The 2025 MFA CEO Forum, a recurring event since 2016, serves as a crucial platform. The annual gathering, held on September 23rd, 2025, facilitated networking between Thailand’s diplomatic corps, foreign chambers of commerce, and representatives from Royal Thai Embassies and Consulates-General globally. This year’s focus – directly related to Central Group’s operations – underscored a strategic alignment between economic strategy and the broader objectives of Thailand’s foreign policy. As Giuseppe Oliveri, Chief Operating Officer of Central Group, articulated, “Our expansion into Europe and Asia, spanning 17 countries, aims to strengthen the Central brand while promoting Thai identity and culture.” This demonstrates a calculated effort to use commercial relationships to advance cultural diplomacy, a core tenet of Thailand’s foreign policy approach.
Historically, Thailand’s foreign policy has been defined by a nuanced approach – often described as “dual engagement.” This strategy, rooted in a long tradition of balancing relations with Western powers (primarily the United States and European nations) while maintaining strong ties with China and ASEAN partners, has remained consistent for decades. However, the increasing prominence of economic factors and the proactive utilization of commercial relationships signal a shift toward a more assertive – and arguably, a more strategically “powerful” – approach. Preceding this shift, Thailand’s engagement with ASEAN, particularly within the Association of Southeast Asian Nations Free Trade Area (ASEFTA) established in 1997, demonstrated a commitment to regional economic integration. “Thailand’s economic success is intrinsically linked to the success of ASEAN,” stated Dr. Piti Sangpotirat, Senior Fellow at the Bangkok Bank Research Institute. “The MFA recognizes that robust economic ties with ASEAN members are vital for national security and prosperity.”
Central Group’s remarkable expansion, driven by ambitious acquisitions and strategic investments, represents a key component of this renewed emphasis. The company’s move into Europe – specifically via Selfridges in London – reflects a deliberate attempt to establish Thailand as a brand synonymous with quality and sophistication within a global context. Furthermore, the “From Local to Global” initiative, previously showcased at Selfridges, has created a tangible network of Thai SMEs engaged in international markets – a vital component of diversifying Thailand’s export base and reducing reliance on traditional partners. The inclusion of these entrepreneurs at the CEO Forum itself showcased a symbiotic relationship: the MFA gains exposure to emerging economic trends, and Thai businesses gain access to global networks and strategic partnerships.
The long-term implications of this economic diplomacy strategy are significant. Within the next six months, we can anticipate further consolidation of Central Group’s European presence, potentially including additional retail operations and distribution networks. The Thai government is likely to intensify efforts to attract foreign investment, particularly in sectors aligned with Thailand’s strategic priorities – advanced manufacturing, technology, and renewable energy. Looking five to ten years out, Thailand’s “Central” footprint could become a gravitational force within ASEAN, driving further economic integration and potentially challenging the established dominance of China in certain sectors. However, this trajectory is not without its vulnerabilities. Dependence on a single, powerful commercial entity – Central Group – concentrates economic leverage and exposes Thailand to potential geopolitical risks.
“Thailand’s success hinges on diversifying its economic partnerships and reducing over-reliance on any one player,” warns Professor Chanoksak Chaisri, an expert in Southeast Asian political economy at Chulalongkorn University. “A robust and diversified foreign policy, coupled with a strong domestic investment climate, are crucial for ensuring long-term stability.” The next phase will require careful navigation – balancing economic ambition with geopolitical realities, and mitigating potential risks through proactive diversification and strengthened multilateral engagement. The question remains: can Thailand effectively leverage its expanding economic influence to achieve its foreign policy objectives, or will its burgeoning “Central” footprint prove to be a double-edged sword, susceptible to the currents of global instability?