Thailand offered ideas for a constructive partnership between major emerging economies and developing countries to ensure sustainable economic recovery at the 14th BRICS Plus Summit.
Prime Minister and Defense Minister General Prayut Chan-o-cha attended the 14th BRICS Plus Summit (BRICS Plus High-Level Dialogue on Global Development) via teleconference on Friday, according to government spokesman Thanakorn Wangboonkongchana. June 24. The meeting brought together leaders from the five BRICS countries and 13 emerging market and developing countries (EMDC). The 14th BRICS Plus Summit was held under the theme: “Fostering a Global Development Partnership for the New Era to Jointly Implement the 2030 Agenda for Sustainable Development”.
While addressing the meeting participants, General Prayut expressed his honor to attend the BRICS Plus dialogue and commended China for its BRICS Plus initiative to reach out to the EMDCs in these turbulent times. He also stressed the importance for countries to work together to overcome crises by revitalizing multilateralism to work towards greater resilience, balance and equity. The Thai Prime Minister also offered three ideas on how the BRICS and EMDCs can work together to chart a course for a sustainable economic recovery.
First, he said multilateralism must be revitalized to effectively navigate and respond to current and future challenges. He also suggested that countries join efforts to strengthen supply chains and improve connectivity at all levels to ensure wide access to food and essential needs.
Secondly, General Prayut highlighted the importance of balancing multilateralism with a more responsible and environmentally conscious mindset, explaining Thailand’s bio-circular-green (BCG) economic model, which reflects this concept. .
Finally, he called for urgent institutional reforms to strengthen the participation of Southern countries in the coordination of macroeconomic policies. He noted that the current crisis is also an opportunity to consider how to build resilience to future uncertainties by increasing the use of national currencies in transactions, integrating cross-border payment systems and developing a fairer tax system for fight growing polarization.
The Prime Minister also affirmed Thailand’s support for China’s initiative to formalize the BRICS Plus engagement with the EMDCs in building a global partnership for development and a peaceful environment conducive to a effective conflict de-escalation. As host of APEC and Chair of BIMSTEC, Thailand stands ready to play its part in building bridges of cooperation from the Indian Ocean to the Pacific for the shared prosperity of people and future generations. (NNT)