Thailand is working with the 21 APEC economies to advance the Asia-Pacific free trade area (FTAAP) initiative. Work goals under the initiative are now being rapidly designated so they may be endorsed by APEC ministers and leaders.

The Department of Trade Negotiations (DTN) indicated bilateral talks with ministers of commerce from APEC member economies will be held during the APEC Economic Leaders’ Week. DTN Director-General Auramon Supthaweethum said talks are expected with China and special guest Saudi Arabia.

The advancing of the Asia-Pacific free trade area (FTAAP) initiative

The advancing of the Asia-Pacific free trade area (FTAAP) initiative will be an important agenda during these sideline talks. Ms. Auramon said the topic will be presented at the APEC Economic Leaders’ Meeting, after which a 4-year work plan will be announced. Whether negotiations on the FTAAP will conclude within 4 years would depend on the preparedness of member economies.

On November 17, APEC ministers will meet to discuss sustainable, inclusive, and balanced economic growth. This meeting will be co-hosted by the Ministry of Commerce and the Ministry of Foreign Affairs.

Promoting the Bio-Circular-Green economic model

Participants will talk about how to promote the Bio-Circular-Green (BCG) economic model and post-Covid regional connectivity. The Ministry of Commerce will present a topic on open and sustainable trade and investment, with the goal of promoting open trade and economic growth. The World Trade Organization’s Secretary-General has been invited to speak on the subject.

The director-general said an exhibition titled “BCG Journey” will be organized on this occasion. The event will highlight Thailand’s successes in implementing the BCG model in agriculture, industries, and services.

Information and Source

  • Reporter : Namo Vananupong
  • Rewriter : Tarin Angskul
  • National News Bureau : http://thainews.prd.go.th

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