BANGKOK, November 18. /TASS/. The ministerial meeting of the Asia-Pacific Economic Cooperation (APEC) leaders kicked off on Friday in the Thai capital.

"What is important is that the problems of climate change continue to threaten not only the Asia-Pacific region, but the well-being of humanity as a whole. To protect our planet, we can no longer live the old way, we need to change our way of life," Thai Prime Minister Prayut Chan-o-cha said at the opening ceremony.

He also spoke about the kingdom's concept of promoting a bioeconomy to stimulate recovery from the COVID-19 pandemic. The concept can also be promoted within APEC, he said.

Forum participants gathered for a two-day regional meeting to discuss trade and economic interaction, inflation, post-pandemic recovery as well as food shortages and combating climate change. The meeting takes place at the Queen Sirikit National Convention Center. Representatives from 21 governments will attend the two-day event.

APEC is made up of 19 countries and two territories. They include 12 founding members: Australia, Brunei, Canada, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand and the United States. Other members are China (joined in 1991), Mexico and Papua New Guinea (1993), Chile (1994), Russia, Vietnam and Peru (1998). In 1991, two Chinese territories joined APEC: Hong Kong and Taiwan. Thailand took over the presidency from New Zealand and will hand it over to the US.