Informal WTO meet airs concerns over trade barriers, Pichai says

Most attendees at an informal World Trade Organisation (WTO) ministerial gathering expressed concerns over intensifying barriers that would affect global trade, Commerce Minister Pichai Naripthaphan said on Saturday.

He made this remark after the gathering at Hotel Morosani Schweizerhof in Davos, Switzerland, which representatives from 24 WTO member countries such as the European Union, China, Japan, Australia, Brazil and India had attended.

Pichai said he had emphasised the WTO’s important role in promoting multilateral trade to cope with intensifying trade tensions. 

He urged WTO member countries to work together on launching measures to mitigate the impacts of trade barriers. “The WTO has an objective to ensure fair and inclusive trade expansion,” he said.

He also said he hopes the 14th WTO Ministerial Conference in Cameroon in March next year will see development in agriculture, food security, fishery, digital trade and the environment.Pichai further explained that the gathering had discussed new issues, such as a borderless digital economy that needs laws and regulations to keep up with globalisation. 

Thailand’s Digital Economy Framework Agreement has received support from WTO member countries, he said, adding that Thailand wants to accelerate the agreement process as soon as possible.

He asserted that the digital economy will benefit Thailand a lot, affirming that the country has readiness in digital infrastructure, electricity, technology and investment of more than 1 trillion baht.The Thai economy is expanding gradually with export growth of 5.4% last year, he said, adding that Prime Minister Paetongtarn Shinawatra’s visit to Davos had boosted Thailand’s attractiveness for investment.

He also promised that the government will tackle economic issues and attract investment, which could help mitigate people’s debt burdens. 

“I believe that under the prime minister’s leadership, Thailand will reach a golden era in trade and investment,” he said.

(2025/01/25-00:00)