U.S. will put Thailand’s BCG economy on APEC agenda
In a nod to the Kingdom’s green development, APEC host economy – the U.S. has included Thailand’s bio-circular-green (BCG) economic model in discussions on sustainability and inclusive economics at APEC’s summit of trade ministers last week.
Thailand hosted the 21-member Asia Pacific Economic Cooperation (APEC) in 2022 and used the opportunity to advance the Bangkok Goals for the BCG Economy. The Bangkok Goals outline targets on climate change mitigation, sustainable trade and investment, environmental resources conservation and waste management.
The willingness by the U.S. to carry forward the Bangkok Goals is a testament to Thailand’s growing leadership on issues related to the environment and sustainability both in the region and globally.
As a newly industrialized country, Thailand is wrestling with efforts to transform its development path towards a cleaner, more sustainable paradigm for its economy and society. Its policymakers have committed the nation to the bio-circular-green model as the best way to achieve that and are promoting that pathway to others.
Ekachat Seetavorarat, Deputy Permanent Secretary at the Ministry of Commerce, said that the Summit in Detroit discussed APCE’s role in supporting multilateral trading, promoting sustainable and inclusive trade through concrete guidelines, and a continuation of the Bangkok Goals on BCG Economy. Other topics included driving the Putrajaya Vision 2040 and Aotearoa Plan of Action to deal with global environmental challenges.
He further mentioned that the U.S. encouraged APEC economies to work on the Bangkok Goals for the BCG Economy through the “Manoa Agenda for Sustainable and Inclusive Economies.”
“This agenda will promote ministerial meetings to show outcomes related to sustainability and inclusiveness, and building engagement with stakeholders,” added Ekachat.
Photo courtesy of https://www.state.gov/apec-2023-media-toolkit/