NLA considers its first international draft treaty to establish AMRO


BANGKOK, 4 September 2014 — The main agenda of the day’s National Legislative Assembly (NLA) meeting was an urgent consideration of the approval of an MOU to establish the ASEAN+3 Macroeconomic Research Office (AMRO). The MOU, put forward by the Leader of the National Council for Peace and Order (NCPO), was the first draft treaty the government proposed to be approved by the NLA.

Mr. Rungson Sriworasat, Permanent Secretary of the Ministry of Finance, acting on behalf of the Minister of Finance, explained that the draft treaty would establish the AMRO, funded by signatory countries (ASEAN plus China, Japan and Korea). The AMRO would monitor and analyse regional economies, contribute to early detection of risks, and swiftly implement remedial action. He believed establishing it would increase economic confidence in Thailand and other member countries.

Members of the NLA gave support to establishing the AMRO to strenghten the ASEAN, and recommended extending it to include India, Australia, and New Zealand to strengthen the whole region of countries. They also recommended establishing a commission to study details of the draft treaty, to achieve the greatest benefit for Thailand. After the discussion, the NLA approved it with 176 votes.