Thailand’s application to begin accession process for a membership of Paris-based Organization for Economic Cooperation and Development (OECD) has received “general support” from the group’s members, according to a well-diplomatic source.

The source said that at the first OECD Council’s meeting on Tuesday in Paris, the members expressed general support for the country’s ambition to become a member of OECD, which currently has 38 members. Thailand submitted the application on Feb 8, 2023.

The council’s discussion was focused on the evidence-based Framework for Consideration of Prospective Members, highlighting Thailand’s longstanding cooperation with the OECD for more than two decades, including through the Country Programme since 2018 and the Southeast Asia Regional Programme since 2014. The accession process will take around five years.

During the discussion, the OCED members also emphasised its desire to enhance its engagement and membership with the Indo-Pacific countries, as stated in the OECD Strategic Framework for the Indo-Pacific.

The OECD was founded in 1961 with the motto “better policies for better lives.” Its main purpose is to shape policies that foster prosperity, equality, opportunity and well-being for all.

It was built after the economic devastation of post-World War II and is now expanding its programmes and cooperation with other countries around the world.

Thailand was ranked number 30 out of 64 economies for competitiveness by the International Institute for Management Development (IMD) in its most recent annual rankings.

Apart from joining the OECD, Thailand is also aiming to open up its economy with foreign countries by signing additional free trade agreements