Many people might be unfamiliar with the work the Asia Pacific Economic Cooperation (Apec) forum does, but those four letters represent an economic and trade powerhouse that affects all our lives, from the price of a new car, to promoting renewable energy.
Apec was established in 1989 by 12 economies with a drive to support sustainable growth and prosperity in the Asia-Pacific region.
Today, Apec is one of the most important forums in our region, with 21 members, and a combined GDP of US$25 trillion (832 trillion baht). Apec initiatives have facilitated trade across borders and made it easier to do business.
New Zealand and Thailand were both founding members of Apec. We again find ourselves in a position to shape the future of the region, with New Zealand hosting Apec in 2021, and Thailand in 2022. However, today, Apec is facing its biggest challenge to date -- a global pandemic.
The virus knows no borders. With economies unable to combat Covid-19 alone, cooperation through Apec is needed now more than ever.
Dealing with pandemic
Leading a regional response to the pandemic has been one of New Zealand's highest priorities as Apec chair this year. The Apec region is responsible for most of global Covid-19 vaccine production, so it is well placed to make meaningful collective progress on combatting Covid-19.
In June, it was my privilege to chair a meeting of Apec Trade Ministers, where we committed to speed up the cross-border flow of vaccines, getting them into the arms of our people as fast as possible. We also agreed to look into reducing trade barriers, which can slow the distribution of vaccines and medical products and increase costs.
It was clear to all ministers involved that nobody is safe until everybody is safe.
Building back better
Apec has been able to respond in a way few other multilateral organisations can -- at pace.
In July, New Zealand Prime Minister Jacinda Ardern called together Apec leaders for a meeting about the pandemic's economic effects.
Leaders, including Thai Prime Minister Prayut Chan-o-cha, committed to redouble efforts to overcome the health emergency.
Leaders also looked to the future and how to build back better from the effects of Covid-19.
New Zealand's work on a plan for recovery has been at the forefront of Apec discussions. Already, Apec economies have agreed to a five year programme of economic reforms that will kick start growth, create new jobs and combat climate change.
Meanwhile, in August, I was joined by Apec agriculture ministers to lay out a roadmap on food security for the next decade. The World Bank estimates nearly 2.37 billion people lacked access to adequate food in 2020 -- a rise of 320 million in just one year. The pandemic has also led to supply disruptions.
As two leading food producers, New Zealand and Thailand have a lot to contribute in this space.
Working together
New Zealand and Thailand have a strong history of working closely together, with 2021 being our 65th anniversary of diplomatic relations.
Our 2005 free trade agreement was among the first New Zealand ever signed, and reflects our two countries' place in the world as trading nations.
I have been fortunate to visit Thailand several times. Our economies share a strong interest in caring for our land, and deep expertise in agriculture.
We can learn a lot from each other. In the dairy sector, our governments have connected New Zealand and Thai farmers to discuss best practice. We are also working together to reduce emissions in our agricultural sectors, as members of the Global Research Alliance on Agricultural Greenhouse Gases.
Prime Minister Ardern and Prime Minister Prayut will join other Apec members this month. At a time where the stakes have never been higher, the Apec leaders' meeting will help to shape how our region looks for generations to come.
Last year, economies adopted a new vision for the next two decades, and this year New Zealand has spearheaded the development of a plan to make this vision a reality. As the next Apec host, Thailand will carry this mantle forward into the first year of implementation.
As incumbent and incoming hosts, the region is relying on our work, coordination, and ambition to come out of this pandemic stronger. The need for cooperation is reflected in New Zealand's theme for Apec this year -- "Join, work, grow together", or "Haumi e, Hui e, Taiki e" in our indigenous Maori language.
A team member recently shared a Thai proverb with me, which perfectly captures this sentiment -- Ruam Rang Ruam Jai Terb Toh Pai Duay Kan -- meaning to work together, bind our hearts together, and grow together. If we can do this, we will be able to emerge from the pandemic more resilient, more prosperous, and more sustainable, than ever before.
Damien O'Connor is New Zealand Minister for Trade and Export Growth.
