Thailand has used this week’s OECD Ministerial Council Meeting in Paris to reinforce its ambition of joining the Organisation for Economic Co-operation and Development (OECD) by 2028, presenting membership as a key pillar of its broader economic transformation strategy.

Speaking at the OECD headquarters during the annual ministerial gathering, Deputy Prime Minister and Foreign Minister Sihasak Phuangketkeow said industrial policy must evolve beyond supporting individual sectors and instead help economies navigate large-scale transitions toward greater competitiveness, resilience, and sustainability.

From manufacturing hub to future economy

Addressing ministers and policymakers under the theme “Getting Industrial Policies Right for Open Markets, Growth and Prosperity,” Sihasak said Thailand’s development model is entering a new phase.

After decades of using investment incentives, export-oriented policies, and foreign direct investment to transform itself into a regional manufacturing hub, Thailand now faces a different global landscape as investors increasingly prioritize workforce quality, innovation capacity, regulatory standards, and policy consistency above low labor costs.

Sihasak told the meeting that future industrial policy should focus on economy-wide transformation through skills development, lifelong learning, innovation ecosystems, digital infrastructure and green technologies.

He also stressed the growing importance of regional integration as supply chains, energy networks and investment flows become increasingly interconnected across borders.

OECD membership central to reform agenda

Thailand is currently undergoing technical reviews by 25 OECD committees as part of a process Sihasak described as “a major national priority.”

Last month at Government House, Pakorn Nilprapunt, Deputy Prime Minister for Legal Affairs, called the accession process one of the government’s most important priorities for raising Thailand to international standards.

Sihasak emphasized that OECD membership should be viewed as part of a wider modernization effort, noting that Thailand can contribute its own development experience to OECD discussions, thereby helping to strengthen engagement between advanced and emerging economies.

On the sidelines of the meeting, the Thai foreign minister held talks with OECD Secretary-General Mathias Cormann as well as senior officials from France, Japan, and Bulgaria to discuss economic cooperation and investor confidence.

Sustainability and investment opportunities

At a separate session on “Investing for Sustainable Growth,” Vice Minister for Foreign Affairs, highlighted policies aimed at attracting investment into future industries, including the government’s EV30@30 initiative, which targets electric vehicles accounting for at least 30% of national vehicle production by 2030.

Thailand’s Prime Minister Anutin Charnvirakul considers OECD accession as essential to boosting the country’s international credibility and attracting a new generation of investors.

“I believe the government has taken good care of the people of Thailand, whether through welfare programs, measures to support livelihoods, or by encouraging public participation and listening to people’s opinions,” Anutin said. “However, on the international stage, we must encourage the world to look toward Thailand and use Thailand as a place to create business opportunities and strengthen the country even further.”

As Thailand works through the lengthy accession process, the government is betting that the reforms required for membership will prove just as valuable as the destination itself. By modernizing regulations, strengthening governance, and attracting investment into future industries, the Kingdom hopes to position itself for a higher-growth future while delivering broader opportunities for its citizens.

Whether those ambitions are fully realized remains to be seen, but policymakers increasingly view the accession process itself as a roadmap for building a more competitive economy.

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