Asia-Pacific Economic Cooperation (Apec) trade ministers have vowed to promote the bio-, circular and green (BCG) economic model to help rehabilitate their economies, ravaged by more than two years of dealing with the pandemic.
Speaking after presiding over the Apec BCG Symposium 2022 yesterday, Commerce Minister Jurin Laksanawisit said Apec members will exchange experiences and move forward to use the BCG model among the forum's 21 member economies.
Mr Jurin said the BCG model is good for biodiversity, while the circular economy offers sustainable use of resources producing the least environmentally harmful waste by incorporating recycling.
He said the Apec economic zone's pledge would drive businesses towards sustainable economies, emphasising environmental concern for production and services.
"The BCG economic model will lead to beneficial results in Apec economies and the world in the future, both in terms of income generation and income distribution," said Mr Jurin.
"The bloc aims to jointly promote small and medium-sized enterprises [SMEs] and micro-SMEs to upgrade their manufacturing and services using the BCG model. This will reduce environmental destruction and, in line with current world trade and manufacturing trends aiming for green economies, it is the common goal of Apec."
He said Thailand placed the BCG model on the national agenda in January 2021 to accelerate its development, allowing economic sectors to increase the value of farm products.
Mr Jurin said the BCG model is part of a global development trend.
The BCG strategic plan covers four sectors: farm and food; healthcare and medical services; energy and biochemicals; and tourism and the creative economy.
The Thai government has vowed to develop the bio-economy, as more than 30 million people work in the farm sector, yet most remain in poverty.
The development plan calls for the government to raise the value of farm products and generate more income for the farm sector.