Global economic uncertainty and geopolitical shifts demand a renewed commitment to international order and deeper cross-border integration, Finance Minister Ekniti Nitithanprapas has told a high-level panel at the 2026 IMF–World Bank Group Annual Meetings in Bangkok.
Speaking during a session titled “Building Resilience in a Fragmented World,” Ekniti stressed that the fundamental principles governing global trade and business strategies have undergone a paradigm shift, forcing both nations and corporations to prioritise economic security over traditional cost efficiency.
“Economic fundamentals today are changing in fundamental ways across countries and businesses,” Ekniti said. “In the past, efficiency was the core focus. Today, it is security, driven by a universal push to diversify markets and build supply chain resilience.”
The Finance Minister outlined three primary transmission channels through which global fragmentation impacts national economies: trade, finance, and investment.
Citing Thailand’s heavy reliance on external energy resources, he highlighted the necessity of active market diversification in an increasingly volatile global landscape.
“Thailand is a net importer of energy, with over 50% of our supply currently sourced from the Middle East,” he explained. “To mitigate geopolitical risks, we are actively diversifying our energy imports across alternative regions, including Latin America.”
“Fortunately, Thailand has benefited from market diversification,” he noted. “Our Foreign Direct Investment (FDI) applications have surged by roughly 47%, and our primary goal now is converting those approvals into actual, on-the-ground capital investment.”
Addressing regional governance, he argued that standard regional collaboration frameworks are no longer sufficient to cushion member states against severe global energy shocks and supply chain disruptions.
He called on Association of Southeast Asian Nations (ASEAN) member states to establish stronger, interconnected frameworks to enhance collective resilience, positioning Thailand as a “trusted connector” between regional blocs and global markets.
“Regional cooperation alone is not enough; we must link these frameworks more deeply,” Ekniti said. “We need to build trust globally, just as we must build trust at home locally.”
He emphasised that open economies must pair market access with domestic capability building, warning that long-term stability depends on human capital development and rule-based governance.
“As we open our economy, we must find continuous ways to upgrade the productivity of our workforce,” Ekniti concluded. “We are entering a new horizon, one that requires empowering our people and restoring international order.”
