I would like to express my deep gratitude to the member institutions  of the Asia-Pacific Rural and Agricultural Credit Association (APRACA). It is  indeed an honor to serve as the Vice Chairman of APRACA, and I extend my  heartfelt thanks to all our members for their invaluable collaboration in  advancing sustainable rural and agricultural development. 

Today, agriculture plays a critical role in global food security by  providing a sufficient food supply for the world’s po pulation. However, the  challenges facing the agricultural sector extend beyond the need for improved  production techniques. Modern agriculture grapples with unpredictable  weather patterns, labor shortages, water scarcity, and price volatility, all of  which render traditional farming practices insufficient to meet contemporary  demands. Farmers today must adapt within the constraints imposed by these  challenges to enhance their productivity. 

Since its establishment, APRACA has played a pivotal role in promoting  cooperation among its members, leading to significant contributions to the  development of agricultural and rural sectors in the Asia-Pacific region.  This has been accomplished through knowledge sharing, collaborative efforts,  and the formulation of robust strategies aimed at achieving long-term  prosperity. 

In the realm of financial institutions within the agricultural and rural  sector, it is crucial to recognize that their role goes beyond simply providing  financial resources. APRACA must also take on the responsibility of initiating a  paradigm shift in our countries, raising awareness about the challenges posed  by climate change and the critical role of reducing greenhouse gas emissions,  which will undoubtedly impact the agricultural sector in the near future.  Therefore, APRACA’s mission should extend beyond financial support  and encompass a concerted effort to advance the knowledge and capabilities  of farmers. Furthermore, fostering collaboration that evolves into trading  among farmers in our region will serve as a tangible demonstration of the  outcomes achieved through the cooperative efforts of APRACA members.

In our pursuit of these advancements, APRACA should position itself as  the “Hub of Agricultural Support,” dedicated to fostering sustainable  development, cooperation, and a renewed sense of pride in our agricultural  heritage. We eagerly anticipate constructive communication, wide-ranging  knowledge dissemination, and a strong emphasis on collaboration and  collective action. Our aspiration is for APRACA to become a significant  contributor to long-term success, the improvement of livelihoods, and the  prosperity of agricultural communities, all while nurturing a shared sense of  pride in our collective achievements. The Bank for Agriculture and Agricultural  Cooperatives (BAAC) is committed to sharing its best practices and learning  from the valuable knowledge within our membership to further these goals.

Best regards,

Chatchai Sirilai

President of Bank for Agriculture and Agricultural Cooperatives

Vice Chairman of APRACA