11 July 2024

APEC leaders wrapped up their two-day summit in Bangkok by endorsing a leaders’ declaration, committing to Thailand’s “Bangkok Goals” on a bio-circular-green economy and the realisation of a free trade area for 21 APEC economies, with seamless border crossings.

Thai Prime Minister Prayut Chan-o-cha hailed the 29th APEC Summit held in Bangkok as the collective success of all APEC member economies, as he urged them to continue to work for sustainable growth and futures for the countries in the region.

He said that this is the first time in four years that leaders of the 21 APEC economies have met face to face and that the summit provided a forum for the exchange views on issues of common interest, with special guests from France and Saudi Arabia.

He said the summit also provided a forum for APEC leaders to converse with the private sector under an umbrella organisation, the APEC Business Advisory Council, which has made several proposals for the leaders’ consideration. Voices of the younger representatives of APEC countries were also heard during the summit, he added.

The leaders’ declaration has incorporated Thailand’s BCG economy, under the concept of being open to all opportunities, connected in all dimensions and balanced in all aspects for development of a sustainable future, said the prime minister, adding that APEC must strive to create a free trade area, known as the FTAAP, by drawing up a work plan covering the capabilities and readiness of individual countries to cope with trade and investment.

He said that the BCG economy concept will drive the development of an economy which is inclusive, sustainable and friendly to the environment.

He thanked all participants for their cooperation and hard work in making this summit a success.

Ending his speech, he handed a bamboo basket, a symbol of APEC, to US Vice President Kamala Harris, as the US assumes the chair of APEC.