Special Issue on APEC Meeting: ‘Risk Management must be an Integral Part of Our Growth Agenda,’ Thai Deputy Prime Minister tells APEC Leaders Meeting’

HONOLULU, Hawaii (Nov. 13, 2011) – Thailand Deputy Prime Minister Kittirat Na-Ranong, representing the Thai Prime Minister at the APEC Leaders Meeting here, told the gathering that Asia-Pacific leaders “must do more to advance economic integration” in the region while at the same time recognizing “new risks and challenges, some of which are non-economic” brought about by integration.

“The challenge before us now,” the Deputy Prime Minister said, “is to maintain job creation and thus global growth by ensuring secure growth… by ensuring a better management of non-economic risks.”  He cited the recent flood crisis that has threatened Thailand and undermined strong economic performance. “This natural disaster reflects the harsh reality that even a strong economy and well-planned growth policy can be easily disrupted by uncontrollable natural disaster,” Mr. Kittirat said.  “The shock waves of the flood crisis in Thailand can be felt around the globe with the subsequent disruption of food security and global supply chains,” adding that a natural disaster in one place often becomes a problem for regional economies that are intertwined.

 “Natural disaster as well as other non-economic risks we have faced before, such as terrorism or pandemics, calls for more work on better management of (such) risks,” the Deputy Prime Minister said.  ‘Risk management must be an integral part of our growth agenda,” he said, “And with better risk management we can provide the safe and sound environment necessary for long-term economic growth.”

He commended the United States for promoting Disaster Resiliency.  “No economy can do this alone.  We need to complement our national efforts at disaster management with enhanced cooperation at the regional and indeed global levels.” He pledged the cooperation of Thailand in working closely with APEC and the international community in that regard.

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