Deputy Secretary-General to the Prime Minister and Acting Government Spokesperson Anucha Burapachaisri disclosed that during the APEC Economic Leaders’ Meeting on November 17-19, 2022, a refreshed conversation on Free Trade Area of the Asia-Pacific (FTAAP) will be initiated to move forward regional economic integration and support the multilateral trading system. APEC Ministerial Meeting Joint Ministerial Statement has been drafted by the Thai Government to cover 47 issues of discussions under 3 overarching agendas, namely, 1) opening to all opportunities; 2) connecting in all dimensions; and 3) balancing in all aspects related to FTAAP.
Thailand also proposed the FTAAP 4-year workplan (2023-2026) which incorporates the issues of shared interest among APEC member economies, i.e., traditional trade, emerging trade, and economic recovery. FTAAP is aimed to promote trade and investment in the Asia-Pacific, minimize trade and investment obstacles, enhance competitiveness of APEC member economies, and narrow the gap between APEC member economies in different stages of development.
The Government strives to push forward FTAAP in hope to make APEC the world’s largest Free Trade Area, and a key mechanism in eradicating international trade obstacles, and promoting supply chain connectivity among member economies. FTAAP is believed to help promote Thailand’s economic growth in various dimensions and enhance the country’s long-term competitiveness. The Government strongly hopes that FTAAP will be an opportunity for the private sector to expand their business and explore new business opportunities. (PRD)
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