Thailand: Apec, the ministerial meeting focuses on the review of the growth strategy

The ministerial meeting of the APEC Economic Leaders’ Week is underway in Bangkok, Thailand Asia-Pacific Economic Cooperation. The meeting is chaired by Thai foreign ministers, Don Pramudwinai, and of Commerce, Jurin Laksanawit. “The world is grappling with hyperinflation coupled with recession, a disrupted and scarce supply chain, climate calamities, as well as a precariously outdated mode of production that badly needs recalibration in light of technological innovation,” he said. premised Don. “The fourth industrial revolution, which has already made its irreversible entry into the world, invites us to rethink our growth strategy in terms of greater sustainability and inclusiveness and, above all, more balance”, explained the minister.

“Open, connect, balance” is, in fact, the theme of the program of appointments, in the Queen Sirikit National Congress Center, where they are discussing how to move the region forward towards a sustainable and inclusive recovery in the context of current challenges. The ministerial meeting precedes and prepares that of the leaders, scheduled for tomorrow and the day after (November 18 and 19), which will be chaired by the Thai prime minister, Prayuth Chan-o-cha. Among others, the Chief Operating Officer of the International Monetary Fund (IMF), Kristalina Georgieva will speak. Among the most awaited leaders, also in view of important bilateral meetings, are the president of China, Xi Jinping, the prime minister of Japan, Fumio Kishida, and the president of France, Emmanuel Macron, invited as a guest.

Yesterday and the day before yesterday (15 and 16 November) senior officials met who, according to reports from the Thai Foreign Ministry, identified three priorities: facilitating trade and investment, reconnecting the region and promoting growth based on “Bio-Circular-Green” (BCG) model. Yesterday was also presented the report on the economy, focused on the “green recovery”, which shows that the proportion of fiscal stimulus devoted to green initiatives is still quite small, although spending in this direction could be beneficial. “Consistent, consistent and predictable policies are needed for effective green structural reforms,” is the conclusion.

Yesterday the work of the Apec Business Council also concluded, which proposed a series of actions and defined the work program for 2023 on the theme “Equity, sustainability, opportunities”. Previously, the health working group launched an information portal on international travel within the region, in the context of the recovery of cross-border movement after the COVID-19 pandemic. The initiative is called “Safe passage Apec” and aims to summarize and explain information on travel protocols, drawing on official resources. Apec is an intergovernmental forum, established in 1989, which includes 21 members of the Pacific ring: Australia, Brunei, Canada, Chile, China, South Korea, Philippines, Japan, Hong Kong, Indonesia, Malaysia, Mexico , New Zealand, Papua New Guinea, Peru, Russia, Singapore, the United States, Taiwan, Thailand and Vietnam.

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