Thailand
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Yingluck Shinawatra became Thailand's first female prime minister in 2011 at age 45, bringing fresh leadership and promise. She has worked to restore trust and maintain stability while revitalizing bilateral relations, including with the UK. A new Strategic Dialogue agreement between Thailand and the UK established a forum to strengthen cooperation across trade, investment, education, defense and more. Thailand has experienced strong economic growth in recent years and seeks deeper international economic ties under Shinawatra's leadership.
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Thailand
- 2. • When Yingluck Shinawatra became Thailand’s first ever female Prime Minister following her landslide victory in the August 2011 elections, the businesswoman turned-politician’s relatively youthful age of 45 made her the country’s youngest leader for more than 60 years, immediately resulting in an injection of fresh new life and promise into the nation and its governance. • Mrs Shinawatra has successfully begun to win back the trust of the Thai people, maintaining social and economic stability and now the revitalization of bilateral relations with the United Kingdom.
- 3. • It appears that now, in taking heed of the continued royal amity and their non-forgotten pledge, the nations’ current political leaders are intent on pursuing an entirely different relationship of their own. • As a result of Mrs Shinawatra’s mission to Westminster last winter, an unprecedented agreement was made with the Cameron administration over the establishment of a Strategic Dialogue that will act as a “high-level, consultative forum to set and monitor the future of bilateral cooperation in all areas”.
- 4. • The new mechanism for communication is expected to bring a regular platform for both countries to exchange views on various matters of mutual interest, aimed at intensifying the already healthy relations and sparking a number of new socioeconomic initiatives and projects in the areas of trade and investment, tourism, education and defense, as well as serve as a vital arena in the exchange of innovational knowledge. • Economically speaking, there has long been a strong and active presence of the British private sector in Thailand.
- 5. • Thailand is certainly a formidable partner in these troubled economic times. Amid Europe’s sovereign debt crisis and a faltering global economy, Thailand’s GDP grew at an all time high of 18.9 per cent year- on-year in the final quarter of 2012. • Overall the Thai economy expanded by 6.3 per cent last year, a figure rendered all the more impressive considering 2011’s feeble increase of just 0.1 per cent, when the worst floods in almost 70 years swamped most of the country.
- 6. • In the past few years, Thailand has witnessed marked progress in its socio-economic development, and despite the political challenges it has suffered in recent times, the country has become a real success story of emerging nations, sustaining economic growth and large poverty reduction to go with it. • Now, under the leadership of Mrs Shinawatra, the Thai government is boosting spending to support growth, opening up the economy to greater foreign investment and seeking to develop deeper links with the rest of the developed world. Read the Country Report here