Thailand will announce “Bangkok Goals” during the APEC Economic Leaders’ Meeting

At the next APEC Economic Leaders’ Meeting in November, Thailand plans to unveil its ambitious “Bangkok Goals.” Thailand’s push for a Bio-Circular-Green Economy is reflected in the “Bangkok Goals on BCG Economy,” which will become a “landmark” for APEC 2022.

The proclamation, according to Choetchai Chaiwaiwit, director general of the Department of International Economic Affairs, would focus on four primary goals. It will require goals to be achieved, such as those related to biodiversity, natural resource management, and carbon neutrality. Waste from international commerce and investment will be addressed in the statement as well.

According to Mr. Choetchai, businesses would have to be ethical in their trade and investment practices when the Bangkok Goals are announced. Measuring and controlling this effort is essential. Examples include “green bonds,” which will only be offered to environmentally conscious enterprises, and the APEC finance ministers’ conference to discuss them.

The director-general also mentioned that APEC has accomplished more than only the establishment of agencies and institutes. There has to be a focal point at APEC where all the different agendas can be driven. With just three laws previously allowing for necessary actions to be conducted, this is especially true for the climate change issue in Thailand. Mr. Choetchai has stated that a comprehensive master legislation on climate change is necessary to realize the Bangkok Goals. This law already exists in Singapore, Japan, the Philippines, and the United States, but not in Thailand. He said that a statute establishing “environmental care measures” was necessary in Thailand.

Since the Thai government is limited in its ability to solve all problems, Mr. Choetchai said he hoped the APEC meetings will spark a creative explosion in the country.