World leaders descended on Bangkok for the Asia-Pacific Economic Cooperation meetings, the last of the three major summits in the region that have seen discussions range from climate change to the war in Ukraine and food inflation.
(Bloomberg) — World leaders descended on Bangkok for the Asia-Pacific Economic Cooperation meetings, the last of the three major summits in the region that have seen discussions range from climate change to the war in Ukraine and food inflation.
Thai Prime Minister Prayuth Chan-Ocha opened proceedings with a speech to the CEO Summit on Thursday morning, kicking off three days of talks focused on boosting economic prosperity and environmental sustainability. Chinese President Xi Jinping will give a speech and then continue with face-to-face meetings with several leaders including Japanese Prime Minister Fumio Kishida and New Zealand’s Jacinda Ardern.
There will be at least one notable absence from the Bangkok meetings. US President Joe Biden is heading back to the White House for his granddaughter’s wedding Saturday and will be represented by Vice President Kamala Harris at APEC.
Key Developments
- China’s Xi Set for Japan Summit as Mends Ties With US Allies
- Businesses Urge APEC Summit to Tackle Inflation, Energy Crisis
- China’s Xi Confronts Trudeau at G-20 Over Meeting Leak
- Xi Looks Away From Putin Toward West in Return to World Stage
- G-20 Latest: Most Leaders Decry War in Ukraine in Blow to Putin
(All times local)
Police Outnumber Protesters (12:30 p.m.)
A small crowd of protesters gathered in the Asok area, near the convention center where the APEC Leaders’ Meeting is scheduled to take place. Some dressed up in dinosaur costumes, in a symbolic dig at what they view as Thailand’s outdated and calcified government.
One protester told the gathering that they will march to the convention center, intending to show world leaders how the Thai government has failed to address long-standing economic and social problems. The demonstrations are taking place under a large police presence, with the Bangkok Post reporting that more than 35,000 security personnel had been deployed for the summit.
Vietnam President Bats for Green Technology (11:30 a.m.)
The world is changing in a “complex and unpredictable way” and technologies that target net-zero emissions will be the “strongest driver of FDI in the future,” Vietnamese President Nguyen Xuan Phuc said at the APEC CE Summit at a session trade and investment.
Many Vietnamese factories have reduced production or even shut down as a result of supply chain problems from the pandemic and Ukraine war, Phuc said. The Covid-19 pandemic showed the “importance and indispensability of digital-based business and production,” he said.
Macron Open to Submarine Cooperation With Australia (11:10 a.m.)
French President Emmanuel Macron said his government was still open to revisiting a submarine deal with Australia. The option for Australia to build together or purchase French-made submarines remained “on the table,” although there had been no indication yet from Canberra that it was looking to revisit the deal, he told a press conference in Bangkok.
Macron met with Australian Prime Minister Anthony Albanese on the sidelines of the Group of 20 summit in Bali on Wednesday evening. While the French president acknowledged they had discussed the subject, the Australians “haven’t decided to change strategy on that subject” yet.
Philippines President Urges Greater Climate Action (10:20 a.m.)
Philippine President Ferdinand Marcos Jr. called for stronger action on climate change, which he described as the “most pressing existential” issue of all time. He told the APEC CEO Summit meeting that “not enough” progress has actually been made to lower emissions.
Marcos also urged nations to prioritize food security and to invest in pandemic preparedness. He also said “”the geopolitical currents that we must live with are something that we still need to be concerned about.”
Kasikornbank Sees Tourism as Engine of Thai Growth (10:12 a.m.)
Tourism will be the “engine to drive” Thailand’s economy in 2023 and beyond, Kobkarn Wattanavrangkul, chairperson of Kasikornbank Pcl, the nation’s second-biggest bank by assets, said in a Bloomberg TV interview on the sidelines of the APEC CEO Summit.
The bank expects hotel operators and other tourism related business customers to recover strongly as Thailand’s travel industry rebounds from the Covid-19 pandemic. Thailand, where tourism accounts for 12% of gross domestic product and a fifth of jobs, needs to diversify its foreign tourist market beyond China to maintain the industry’s long-term growth, Kobkarn said.
Thailand Says Environmental Sustainability a Key APEC Agenda (9:43 a.m.)
Thai Prime Minister Prayuth Chan-Ocha said the world was facing unprecedented environmental challenges and sustainability would be the single most important agenda for the APEC leaders summit this week.
He also called upon the public and private sectors to cooperate on supporting sustainability initiatives, adding “we must ensure that we leave no one behind on the path of development and growth.”
Prayuth urged APEC leaders to sign a so-called Bangkok Goals declaration on the “bio-circular-green” economic model at the end of the summit. “No country can achieve its objectives alone,” Prayuth said. “We inhabit the same earth.”
NZ PM to Meet with China’s Xi Jinping at APEC (2:54 a.m.)
New Zealand Prime Minister Jacinda Ardern will meet Chinese President Xi Jinping on the sidelines of the APEC Leaders’ Summit in Thailand, Stuff reports without citing a source for the information.
Arden had earlier said that if a meeting were to take place it would cover issues including trade, climate change and areas of differences, the media outlet reported.
–With assistance from Samy Adghirni, Pathom Sangwongwanich and John Boudreau.
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