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Address by

Dr. Pichet Wangtepanukhor

Advisor to the Minister of Foreign Affairs of Thailand

at the First Mekong-ROK Business Forum

at Centara Grand & Bangkok Convention Centre at Central World

23 May 2013

Your Excellency Mr. Kim Kyou-hyun (คิมคยูฮยอน), Vice Minister of Foreign Affairs of the Republic of Korea,

Your Excellency Mr. ปิยวัชรนิยมฤกษ์,Vice Minister of Industry of Thailand,

Ladies and Gentlemen,

May I start by commending the Republic of Korea for initiating Mekong-ROK Cooperation in 2011, which led to the initiative in organizing today’s Mekong-ROK Business Forum.

On behalf of the Deputy Prime Minister and Minister of Foreign Affairs of Thailand, who is presently accompanying the Prime Minister on an overseas mission, I would like to welcome you to the 1st Mekong-ROK Business Forum co-hosted by Thailand and the Republic of Korea.

The Republic of Korea has been a close friend of the Mekong countries for decades. It is one of the leading trading partners and investors in the Mekong countries. At the same time, Korea has been very successful in promoting its culture to the Mekong peoples. This is evident in the popularity of K-Pop and Korean series and films that are warmly welcomed here.

This sense of friendship and appreciation also lays a firm foundation for us to maintain the momentum of our dynamic relations and to strengthen it even further. Together, we can combine our efforts for a stronger partnership for economic prosperities.

Such aspirations can hardly be successful without engaging the private sector who is the key driver of the sub-region’s economic engine. The Mekong-ROK Business Forum is, therefore, the right action at the right time. Let me share with you why I believe so.

First, this forum will provide the Mekong-ROK private sector with information on regulations and procedures for doing business in this sub-region, as well as our efforts to facilitate trade and investment.

Mekong countries are very dynamic and are making great efforts to achieve sustainable economic growth. In addition to having abundant land, natural resources and labour, Mekong countries are enhancing connectivity both in infrastructure development or hardware connectivity and facilitation of procedures or software connectivity. A good example is the endeavour to upgrade road links and facilitate cross-border transit of goods and passengers. Moreover, we are in the process of upgrading cross border check points and establishing special economic zones along the border areas. This will help ease the flow of trade and further increase trade and economic growth.

In this regard, coordination among relevant authorities of countries in the sub-region such as customs, immigration and quarantine is essential. To successfully harmonize cross-border regulation and procedure, I encourage Mekong countries to consider setting up a mechanism for officials to regularly update each other on any policy or regulation change. It could also function as contact point for consultation in case of urgency.

I am certain that the private sector is enthusiastic to know more of

what the Mekong countries have to offer. The details of this topic will be discussed in the plenary session after this luncheon.

Second, this sub-region is a part of ASEAN which is moving towards becoming an ASEAN Community in 2015. This means that countries in the region will be more closely integrated. To be more specific, the ASEAN Community envisages a single market and production base.

ASEAN is currently among the top five import and export markets for Korea. Once ASEAN fulfills its goal to be a single market and production base, coupled with the benefits from the ASEAN-ROK Free Trade Area, trade and investment between ASEAN and Korea will be greatly facilitated and enhanced.

Third, Korea has accumulated expertise and know-how that can support the economic growth of this sub-region in a sustainable direction. The Green Economy is one important area that we can learn valuable lessons from the Korean experience. How do we strike a balance between development and conservation, or in other words between a wealthy economy and a healthy environment. Such experience and expertise sharing will enable Mekong countries to better manage their vast resources for future generations, while also overcoming the middle income trap.

Beside the three elements mentioned earlier, I would like to take this opportunity to draw our distinguished guests’ attention that coordination among relevant authorities such as customs, immigration and quarantine is also essential. I am aware that there has been on-going cooperation among countries in the sub-region for years. Therefore, I encourage Mekong countries to explore the existing mechanisms and strengthen them to successfully harmonize cross-border regulation and procedure. This will include the mechanisms that enable officials to regularly update each other on related policy or regulation. Contact points for consultation in case of urgency should also be set up to serve this purpose.

Therefore, our Mekong countries can ensure foreign investors including the Korean that our region be one of the best for investment.

Distinguished Guests,

I am pleased to learn that there will be business consultations after the plenary session. This will provide an important opportunity for Mekong-ROK business representatives from various sectors like food, hospitality, textiles and automobile parts to network and discuss business prospects with potential business partners. The Mekong countries welcome investment in every sector and will be very happy indeed if any deal could be developed from this initial consultation.

I would also like to thank all the distinguished speakers who will be sharing their insights and perspectives with us this afternoon. I also thank the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) of Thailand and the Ministry of Foreign Affairs of the Republic of Korea for the close coordination and full support that makes this business forum possible.

I wish this Mekong-ROK Business Forum great success and hope that all participants will share and learn information valuable for future business and cooperation.

Thank you for your kind attention.

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