to join Brics, while Thailand, Malaysia and Vietnam became Brics partner countries.
During the brief Srettha Thavisin administration, Thailand's desire to join both organisations, despite their differing political orientations and memberships, puzzled many friends and allies. Under Mr Anutin and his ambitious OECD timetable, any further deepening of ties with Brics is likely to proceed more cautiously.
So far, judging from comments by both Thai and OECD officials, Thailand has made encouraging progress in its accession process. However, the path to Paris is paved with painful domestic reforms that Thailand has traditionally struggled to implement.
In discussions with Thai officials involved in the current OECD accession process, three broad priorities have emerged.
First, Thailand must build on its ongoing efforts to strengthen governance, transparency and public trust. It is also important for the country to accede to the OECD Anti-Bribery Convention, which requires robust legal and institutional frameworks to combat bribery in international business transactions.
Second, Thailand must align its domestic laws and practices with OECD standards, particularly in investment, financial liberalisation, labour relations and competition policy. These structural reforms will inevitably challenge powerful domestic monopolies and vested interests. Some may also increase business and labour costs in certain sectors.
Third, the Anutin government must adopt a whole-of-government approach while building broad national consensus.
Given the country's fragmented administration and outdated laws and regulations, meeting the OECD's requirements will take time. Because the reforms are comprehensive and far-reaching, they could also prove politically sensitive. A coordinated national effort will therefore be essential if Thailand is to meet the 2028 deadline.
For a democratically elected government, broad and sustained national consensus is crucial. Past experience has shown that international agreements involving economic and institutional reforms can face strong resistance from lawmakers, the private sector, workers, civil society, academia and the public.
More broadly, Deputy Prime Minister and Foreign Minister Sihasak Phuangketkaew has also outlined Thailand's OECD challenges. Speaking at the OECD headquarters in Paris last month, he said the country's economic transformation would require new priorities centred on artificial intelligence, semiconductors, data centres, electric vehicles and green manufacturing.
The government also aims to shift Thailand from being a technology user to a technology developer and innovator. Such a transition will require greater investment in people through skills development and lifelong learning, as well as deeper integration with regional supply chains, technology and energy networks.
All things considered, Thailand's ambition to join the OECD and become a high-income country by 2037 will require a high degree of economic competitiveness, resilience and sustainability. Other Asean members have already strengthened their economic structures and governance frameworks to attract foreign investment. It remains to be seen whether Thailand can match those efforts and meet OECD standards.
Kavi Chongkittavorn is a veteran journalist on regional affairs.
