14:07 | 04/07/2018 Cooperation
The International Institute for Trade and Development (ITD) has organized the Trade and Development Regional Forum 2018 in Bangkok to foster regional cooperation in trade policymaking to meet the demands of the modern economy.
|The ITD has organized the Trade and Development Regional Forum 2018 in Bangkok to foster regional cooperation in trade policymaking to meet the demands of the modern economy - Source: thainews.prd.go.th|
Dr. Mukhisa Kituyi, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), suggested that governments look for opportunities to benefit from the changing global landscape that is becoming more connected through technology and innovation. He added that countries should expand their local production chains by leveraging trade incentives.
The forum’s 2018 report indicated that investment in the Asia-Pacific region has fallen by 23 percent, with China being the only country to see an increase in foreign direct investment, growing by 11 percent to an estimated 100 billion baht. Dr. Kituyi touted China’s One Belt One Road Initiative as a key turning point for sustainable development in the region.
Meanwhile, investment activity by the United States has shifted towards countries with low tax rates.
Thailand last year received the second largest foreign investment after Singapore, at 18 billion baht.