APEC Summit closes, Prayut declares success

The Asia-Pacific Economic Cooperation (APEC) Summit has come to a close, with PM Prayut Chan-o-cha hailing it as a huge success. The APEC meeting brought world leaders to Bangkok for two days to discuss global issues. This 29th APEC summit came to a close when they endorsed a leaders’ declaration that included a plan for easy border crossing and free trade for the 21 member countries.

The declaration also endorsed the “Bangkok Goal” which promotes the free trade and seamless borders plan while calling for a bio-circular-green economy. PM Prayut encourages all APEC members to focus on sustainability in their future and growth.

This was the first post-Covid-19 meeting of APEC – the first time they were able to meet face to face in four years. The group converged on Bangkok on Thursday and Friday and included leaders from Canada, China, France, Japan, Saudi Arabia, and the United States.

PM Prayut said that the APEC’s commitment to the bio-circular-green concept will create an economy of inclusivity, sustainability, and open friendliness. It will allow everyone to have opportunities in a free trade environment.

The summit also gave leaders the chance to interact directly with the private sector as part of the APEC Business Advisory Council. That council gathered many younger representatives from the participating countries, bringing fresh ideas and proposals to the table.

The next step for the push towards free commerce and sustainability is to create a pathway for each country individually to be prepared for new investment and trade.

The APEC summit was brought to a close with a speech from PM Prayut. He closed by passing off a symbolic bamboo basket to US Vice President Kamala Harris. The US is scheduled to host the next summit and becomes the new chair of APEC. The Thai prime minister thanked everyone who participated and helped to make APEC a success.