Bangkok (NNT/VNA) - TheInternational Institute for Trade and Development (ITD) has organised the Tradeand Development Regional Forum 2018 in Bangkok to foster regional cooperationin trade policymaking to meet the demands of the modern economy.
Dr. Mukhisa Kituyi, Secretary-General ofthe United Nations Conference on Trade and Development (UNCTAD), suggested thatgovernments look for opportunities to benefit from the changing globallandscape that is becoming more connected through technology and innovation. Headded that countries should expand their local production chains by leveragingtrade incentives.
The forum’s 2018 report indicated thatinvestment in the Asia-Pacific region has fallen by 23 percent, with Chinabeing the only country to see an increase in foreign direct investment, growingby 11 percent to an estimated 100 billion baht. Dr. Kituyi touted China’s OneBelt One Road Initiative as a key turning point for sustainable development inthe region.
Meanwhile, investment activity by theUnited States has shifted towards countries with low tax rates. Thailand lastyear received the second largest foreign investment after Singapore, at 18billion baht.-NNT/VNA
VNA