On 11 November 2021, H.E. Gen. Prayut Chan-o-cha, Prime Minister of Thailand attended the APEC Economic Leaders’ Dialogue with the APEC Business Advisory Council (ABAC) hosted by New Zealand via video conference.
APEC Leaders welcomed ABAC’s 2021 Report under the theme “People, Places and Prosperity” and its recommendations to address the unprecedented impact of COVID-19 and drive economic recovery towards inclusive and sustainable growth. ABAC called for APEC actions on (1) people-centred economic response, including through faster and more equitable access to COVID-19 vaccines and medical supplies, expansion of vaccine production, sustained vaccine supply chain, and empowerment of groups with untapped economic potentials, especially MSMEs and women, by leveraging digital technology and innovation; (2) advancing APEC’s cooperation on sustainability and inclusivity by working towards low-carbon society and green growth; and (3) advancing regional economic integration through safe and seamless reopening of borders, supporting a rules-based multilateral trading system and redoubling efforts to achieve the Free Trade Area of the Asia-Pacific (FTAAP). Both APEC Leaders and ABAC concurred that Public-Private Partnership (PPP) is key to driving APEC towards an open, balanced, sustainable and inclusive region.
Prime Minister Prayut highlighted PPP as an important tool to address inclusivity and sustainability and embrace the transition to a low-carbon society which aligns with Thailand’s Bio-Circular-Green Economy (BCG Economy). Collaboration among all sectors is much needed. Businesses can play an important role by promoting Responsible Business Conduct (RBC) and Environment, Social and Governance (ESG) practices through resources maximisation, waste reduction and zero emission, and the use of digitalisation and innovation. At the same time, governments can facilitate structural reform to promote an enabling business environment.