Council chief explains the 5 key issues up for discussion at Apec leaders' summit
The Apec Business Advisory Council (Abac) chairman said the five points on the Asia-Pacific Economic Cooperation (Apec) Economic Leaders’ Meeting agenda would bring topics like inflation, food insecurity and climate change to the forefront.
Abac chairman Kriengkrai Thiennukul was speaking to The Nation on Tuesday. In the conversation, he said that Abac’s aim is to promote a global rules-based trading system and an Asia-Pacific free trade area as well as an ecosystem that supports economic growth.
“All these actions are fundamental to ensuring that our region is seamless, dynamic, resilient and sustainable for everyone, including the disadvantaged and under-served,” he said.
He added that Apec leadership and decisive action are necessary to speed up economic recovery in the fallout of Covid-19.
The five points put forward by Abac are: regional economic integration; digital infrastructure; sustainable practises of micro-, small and medium-sized enterprises (MSMEs); sustainability; and finance and economics.
The economic leaders’ meeting, scheduled for November 18-19, is part of the Apec Summit, which kicks off on November 14 at Bangkok’s Queen Sirikit National Convention Centre.
Kriengkrai, who also chairs the Federation of Thai Industry, said Abac is looking for opportunities to facilitate trade and investment, as well as for integration into a wider regional market. He added that the council was also focusing on carbon credit and future food, which will soon become new income sources for people.
“We also call on Apec to facilitate the reopening of borders to accelerate the regional recovery, particularly for MSMEs that were adversely affected by Covid-19 restrictions,” he said.
He added that Abac will continue focusing on the development and implementation of a regional framework to facilitate business operation and tourism in the post-Covid era.
Abac’s 5 points
Regional economic integration: Free-trade pacts and restoring regional travel
Digital infrastructure: Preparations to transition into a digital economy
MSMEs and inclusiveness: Restoring MSMEs in a post-Covid era as well as promoting participation by women, children and under-privileged persons
Sustainability: Focusing on net-zero emissions and promotion of sustainable food and energy
Finance and economics: Issuing effective economic stimulus measures and creating an ecosystem that supports digital finance
