The global economy remains fragile and more needs to be done for a sustainable recovery, His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam said yesterday during the 28th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting held virtually from Istana Nurul Iman.
The APEC meeting – chaired by New Zealand Prime Minister cum APEC for 2021 Chairperson Jacinda Ardern – among others, focussed on recovering from COVID-19 to build prosperity for all citizens and future generations.
Noting that APEC agreed on a common vision last year to be achieved by 2040, Brunei Darussalam welcomes the Aotearoa Plan of Action to guide APEC’s future work. In this regard, His Majesty in a titah shared three points.
“Firstly, APEC needs to revitalise trade and enhance economic activities. Efforts should focus on keeping markets open, strengthening global value chains and ensuring free, open and transparent multi-lateral trading system anchored by the World Trade Organization (WTO). It is necessary to continue to create a conducive environment for businesses, especially micro, small and medium enterprises (MSMEs), to recover and grow.
“Brunei Darussalam also recognises the importance of technology as tools for creating new economic opportunities. On this note, APEC cooperation has to harness the power of technology and digitalisation to transform industries, promote innovation, and enhance infrastructures.”
November 27, 2021
