Prayut to exchange views with Apec leaders

At the summit, held under the theme “Shaping the Future through Asia-Pacific Partnership”, the host China would highlight regional economic integration, economic innovation and growth as well as regional connectivity, the Thai Foreign Ministry said yesterday. 

Prayut will focus on three issues, namely regional economic integration, promotion of sustainable development and promoting integrated networks, and development of basic infrastructure that are line with development policies and strategies highlighted by the Thai government, an official said.

The premier will also explain his vision and exchange views with leaders and leading businessmen from Apec countries. 

Thailand can learn from Apec members who specialise in certain economic sectors. New knowledge and technology can help increase the country’s competitiveness, the official said.

Apart from attending a meeting with leaders, Prayut will also attend the Apec Business Advisory Council.

He will also have a chance to strengthen bilateral ties, restore confidence in the country and boost economic cooperation, the official added.

It was reported earlier that Prayut would endorse an agreement reached earlier by Deputy Prime Minister and Defence Minister Prawit Wongsuwan and his Chinese counterpart on the rail link from Laos to Nong Khai and Bangkok as well as a rice-purchase deal. 

China agreed, in principle, this week that it would invest in developing a dual railway in Thailand in exchange for rice and rubber. The cost of construction has not yet been determined, but Beijing agreed to accept the payment in the form of farm products. However, the barter may not cover the entire cost of construction. Hence, the Thai side has agreed to take a soft loan from China to cover the difference, the source said. 

Beijing would use the Apec meeting to promote the establishment of the Asian Infrastructure Investment Bank, a new financial institution set up to support physical connectivity in the region. Thailand had earlier expressed its intention to join the bank as a founding member.