PM Prayut wants to bridge G77 and G20

 

Prime Minister Prayut Chan-o-cha told leaders of the Group of 20 advanced industrialized economies that Thailand is ready to serve as a bridge between the Group of 77 developing nations, which Thailand chairs, and the industrialized group, while speaking at the Group of 20 summit in Hangzhou, China last week.

“Countries must join forces to build a new kind of cooperation and become the vehicle of the 21st century driving the global economy to a new path of development and creating a global partnership with no limits on cooperation,” Prime Minister Prayut told the assembled leaders, which included United States President Barack Obama.

Although Thailand is not a member of the Group of 20 (G20), the Prime Minister was invited to attend the summit because of Thailand’s leadership role of the Group of 77 (G77). Thailand was elected chair country of the G77 in January for a one-year term, succeeding South Africa. The Prime Minister will chair the G77 summit at the United Nations headquarters in New York later this month.

Prayut told G20 leaders that greater cooperation and interdependence between advanced and developing nations would benefit both groups and help turn around the global economic slowdown. He called on the G20 to support G77 countries to develop products with local resources and knowledge, and create regional brands. This will help the G20 expand markets for products, stimulating growth.

Thailand has supported the G20’s structural reform agenda, Prayut said. The reforms are aimed at building strength, sustainability and maintaining a balance in development. Those goals correspond with the goals of Thailand’s 20-year national development strategy known as Thailand 4.0. The strategy seeks to create more sustainable and inclusive economic growth by transitioning to a more innovative, creative and knowledge-based economic model.

The Prime Minister will also present a national position paper when he attends the G77 meeting in New York on September 22.

The paper highlights the Sufficiency Economy Philosophy of King Bhumibol Adulyadej.  It outlines nine principles:  support for sustainable economic development, international security and peacekeeping, development in Africa, support for human rights, efficient coordination on humanitarian aid, support for international justice, weapons reduction, organizational development, and combating transnational terrorism, crime, and drugs.

The meeting takes place during annual United Nations General Assembly meeting, the theme of which this year is “The Sustainable Development Goals: a universal push to transform our world.”

Photo credit: www.mfa.go.th