The Pressing Need for An Inclusive Post-Pandemic Recovery
Prime Minister Tan Sri Muhyiddin Yassin has called leaders in the Asia-Pacific region to work towards an inclusive post-pandemic economic recovery.
In his speech at the virtual APEC CEO Dialogues Malaysia 2020, Muhyiddin said that countries must reaffirm their commitment a rules-based multilateral trading system as nations would need to trade and invest their way out of the current economic downturn, according to The Malaysian Reserve.
“This is essential for our businesses, as market stability and predictability are the central pillars which ensure that trade and investment continue to flow, even during times of crisis,”
“It is in this spirit that we hope to implement the APEC Post-2020 Vision. This Vision, which is set to replace the Bogor Goals that reach maturity at the end of this year, will guide the work of APEC for decades to come. It will also contain enablers that drive economic growth and prosperity for the region,” Muhyiddin said.
The Malaysian Prime Minister also added that APEC economies must acknowledge that free and open trade as well as investment have bring properity within the Asia Pacific region, although benefits accruing from trade and investment have not permeated across societies.
According to The Malaysian Reserve, Muhyiddin has stressed on the need to reinforce the digital economy in order to generate jobs and returning people to the work forces.
“The pandemic has shown all of us that technology can step-in and sustain communities even when our movement is restricted. However, without sufficient infrastructure and close cooperation between the public and private sectors, we run the risk of excluding vulnerable groups due to their lack of access to digital tools.
“Promoting digital inclusion and narrowing the digital divide by increasing investments in ICT infrastructure for these groups is, therefore, a must,” he said.
The APEC CEO Dialogues Malaysia 2020 is the first all-virtual reimagination of the annual APEC CEO Summit, for the Covid-19 era. APEC economies comprise approximately 60% of global GDP, half of the world’s global trade and 40% of the world’s population.