Bangkok, Thailand
November 18, 2022
Issued on behalf of the APEC Business Advisory Council 2022, the organizer of the APEC CEO Summit 2022.
Today is the last day of the APEC CEO Summit 2022, which runs in parallel to the APEC 2022 leaders meeting. The summit's goal is for APEC leaders, thought leaders, policymakers, and top executives to collaborate and share opinions on the challenges faced by the Asia-Pacific region and possible solutions.
The conversation over the past two days covered a wide range of topics, ranging from economic and trade prospects, food and energy security, digital transformation and gender equity – all issues that are integral to the promotion of inclusive growth and the well-being of the APAC community under the theme "Embrace Engage Enable."
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Key themes raised at the APEC CEO Summit 2022 discussion on November 18, 2022:
Issue 1: Peace, Stability and Collaboration are key to prosperity
Emmanuel Macron, President of France, urged countries to re-embrace international rules and multilateralism for global peace and stability. The DNA of capitalism must be recalibrated to focus on inclusive and sustainable development.
Kamala Harris, Vice President of the United States, vowed to strengthen the US’s economic ties and partnerships across the region. “The US is here to stay,” she declared. USA will stand against market distortions and unfair competitive advantages. She committed the effort to increase foreign direct investment and the free flow of capital. Vice president Harris also called on economies to ensure that growth was equitable across society.
Krishna Srinivasan, Director of the Asia and Pacific Department at the International Monetary Fund, IMF warned that protectionism and fragmentation would have a profound impact on the global economy.
Heartful collaboration and partnership are critical to achieve meaningful change in addressing the climate crisis, said Dr. Harald Link, President of B. Grimm Power. Policy support is also needed to encourage the transition to clean energy.
Issue 2: Economic growth must be both sustainable and inclusive
Rising inflation and food prices could lead to greater social unrest and political tensions, said Kasemsit Pathomsak, Executive Director, APEC CEO Summit 2022, particularly as monetary policy tightens and fiscal budgets tighten.
With the world facing a “perfect storm” of political conflicts, food, health as well as energy crises, Mr Srivanasan said policymakers must look beyond the short-term and continue to tackle challenges such as climate change.
Enabling policies, cross-border collaboration and innovation are needed to help address risks to food and energy supply chains and increase efficiency and sustainability.
Technology can be a tremendous enabler to help small businesses and the underprivileged reach new markets and opportunities, although digital literacy, access, cross-border standards and cyber security are areas of concern.
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On behalf of the organizer of the APEC CEO Summit 2022, we would like to extend our deepest thanks to the delegates and members of the press for attending the press conference.
For more details about the APEC CEO Summit 2022 including summaries, photos and videos, please visit www.abac2022.org.
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For further information, please contact
Yaninee Kasitaranon, FleishmanHillard Thailand,
Mobile: +668 5953 3330, Email: yaninee.kasitaranon@fleishman.com
Sutee Satanasathaporn, Director General of the Office of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB-Thailand),
Mobile: +669 4236 4269, Email: sutee@jsccib.org