Trade Protectionism Tops PM’s G20 Agenda

Bangkok - Prime Minister Abhisit Vejjajiva goes to the G20 summit in London this week to press members on the need to counter trade protectionism and promote global financial reform.

Mr Abhisit, as chairman of the Association of Southeast Asian Nations (Asean), will leave Bangkok at noon today to attend the G20 (a meeting of representatives of 20 of the world’s richest and emerging economies).

In an address on foreign policy yesterday to mark the 25th anniversary of the opening of the Devawongse Varopakarn Institute of Foreign Affairs, Mr Abhisit said he was confident his message at the summit would be acknowledged. He said he planned to address four main issues, including a call for coordination of monetary and fiscal policies, the need to fight against trade protectionism, the need to arrange financial assistance for countries in need, and a call for the reform of international financial institutions.

He said he was aware international financial institutions such as the International Monetary Fund already have assistance facilities for developing countries but, as chairman of Asean, he still had concerns.

The prime minister yesterday briefed about 100 diplomats from 72 countries on his government’s foreign policies, saying the country still needed support from other nations to help it develop.

He said long-term partnerships were needed to help the nation progess.

At the same time, the government will continue its bilateral and tripartite assistance for development and humanitarian purposes in neighbouring countries. The building of a rail link between Vientiane in Laos and Nong Khai and funding for Burma to help rebuild religious sites destroyed by Cyclone Nargis last year were examples of assistance projects Thailand contributes to in neighbouring countries.

Mr Abhisit told the diplomats his government’s economic stimulus packages included the establishment of rural funds for longer-term sustainable development, a job training programme for at least 500,000 jobless and new graduates, the 2,000-baht cash handout for low-income earners, special funds for senior citizens, and free education programmes.

The government is also seeking loans from international financial institutions not because it lacks foreign capital reserves but because those reserves could not be used for development and infrastructure projects under Thai law. Anucha Charoenpo

Source: http://www.bangkokpost.com
Photo credit: http://www.cbc.ca

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