2015 will see the launch of the ASEAN Economic Community (AEC) in South
East Asia, the member countries have based their cooperation on “three
pillars”, which are security, sociocultural integration, and economic
integration.
The Thai government's planning
agency has recently released a workshop presided by Prime Minister Yingluck
Shinawatra, the result has confirmed what the business community feared most,
that several industries remain unprepared and lack the supporting industries.
As a result, The government has outlined its strategy to prepare Thailand's
entry to the AEC.
The outlined strategies include
the promotion of competitiveness; the improvement of quality of life or the
development of basic infrastructure and logistics system to enhance
connectivity.
The study pointed at the
weaknesses of several sectors, amongst them the Rice and rubber, where Thailand
is number one exporter, saying that they have high export potential, but the
productivity is so low that it has become a concern as Thailand could lose its
export ranking to other neighboring countries. The report underlined the
country's need to invest more in research and development.
The tourism and services sectors
did not score better as language skills are not a forte in the country but
badly needed for workers, now that other countries are opening up to tourism
such as Myanmar.
The study also found that customs
procedures and border trade regulation improvements were not implemented as it
was promised by the government or were simply delayed due to several factors,
such as heavy bureaucracy or Government agencies lack of unity and synergies in
management when it comes to implement new rules or laws.
Prime minister Yingluck
Shinawatra seems committed to pushing for Thailand readiness for the ASEAN
economic community in 2015, but economists say that the reality of the
industrial sector's lack of competitiveness will eventually take toll on the
country compared to more prepared neighbors".
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