The 25th Apec economic leaders’ meeting will be held November 8-11 in Vietnam. About 21 Apec members will discuss their national positions and make a joint announcement about the global economy.

According to Auramon Supthaweethum, acting director-general at Thailand’s Department of Trade Negotiations, Prime Minister Prayut Chan-o-cha will attend the meeting.

Thailand’s major contribution will be encouraging APEC members to jointly create a new dynamism to drive the future regional and world economy.

The meeting’s overall focus will be on sustainable development in human resources, promotion of micro entrepreneurs, food security and enhancing stability in growth of Apec members.

Thailand will also raise issues around economic connectivity and the promotion of trade and investment, issues around the World Trade Organisation (WTO) and creation of Free Trade Areas (FTA).

In addition to the leaders’ planned announcement for trade cooperation, there is an interest in promoting FTAs among members of Apec.

Leaders are expected to discuss creation of FTAs among Apec nations “which would jointly promote trade and solve obstacles,” Auramon said. But Apec discussions are on a voluntary basis, without requiring commitment.

“Therefore, the discussions will be relaxed and closer than trade negotiations but [follow-through] may not be expedited in a certain timeframe,” Auramon said.

She sees it as a good sign as all Apec members would discuss how to drive their economies.

At this Apec meeting, key economic groups like the United States, Canada, South America, Asia and Asean would jointly determine a vision to drive policy. They would set a mutual target which would be in line with global challenges in economic sustainability and the transition into the digital world, she said.

Auramon said that it was a good opportunity for Thailand, which has a policy to focus on sustainability, while attracting investment into the country’s Eastern Economic Corridor (EEC).

At the same time, Thailand could concentrate on its development via connectivity with Asean, growth with inclusiveness, SME promotion and innovation, said Auramon. And this was the right time for Thailand to announce its role as one among others, working to adjust its approaches to a cope with global trends and dynamism.

As a mechanism to promote cooperation on the global stage, Thailand will join with others to determine the future in line with the nation’s strategy. “Thailand started to play a larger role on the global stage after building up relationships with several countries and having certain development policies,” she said.

Auramon said that representatives from the private sector would meet for one day at Apec. This will link the Apec stage to the business sector that acts as a driver of global trade and investment.

Prayut will use Apec as an opportunity to meet Hong Kong’s new leader, who will sign the Asean-Hong Kong FTA at the 31st Asean Summit, being held November 13-14 in the Philippines.

Source: http://www.nationmultimedia.com/detail/Economy/30330972