The 33^rd APEC Ministerial Meeting (AMM) concluded today following a full-day of discussions among APEC Ministers on how to best address current economic challenges and draw from COVID-19 to chart a new course for the region’s economic recovery and long-term growth that is more balanced, sustainable and inclusive. The BCG Economy Model was highlighted as a way forward to help APEC achieve these goals and better prepare the region for future disruptions.

On 17 November 2022, His Excellency Mr. Don Pramudwinai, Deputy Prime Minister and Minister of Foreign Affairs, and His Excellency Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce, co-chaired the 33^rd APEC Ministerial Meeting (AMM), ahead of the APEC Economic Leaders’ Meeting on 18-19 November. The Meeting was attended by APEC Ministers to deliberate on key achievements over the host year and provide recommendations for Leaders on ways forward.

APEC Ministers’ discussions were centered around APEC 2022’s theme of “Open. Connect. Balance.”. On open to all opportunities, APEC Ministers exchanged views on how APEC can maintain the momentum for open and sustainable trade and investment, amidst new economic disruptions. On connect in all dimensions, APEC Ministers reflected on longer-term lessons from COVID-19 and looked for ways to enhance health policy coordination to ensure that cross-border travel in the region remains resilient against future pandemics. Digital technology was highlighted as an effective tool to enhance safe and seamless connectivity. On balancing in all aspects, APEC Ministers discussed how economies can leverage the BCG Economy Model to accelerate their transitions to a sustainable and inclusive economic recovery and long-term growth. They also stressed the need to engage the whole of society and partnership between public, private and people.  

The Director-General of the World Trade Organization (WTO), the Director-General of the World Health Organization (WHO) and the Secretary-General of the Organisation for Economic Co-operation and Development (OECD) shared their insightful perspectives, through pre-recorded videos, on global trade, health and sustainable development.

The most important highlight of the AMM was that APEC Ministers submitted the Bangkok Goals on BCG Economy for our Leaders’ endorsement. The Bangkok Goals will serve as a roadmap to advance APEC’s sustainability agenda and a legacy of Thailand’s APEC host year. Thailand also announced the annual APEC BCG Award to recognise individuals and organisations that adopt the BCG approach in their way of life and business practices.

These achievements contribute to further advancing APEC’s sustainability, inclusivity and resilience objectives as Thailand prepares to handover its APEC host year duties to the US for APEC2023.