APEC Should Be A Bridge Beyond Member Economies To Be More Inclusive, Truly Impactful Platform

From Nor Baizura Basri

GYEONGJU (South Korea), Oct 31 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim has called on the Asia-Pacific Economic Cooperation (APEC) economies to serve as a bridge beyond the platform with greater participation from Latin American and African economies.

He said that this would enable APEC's agenda to be translated into something more substantially transformative, inclusive and truly impactful.

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Speaking during Malaysia's intervention at the APEC Economic Leaders’ Dialogue with Guests here, the Prime Minister said this can be achieved through formal or informal engagements between these countries and APEC member economies.

"APEC should serve as a bridge not only for the Asia-Pacific economies but also in expanding engagement with the Latin American and African regions towards a more just and balanced global economic order between developed and developing nations (the Global North and Global South).

"This could also set the trajectory towards a more equitable economic architecture that narrows the gap between the Global North and the Global South," said Anwar, who is also the Finance Minister, on the first day of the APEC Economic Leaders' Meeting here.

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In the past, he pointed out that the platform has proven itself a trailblazer; though voluntary and non-binding, it has been catalytic in shaping global economic norms.

"APEC pioneered the spirit behind plurilateral arrangements later adopted by the World Trade Organisation (WTO), incubated the early frameworks for trade facilitation, and led by example in voluntarily lowering tariffs for environmental goods.

"That is why APEC’s gentle yet persuasive approach, its ethos of persuasion rather than imposition, may well be what the world needs today," he added.

Looking ahead, Anwar said that APEC, which includes 21 economies, is currently nurturing new ideas that address the challenges shaping their collective future.

"These include green growth and sustainable finance; digital transformation and equal access to technology; resilient supply chains and critical minerals; as well as food security, smart agriculture, and clean energy transitions.

"These themes resonate deeply with Malaysia’s own aspirations under the MADANI Economy framework: to build a resilient, inclusive, and sustainable economy that works for all," said the Prime Minister.

Anwar emphasised that the current global transformation requires a whole-of-society approach to bring about real and value-added change.

"The future will belong to regions that can foster collaboration among governments, industries, academia, and communities. Collaborative governance is not about sharing power. It is about sharing purpose," said the Prime Minister.

-- BERNAMA