The immediate context of this event, held on February 16th, 2026, underscores the shift in strategic thinking surrounding international trade. The UNCTAD’s 2025 report, prominently featured, argues that the traditional model of unbridled globalization is fracturing. Following the economic turbulence of the preceding decade, nations are prioritizing self-reliance and robust domestic capacity. This sentiment echoes the core tenets of UNCTAD X, held in Thailand in 2018, which centered on poverty reduction and productive capacity building – goals now viewed through the lens of a more volatile and fragmented global economy. “Reglobalization,” as termed by UNCTAD, represents a move towards a multi-polar trade system, potentially reducing the dominance of established economic blocs and fostering a greater emphasis on regional partnerships. This concept, as articulated by Foreign Minister Sihasak Phuangketkeow, underscores a deliberate strategy to shape Thailand’s role in this new global architecture.
Historically, Thailand’s foreign policy has been shaped by its strategic location and its historical ties to both China and Western powers. The 1989 Treaty of Amity and Cooperation with ASEAN, designed to foster regional stability and economic integration, remains a foundational element. Prior diplomatic incidents, such as the 2014 political unrest and its impact on international relations, serve as a reminder of the fragility of established partnerships and the importance of robust domestic stability. The rise of China as a major economic and political force has consistently influenced Thailand’s strategic considerations, prompting a balancing act between engagement and cautious distance. Today, Thailand’s response to reglobalization is largely driven by the assessment that the established multilateral system – while still desirable – requires significant adaptation and strengthening.
Key stakeholders involved in this evolving landscape include ASEAN member states, particularly Indonesia and Vietnam, who are also actively shaping trade policies; the European Union, grappling with internal divisions and pursuing its own strategic trade initiatives; and, crucially, China, whose economic influence continues to grow, prompting both opportunity and risk for Thailand. According to Dr. Anastasia Nesvetailova, Head of the Macroeconomic and Development Policies Branch at UNCTAD, “Countries must build internal resilience, invest in social development, maintain fiscal discipline, and diversify trade risks, while advancing reforms of the global trading system to support development and reduce inequality.” This echoes a sentiment shared within the Thai government’s strategic framework, focusing on diversification across trading partners and sectors.
Data from the World Trade Organization (WTO) reveals a continued, albeit uneven, growth in global trade volume, defying some predictions of deglobalization. However, the WTO’s latest trade policy review highlights increasing trade tensions and the rise of protectionist measures, particularly among major economies. Furthermore, the 2025 UNCTAD report emphasizes the importance of strengthening regional financial mechanisms to manage volatility – a concern acutely felt in Southeast Asia given the region’s significant reliance on commodity exports. As Aaron Batten, Country Director of the Asian Development Bank (ADB) in Thailand, stated, “Countries must strengthen domestic resilience, diversify risks, reform the global trading system to better address the needs of developing countries, and enhance regional financial mechanisms to cope with future volatility.”
Looking ahead, over the next six months, Thailand is likely to solidify its focus on strengthening regional trade ties within ASEAN, particularly through initiatives aimed at streamlining trade procedures and facilitating investment. Continued negotiations within the Regional Comprehensive Economic Partnership (RCEP) will be critical. Longer-term, the impact of reglobalization will be determined by the geopolitical landscape. A more fragmented global order could lead to a prolonged period of trade disputes and protectionism, hindering Thailand’s export-oriented economy. Conversely, a renewed commitment to multilateralism, alongside strategic regional partnerships, could unlock significant economic opportunities. “Development-led globalization,” as suggested by Dr. Supachai Panitchpakdi, is a guiding principle, demanding a commitment to sustainable development and inclusive growth.
The seminar’s success in translating UNCTAD’s insights into actionable policy reflects Thailand’s commitment to proactive diplomacy. However, the challenges remain substantial. Thailand’s ability to navigate this “reglobalization” crucible – a period of heightened uncertainty and strategic realignment – will hinge on its agility, its commitment to regional cooperation, and its willingness to adapt its economic and foreign policies to the evolving realities of the 21st-century global economy. The conversation surrounding Thailand’s strategic direction, particularly concerning trade, investment, and regional alliances, requires continuous scrutiny and open dialogue, fostering a collaborative approach to shape a future of shared prosperity and regional stability.