The BGA Thailand Team led by Managing Director Teerasak Siripant, wrote an update to clients on the conclusion of the APEC summit held in Bangkok earlier this month.

Context

  • Thailand on November 19 wrapped up its chairmanship of this year’s Asia-Pacific Economic Cooperation (APEC) forum in Bangkok. This included the holding of the APEC leaders meeting which capped off a series of engagements during 2022.
  • Despite some anti-government protests on the margins and a few organizational issues, the event was a qualified success in terms of its sideline and bilateral meetings, which saw several overtures to cool geopolitical tensions.

Significance

  • The APEC-related meetings led to several notable achievements. These included a leaders’ declaration supporting the Bangkok goals on the BCG economic model and codifying the Thai government’s much-publicized BCG sustainable development campaign.
  • In addition to the summit, the Thai government hosted a series of bilateral meetings on the sidelines. These included the November 19 luncheon between Prayut and Chinese President Xi Jinping and the signing of five memorandums of understanding between Thailand and Saudi Arabia. The meeting between Xi and Japanese Prime Minister Fumio Kishida also broke new ground, paving the way for more high-level bilateral talks in the coming weeks.

Implications

  • Embattled at home with the ruling Palang Pracharat Party in disarray and his political future hanging in the balance, Thai Prime Minister Prayut Chan-o-cha seized on the APEC summit to boost his credibility, and how this plays out will continue to be in focus. 
  • With the torch passing to the United States as APEC host next year, all eyes are on how Prayut will convert his APEC results into political maneuvers as Thailand gears up for a general election, which must take place by early May 2023 at the latest.

BGA will continue to keep you updated on developments in Thailand as they occur. If you have any comments or questions, please contact BGA Thailand Managing Director Teerasak Siripant at tsiripant@bowergroupasia.com.

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Managing Director

Art is an intuitive leader with a strong set of relationships with Thailand’s government, business, media and civil society leaders. His network spans a diverse set of stakeholders, from farmers in rural Thailand to the top echelons of Thailand’s political leadership. Prior to joining BGA, Art spent a decade serving as the chief political advisor to the Australian ambassador to Thailand. In this role, he had a front row seat to the most significant political and economic developments in Thailand. Earlier, he served as an army intelligence officer in the Royal Thai Armed Forces. Art has played a central role ... Read More