11 July 2024

Thai Prime Minister Prayut Chan-o-cha opened the summit of APEC leaders today (Friday) with a call for balance, inclusivity and sustainable growth for countries in the Asia-Pacific region, as envisaged in Thailand’s Bangkok Goals for a Bio-Circular-Green (BCG) economy.

On Thursday, ministers from APEC’s 21 economies welcomed the Bangkok Goals, initiated by the Thai Government to address environmental and climate issues.

APEC leaders will also have informal discussions with Thailand’s guests on the promotion of sustainable trade and investment between APEC economies and their trading partners. Another meeting is scheduled for this afternoon between APEC leaders and the APEC Business Advisory Council.

Prime Minister Prayut said he wants the APEC Summit to discuss ways in which leaders can help transition to sustainable economic growth and development. They are also expected to address climate change and free, fair and sustainable trade and investment.

It remains to be seen, however, whether they be able to agree on a post-summit declaration.

At about 5.30pm, APEC leaders and their spouses are scheduled to have an audience with His Majesty the King at the Chakri Throne Hall in the Grand Palace.

Separately, Thailand and Saudi Arabia are due to sign MoUs on the promotion of bilateral relations between the two countries, including cooperation on labour affairs, on the establishment of a council of cooperation between the two countries and on cooperation in the promotion of direct investment and economic cooperation.

The Saudi delegation is led by Crown Prince and Prime Minister Mohammed bin Salman, the first by led by a high-level Saudi leader in 32 years.