FRIDAY, April 19, 2024
nationthailand

  Apiradi ready for Apec meets 

  Apiradi ready for Apec meets 

THAI Commerce Minister Apiradi Tantraporn will take part in the Asia Pacific Economic Cooperation (Apec)’s Ministers’ Meeting and Economic Leaders’ Meeting in Vietnam, scheduled for today until November 11, aiming to build up new dynamism and promote a united future for the Asia Pacific region. 

Apiradi said these meetings would be the last for this year and all implementation results would be reported back to the ministers and leaders for further suggestions. 
The key issues at the meetings include regional economic integration for Bogor Goals in liberal trade and investment within 2020 and joint implementation of Apec after 2020 to cope with global changes and developments.
In 2020, Bogor Goals will end and international economic environment will change with support factors for economic growth and new technologies, requiring Apec to review its roles and implementation to cope with expected changes.
Meanwhile, “Apec towards 2020 and Beyond” was discussed in Peru, which also hosted Apec meetings last year and discussions of this topic would continue in this year’s meetings in Vietnam.
Apec would also discuss the arrangement of Free Trade Area – Asia Pacific (FTAAP) to promote regional economic integration. 
“Apec is a cooperative mechanism to help Thailand reach international standards and facilitate trade and investment through projects, academic and regulatory cooperation. This is on a voluntary basis,” Apiradi said.
Thailand also gained from its Apec membership in its drive towards the country’s development goals, such as digital economy, innovation, and sustainable broad-based growth.
Apec consists of 21 economies including Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, Vietnam and the United States.
In 2016, Thailand’s trade with other Apec members totaled US$286.91 billion or 69.98 per cent of the country’s total trade. 
From January to September this year, the country’s trade with Apec amounted to $235.77 billion or 69.62 per cent of the nation’s total trade. 
 

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