Thaksin: ‘No Agreement’ to Facilitate My Return

Ex-Prime Minister Thaksin Shinawatra Attracts 1,400 Attendees at Business Forum Following Pardon

Former Prime Minister Thaksin Shinawatra addressed a large audience of over 1,400 attendees at a business forum in Bangkok on Thursday, marking his first major public appearance post-pardon. During the event, Thaksin firmly denied any political deals that facilitated his return after 15 years in exile. “There is no deal, no one dares to negotiate with me,” stated Thaksin, a prominent figure in the Pheu Thai Party, during an on-stage interview.

Thaksin returned to Thailand last August after receiving a royal pardon that reduced his eight-year prison sentence to one year. He served his time in a police hospital and was granted parole in February, emerging as a free man just last week.

During the forum, he expressed confidence that the Pheu Thai government could address the country’s economic challenges and prevent further decline. Thaksin emphasized the necessity of the party’s proposed 450-billion-baht digital wallet initiative to invigorate the sluggish economy, stating, “We need to stimulate the economy as our country has grown slowly for a long time. [The handout] will provide an immediate boost in September.”

Despite speculation regarding potential modifications to the handout aimed only at the needy, Pheu Thai remains committed to implementing the plan in some form, possibly as cash assistance.

Advocating for Economic Protection

In a broad-ranging discussion, Thaksin urged Thailand to adopt “small steps of protectionism” to shield its economy from an influx of low-cost Chinese products, advocating for equitable competition. “We don’t dislike Chinese products, but we must ensure equality in competition,” he remarked.

Addressing economic policies, he highlighted the urgent need to tackle Thailand’s high household and public debt, stressing that the government and the Bank of Thailand must collaborate while maintaining independence. “Thailand and its people are trapped in debt,” he warned, suggesting that a comprehensive debt restructuring initiative for households and businesses is essential.

The finance minister and key ministries should take the lead in resolving the ongoing debt crisis as Thaksin spoke to an audience of leading bankers, business executives, and politicians at the “Vision for Thailand” forum.

This event coincided with the anniversary of Thaksin’s return to Thailand after fleeing corruption charges in 2008. Though he is not expected to take on any official role within the current government, his influence on the policies of Prime Minister Paetongtarn Shinawatra’s administration is anticipated to be significant, especially as she works to revitalise an economy hindered by high household debt, sluggish exports, and rising living costs.