MOSCOW (Pakistan Point News / Sputnik - 20th November, 2020) Rules-based trade, digital economy and inclusive economic growth should become three main priorities for the Asia-Pacific Economic Cooperation (APEC) in the pandemic era, Malaysian Prime Minister Muhyiddin Yassin said on Friday, opening the Kuala Lumpur-hosted summit.
"The first and most important priority is for us to reaffirm our support and commitment for the rules-based multilateral trading system. This is essential for businesses as markets' stability and predictability are the central pillars, which ensure that trade and investment continue to flow even during times of crisis," Muhyiddin said.
Digital economy has arisen as another pillar.
"The second priority is to bolster the digital economy, given the pressing need to generate jobs and return our workers to employment market. Innovations and digitalization are fundamental within this context as this enables us not only to facilitate our efforts to reinvigorate economic activities, but also to safeguard the health and well-being of our people," he continued.
The third priority is inclusive economic growth.
"The economic recovery and the subsequent growth should ensure that no one is left behind," the prime minister stressed.
This year, the summit is being held in a virtual format. Russian President Vladimir Putin is also taking part.
