Asia is gaining strategic and economic importance, says Thai prime minister
- Prayuth Chan-ocha said a new US-backed trade pact is further proof of how important and relevant Asia is today
- He stressed the need to increase growth by keeping markets open and inclusive as the world faces disruptions such as the pandemic and the Russian invasion
Thai Prime Minister Prayuth Chan-ocha said on Thursday that a new US-backed economic pact is further proof of how important and relevant Asia is today.
“Asia is still expanding and gaining more influence in terms of strategic and economic importance,” Prayuth said.
US President Joe Biden and Japanese Prime Minister Fumio Kishida announced earlier in the week during a visit by Biden to Japan that 13 countries have joined the Indo-Pacific Economic Framework, a new trade pact that will help the United States work more closely with Asian economies on issues including supply chains, digital trade, clean energy and anticorruption efforts.
The signatories are Australia, Brunei, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand, the United States and Vietnam. Together they represent 40 per cent of the world’s GDP.
Prayuth is in Tokyo to attend The Future of Asia organised by Nikkei Inc.