Thailand prioritises sustainable, balanced and inclusive development in APEC 2022

Bangkok – In the upcoming Asia-Pacific Economic Cooperation (APEC) Chairmanship Year 2022, Thailand will focus on promoting sustainable, balanced and inclusive development across the socio-economic and environmental aspects that can be enjoyed by all.

Thailand will officially assume this position, handed over by New Zealand on November 12.

Recently, Thai Prime Minister Prayut Chan-o-cha had a discussion with his New Zealand counterpart Jacinda Ardern on the hand-over and Thailand’s priorities in the next 365 days.

With the theme “Open-Connect-Balance”, the Thai Government wants to use the opportunity to create “a new chapter” in Thailand’s economic development in the post-COVID-19 world that is sustainable and balanced.

The first principle is “open” which means open to all opportunities and, as such, the APEC members should be open to free trade agreements that would facilitate trade and investment with a people-centred approach.

The second principle is “connect” which has a pretty broad scope and the Thai chair envisages the connectivity of all three elements of time, space and people as a means to foster economic recovery for the region as well as for the rest of the world in sustainable ways.

The third principle is “balance” and in this Thailand seeks to promote balanced growth and development in an inclusive way.

The three principles also relate well with the country’s new economic model, known as the Bio-Circular-Green Economy, or BCG.