AIMED at building a positive momentum in the global economy, APEC (Asia-Pacific Economic Cooperation) must continue to emphasise global trade to boost productivity, foster innovation, create jobs and achieve sustainable development in the region.
This was stated by 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 in a titah at the Retreat Session of the 25th APEC Economic Leaders’ Meeting (AELM), which was held at Intercontinental Da Nang Sun Peninsula Resort in Da Nang, Socialist Republic of Vietnam, yesterday.
His Majesty reiterated the need to achieve the Bogor Goals by 2020, including addressing structural reforms and maximising the potential of the services sector.
Brunei Darussalam, meanwhile, continues to improve its Ease of Doing Business and further open up the financial services sector such as through the launching of the Financial Sector Blueprint (FSBP) 2016-2025, the monarch added.
His Majesty also underscored that the benefits of economic integration should be widely shared in the region by expanding the participation of its stakeholders.
In this regard, the monarch welcomed the Action Agenda on Promoting Economic, Financial and Social Inclusion in the APEC Region and the APEC Framework on Human Resource Development (HRD) in the Digital Age to help promote inclusive growth in the region.
The monarch also emphasised the importance for APEC to have good engagement with its community, including in helping them embrace changes brought by technology through policy adjustments in education and labour.
His Majesty further stated that the HRD Framework would complement efforts to enhance the marketability and employability of Brunei Darussalam’s human resources with initiatives under the i-Ready Apprenticeship Programme and Capacity Building Centre.
His Majesty also stressed that in order for APEC to remain purposeful and add value to other regional economic frameworks post-2020, it must have the long-term support of the public to instil a sense of ownership of its future.
His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam was greeted on arrival at the resort by Tran Dai Quang, the President of the Socialist Republic of Vietnam as Chairman of the 25th APEC Economic Leaders’ Meeting.
The monarch then proceeded to attend the AELM Retreat Session, along with other APEC Economic Leaders. The Retreat Session, which carries the theme, ‘Innovative Growth, Inclusion and Sustainable Employment in the Digital Age’, commenced with a speech from the President of the Socialist Republic of Vietnam.
During the event, Christine Lagarde, Managing Director of the International Monetary Fund (IMF) briefed on the state of the global and regional economy.
At midday, His Majesty joined other APEC Economic Leaders for a group photo session. Then, His Majesty, together with the other leaders, proceeded to attend a working lunch at Citron Restaurant, Intercontinental Da Nang Sun Peninsula Resort. The lunch brought forth the topic, ‘Fostering a Shared Future’.
At the end of the Retreat, the AELM endorsed the ‘Da Nang Declaration’.
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