MALAYSIA began its year-long hosting of the Asia-Pacific Economic Cooperation (APEC) in Putrajaya City, according to a written statement issued by the APEC Secretariat recently.
Nearly 1,500 policymakers, business leaders, and academics from 21 APEC member economies will congregate in Malaysia’s administrative capital to deliberate on and advance a policy agenda for the region’s most pressing issues in the digital era, including multilateralism, trade and investment, human capital development, and sustainability.
The dozens of fora will converge here, guided by the theme “Optimising Human Potential towards a Future of Shared Prosperity” to prioritize the year’s priorities: improving the narrative of trade and investment; inclusive economic participation through the digital economy and technology; and driving innovative sustainability.
“Shared Prosperity is the idea that focuses on creating more inclusive, sustainable, innovative, and secure trade and investment, as regional cooperation can be fruitful for narrowing inequalities within and among economies,” Hairil Yahri Yaacob, the chair of APEC 2020 Senior Officials, stated.
Constituting 60 percent of the global gross domestic product (GDP), APEC economies play a noteworthy role in propelling global economic growth.
Established in 1989, the APEC also marks the start of a new era in 2020, as the forum finalizes a renewed vision for the coming decades.
“The last 30 years have shown that regional cooperation is essential in addressing common challenges. The APEC is stronger when we support each other to rise above shared vulnerabilities,” Rebecca Fatima Sta Maria, executive director of the APEC Secretariat, stated. [antaranews]