Thailand to highlight energy transition plan at ASEAN and APEC summits
Thailand will highlight its energy transition program, along with the efforts to deal with grey businesses, money laundering, technology crime and drug trafficking at the ASEAN and APEC summits in the Philippines next week, Prime Minister Anutin Charnvirakul said in his weekly “Talking with PM Anutin” TV program broadcast today.
He outlined the government’s plans to transition from fossil oil to clean energy, which include the promotion of biofuel use and the installation of solar rooftops, to reduce dependence on fossil fuels.
He said that the government has promoted the use of biofuels, such as E20 and B20, by slashing excise taxes. The consumption of B20, after a 10 baht/litre price cut, has increased from 6 million litres/day to 10-11 million litres, while E20 has increased from 4 million litres/day to 6-7 million litres, said the prime minister.
The increased use of biofuels has not only reduced imports of fossil fuels and outflows of foreign exchange, but has also increased the demand for energy crops, such as palm, sugarcane and tapioca, which are used in the production of biofuel.
Thailand to highlight energy transition plan at ASEAN and APEC summits
As for the solar rooftops project, he said the government has agreed to provide a subsidy of 50,000 baht each for households installing solar rooftops to reduce their electricity bills. If they generate surplus energy, it can be sold to the electricity grid.
On regional economic cooperation, the prime minster said that it is not necessary for all member countries to move forward together. Instead, he said countries can form smaller partnerships, citing the example of the Laotian cooperation on hydropower, cooperation with Vietnam on logistics and exports, and cooperation with Malaysia and Singapore on leveraging their economic and strategic strengths.
Thailand, he said, must look beyond the domestic market, noting that foreign investors who set up basses in Thailand can connect with ASEAN and beyond.
The APEC forum is an important space for consultations with large economies, he noted and, regarding tariff talks with the US, he said the important thing is not whether he meets the US president as much as concluding the agreement on reciprocal tariffs.
“In negotiations, we have to benefit and our negotiator must feel that both sides are benefitting mutually,” he opined.
ASEAN and APEC summits therefore provide an opportunity for Thailand to showcase its strengths on energy, investment, infrastructure and cooperation for economic stability and market expansion, he concluded.
Thailand to highlight energy transition plan at ASEAN and APEC summits