On 16 February 2026, the International Institute for Trade and Development (Public Organization) (ITD), in collaboration with the Ministry of Foreign Affairs, the Ministry of Commerce, UN Trade and Development (UNCTAD), and the Harvard Club of Thailand, convened an international academic forum titled “Navigating Global Trade Shifts: Insights from the UNCTAD Trade and Development Report and Strategic Implications for Thailand” at the Vithes Samosorn Hall, Ministry of Foreign Affairs, and via a hybrid platform. The event brought together over 150 participants from government agencies, the private sector, academia, and international organizations to examine global economic and trade trends based on the Trade and Development Report 2025 (TDR 2025) and to help shape Thailand’s strategic trade direction amid a rapidly changing global landscape.
The forum featured a keynote address by Supachai Panitchpakdi, former Secretary-General of UNCTAD and former Director-General of the World Trade Organization. Opening remarks were delivered by Sihasak Phuangketkeow, Minister of Foreign Affairs of Thailand, and Suphajee Suthumpun, Minister of Commerce, with welcoming remarks by Supakit Charoenkul, Executive Director of ITD.
In his keynote, Dr. Supachai highlighted that the global economy is facing structural uncertainties driven by geopolitical tensions, supply chain restructuring, and emerging trade patterns such as trade diversion, friendshoring, and re-globalization. He emphasized that modern economic diplomacy must move beyond traditional political dimensions to address geo-strategic economic issues comprehensively, while leveraging digitalization in international trade frameworks to enhance productivity and competitiveness, particularly for developing economies. He also warned of rising financial volatility stemming from capital flows, expanding capital markets, and debt-driven investments in technology and AI, underscoring the need for financial and trade resilience to manage global uncertainty.
The Minister of Foreign Affairs stressed that the TDR underscores a critical message: trade and finance must go hand in hand. Many developing countries continue to face structural constraints in accessing finance, making it essential to strengthen multilateral cooperation and integrate trade, financial, and development policies. Thailand’s economic diplomacy strategy therefore focuses on enhancing investor confidence, strengthening competitiveness, and expanding international partnerships, positioning Thailand as a reliable partner in evolving global supply chains while supporting SMEs and startups to access new global market opportunities.
The Minister of Commerce noted that amid heightened global fragmentation and uncertainty, Thailand remains committed to open, inclusive, and rules-based trade cooperation with all partners. Leveraging its strategic geographic location as a regional hub, Thailand is advancing FTA expansion, digital investment, infrastructure development, and workforce upskilling to support future industries, while promoting ASEAN digital economic cooperation frameworks to enhance market access, particularly for SMEs.
During the technical session, UNCTAD representatives, Anastasia Nesvetailova, Head of the Macroeconomic and Development Policies Branch, and Nicolas Maystre, Senior Economic Affairs Officer, Division on Globalization and Development Strategies, presented key findings on global economic and trade dynamics. They highlighted the growing “Trade-Finance Asymmetry” as a major systemic risk, driven by capital concentration, geo-economic shifts, and rising public debt in low-income countries, with more than 35 out of 68 countries facing high debt distress risks.
UNCTAD further emphasized that climate risks are exacerbating financial vulnerabilities, creating a critical nexus between debt, finance, and climate that threatens future global stability. The speakers called for urgent reform of the international financial architecture to support sustainable development, including broader systemic risk oversight covering shadow banking, more effective debt restructuring mechanisms, and enhanced climate finance for mitigation, adaptation, and loss and damage.
They also noted that global trade is increasingly shaped by the Global Financial Cycle, including liquidity conditions, exchange rates, financial market risks, and monetary policies of major economies. While global trade is estimated to grow by around 4.4% in 2025, downside risks are expected in 2026, particularly in goods trade, due to tariffs, trade uncertainty, and financial volatility, with developing countries and SMEs being the most vulnerable.
The forum concluded that trade, finance, geopolitics, and climate are deeply interconnected in the modern global economy. Integrating insights from TDR 2025 into Thailand’s policy framework will be crucial for strengthening economic stability, enhancing long-term competitiveness, and reinforcing Thailand’s role as an open, balanced, and responsible actor in the global trading system, ensuring sustainable and inclusive growth in the years ahead.
