Chiang Mai to showcase BCG economy for grassroots at Apec summits

The spotlight will focus on how Thailand’s bio-circular-green (BCG) economy model is aiding sustainable recovery, said Foreign Ministry permanent secretary Thani Thongphakdi on Friday.

Thailand is hosting four meetings of the 21-member Asia-Pacific Economic Cooperation (Apec) forum – two in September and one each in October and November.

Apec, which accounts for 62 per cent of global GDP, plays a critical role in determining the direction, policies and standards of global trade and investment.

Thani said Thailand will host 1,000 delegates and representatives attending over 100 Apec-related meetings throughout the year. 
 

This was an excellent opportunity to demonstrate the country's competitiveness, particularly among local MSMEs, which account for more than 70 per cent of business in the country, he told the Apec Media Focus Group forum at Chiang Mai University.

Cherdchai Chaivaivid, director-General of the Department of International Economic Affairs, said it was critical for Thailand's MSMEs to think outside the box and adapt to trends in order to grow in the aftermath of Covid.

"Profit is no longer the number one priority in business,” he said, on the topic of "Sustainable MSMEs, Women, and Business".
“However, being responsible for your community and the environment will eventually pay off.”

Thailand has over 3.1 million MSMEs in total, with Chiang Mai accounting for about 100,000.

The northern capital will offer practical examples of how small businesses are using the BCG model to recover and thrive, the Foreign Ministry said.

Akom Suwanganta, president of the Federation Thai SMEs, Chiang Mai Chapter, said Chiang Mai residents understand the importance of sustainability after suffering PM2.5 air pollution for years.

"Our members work with researchers to find ways to improve both their products and the process of running their businesses by using more environmentally friendly methods,” Akom said. 

Their focus is on “fewer carbon emissions, less waste, less energy consumption, and greater community responsibility", he added.

Local entrepreneurs are also benefiting from increased support under Chiang Mai’s five-year provincial development plan (2023-2027). Value-added agriculture is one of the key drivers. 

Under the BCG model, high-value processed agriculture and food innovations of the future will be developed, as will trade and investment based on the creative economy, innovation, and sustainability.

Pitiwat Wattanachai, president of Chiang Mai University's Science and Technology Park, said the institution is helping local business owners to apply technology and innovation to boost operations.

He cited Hillkoff, a local hill-tribe coffee brand that is using the texture of the beans to create new products like coffee balsamic. Other new MSMEs are launching into business by enhancing and expanding on previous research, he added.

The Foreign Ministry is hosting an Apec exhibition at Central Festival Chiang Mai until August 30. The aim is to promote awareness and benefits of Apec membership to Chiang Mai businesses and locals.