- Asia Pacific Economic Cooperation (APEC) 2022 meeting is underway in Thailand, the host nation of its 33rd edition. The meeting is convened to deliberate on ways to reopen and facilitate trade and investment in the Asia-Pacific region.
- After closing the economy amid Covid pandemic, member nations of APEC are aspiring to regain the economic pace and connect other economies. So, in keeping with the sentiments of the members, the 2022 summit theme is based on ‘Open, Connect, Balance.’
- The Ministry of Foreign Affairs, Thailand had a press conference regarding the summit.
- The spokesperson of the ministry informed media persons about the progress, achievements, and expected outcomes of APEC through an online meeting that took place in Bangkok, the capital of Thailand.
Working on BCG economy model
- While briefing the media, the spokesperson said that the APEC member nations were among the countries of the world that have been heavily impacted by the COVID pandemic. Hence, the priorities of the 2022 edition of APEC are to reconnect the people in the region safely and seamlessly and resume cross-border travel through the inclusive APEC Business travel card.
- He further added that 21 member economies are working on the Bio, Circular and Green (BCG) economy model for post-pandemic recovery.
Climate change, inclusivity and sustainability major concern
- Apart from this climate change, inclusivity and sustainability have been major concerns in the region. So, it is necessary to open the economy to make a balance for the member countries who are facing the issue.
- To offer equal opportunity there might be a Free Trade Agreement (FTA) in the region, which already has 186 FTAs.
Emphasis on Women’s participation in economy
- There is an emphasis on environmental and social governance. High-level ministerial meetings are also being held for promoting women’s participation in the economy.
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