Thailand ranks 32nd in the world of GTMI 2024

PM Srettha Thavisin reveal Thailand ranks 32nd in the world of GTMI 2024
PM Srettha Thavisin reveal Thailand ranks 32nd in the world of GTMI 2024

Thailand ranks 32nd in the world and 3rd in ASEAN on the Global Trade Modernization Index (GTMI) 2024, showing the increasing number of Thai people using digital systems for international trade.

Prime Minister Srettha Thavisin believes it is an opportunity to increase competitiveness, reflecting progress from the government’s efforts to drive the use of digital technology.

Government Spokesperson Chai Wacharonke disclosed that the Global Trade Modernization Index (GTMI) 2024 is an index assessing economic readiness for the use of digital systems as well as the ability to compete in international trade (https://www.asiaglobalinstitute.hku.hk/global-trade-modernization-index).

Thailand ranks 3rd in ASEAN

Thailand ranks 32nd out of 65 countries and economies and 3rd in ASEAN, reflecting the success of the government’s continuous push for the use of digital technology following Prime Minister Srettha Thavisin’s policy to increase digital accessibility for the people to elevate the Thailand economy into the digital economy era.

Five indicators to measure the progress

According to the Government Spokesperson, the Asia Global Institute, the ICC Digital Standards Initiative, and the Milken Institute have created the Global Trade Modernization Index (GTMI). The index was create by collecting data from 65 countries and economies around the world to evaluate the economic readiness assessment for digital trade. These are 5 indicators selecte to measure the progress of trade modernization:

  • 1. Paperless trade: 30%
  • 2. Trade openness: 10%
  • 3. Regulatory: 10%
  • 4. Business readiness: 25%
  • 5. Human capital: 10%

A total score of 66.4 points

Thailand ranked 32nd with a total score of 66.4 points, classified as Paperless Trade 22.5%, Trade Openness 7.2%, Regulatory Environment 16.1%, Business Readiness 14.5%, and Human Capital 6.1%. It can be seen that each index has been evaluate with scores that exceed half of the specified criteria.

Recently, the government has emphasized promoting the use of digital technology and innovation related to IGNITE THAILAND,

pushing Thailand to be the “Digital Economy Hub.” Ready to develop a seamless transition into the digital age, such as cloud-first policy,

AI (Artificial Intelligence), e-government, and human capital.

“The Global Trade Modernization Index (GTMI) is consider as a progress in national development

which resulted from the Prime Minister’s vision and policies being implement. The Prime Minister always repeated that Thailand is ready for investment,

and the government will upgrade the Thai economy to the digital economy era. To create a high-value economy to raise the quality of life for people in all sectors, Mr Chai said.

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