Royal Thai Embassy organised a business roundtable discussion on Thailand’s Bio-Circular-Green (BCG) Economy Model to deepen economic partnership between Thailand and the UK into the new post-pandemic era.

Royal Thai Embassy organised a business roundtable discussion on Thailand’s Bio-Circular-Green (BCG) Economy Model to deepen economic partnership between Thailand and the UK into the new post-pandemic era.

วันที่นำเข้าข้อมูล 3 Oct 2021

วันที่ปรับปรุงข้อมูล 3 Oct 2021

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On 30th September 2021, Ambassador Pisanu Suvanajata, in cooperation with the Public Policy Project (PPP) Institute, chaired a hybrid business roundtable discussion on Thailand’s Bio-Circular-Green (BCG) Economy, the country’s national agenda to put Thailand on track to building back a healthier, greener and more inclusive economy in the post COVID-19 at Mitra Samakhom Ballroom, Royal Thai Embassy London. This hybrid roundtable was attended in-person and virtually by 50 participants from the UK’s government and leading business enterprises and moderated by Ms. Claire Perry O’Neil, the UK’s former Minister of State for Climate Change and Energy and former Parliamentary Under-Secretary for Transport. Mr. Mark Garnier MP, UK PM’s Trade Envoy for Thailand and Mr. Stephen Hammond MP, the former Minister of State for Health and Social Care and former Parliamentary Under-Secretary for Transport, were specially invited to share their thoughts and provided policy suggestions.
This live event was organised with an aim to promote the awareness of Thailand’s BCG economy model as well as to identify economic potentials and opportunities for trade and investment collaboration between businesses of Thailand and the UK. The roundtable consisted of 3 key sessions of presentations by the high-ranking officials from the relevant authorities in Thailand, who joined virtually, including 1) An Overview of the Bio-Circular-Green Economy Model by Dr. Janekrishna Kanatharana, Executive Vice President of National Science and Technology Development Agency(NSTDA), 2) BCG Opportunities in the EEC by Dr. Luxmon Attapich, Deputy Secretary-General of Eastern Economic Corridor Office (EECO), and 3) BCG and Thailand’s Export Market by M.L. Kathathong Thongyai, Assistant Director General of the Department of International Trade Promotion, Ministry of Commerce. Each presentation was followed by comprehensive discussions and exchanges of opinions focusing on potential opportunities in Thailand for UK businesses. Also discussed are regulatory reform, workforce upskilling and the upgrade of digital infrastructure for agri-tech, which are important to operate the BCG efficiently.
On this occasion, Ambassador Pisanu reiterated that BCG model is Thailand’s new economic framework for a higher and sustainable growth, better opportunities for all and with the least possible environmental impact in the post pandemic and into the future that could lift Thailand out of the Middle-income trap. The BCG model presents new mutually beneficial opportunities for Thailand and the UK as both countries are on the same page of the green-based revolution, particularly in the 4 flagship industries, such as (1) food and agriculture, (2) medical and wellness, (3) sustainable energy, and (4) tourism and creative economy. The meeting agreed that these areas entirely fall under the UK’s expertise and competitive edge and could be the venues to intensify the UK’s further pro-active economic footprints in Thailand through mobilising more investments in the EEC area. Thailand hopes to substantially increase the UK investment in the EEC in coming years to achieve a sustainable growth at about 5% per year hereafter, so EEC can become the new national growth engine for Thailand.

The roundtable has fortified the participants’ confidence on Thailand’s national development strategy which is contributing to mutual benefits and consistent with the global trend in the post pandemic era. Attendees have shown a great interest in the BCG model and its business collaboration potentials, particularly in circular and creative economy where Thailand has already made progress in applying the BCG model to design and develop products from waste and byproducts. Some of these products are already available in the UK and EU markets.

The roundtable participants also welcomed the conclusion of the MOU on the establishment of Joint Economic and Trade Commission (JETCO) between Thailand and the UK earlier this year which is an important step closer to the start of the Free Trade Agreement negotiation between the two countries.

The Royal Thai Embassy is delighted to once again act as a hub where diplomacy bridges Thai policy makers with UK’s leading entrepreneurs in this live hybrid event, jointly organised with the Office of Commercial Affairs of Thailand in the UK, to enhance new trade and investment collaboration between Thailand and the UK. Thought sharing and suggestions from this BCG trade and investment promotion event will be inputs for our future plan to promote a closer and stronger post Covid economic partnership between Thailand and the UK further.

 

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