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 on Thursday attended the APEC Economic Leaders’ Informal Dialogue and Working Lunch with Guest Economies; and the Second Indo-Pacific Economic Framework for Prosperity (IPEF) Leaders’ Meeting held at the Moscone Center, San Francisco, United States of America.
Accompanying His Majesty was His Royal Highness Prince ‘Abdul Mateen.
Session I began with opening remarks from Joseph Biden, President of the United States as the APEC Chairman for 2023. Discussions were focused on sustainability, climate and just energy transitions.
His Majesty in a titah during the session reflected on the first APEC Leaders’ Meeting which was held on Blake Island thirty years ago, in 1993, and the commitment made to achieve stability, security and prosperity for the people in the Asia-Pacific region.
Against the backdrop of global uncertainties and challenges, His Majesty emphasised that this shared vision remains central to APEC’s work and how relevant this is in an increasingly interconnected world where escalating geopolitical conflicts, more recently in the Middle East, are disrupting efforts to achieve economic prosperity and stability.
In this regard, His Majesty highlighted the participation of APEC Economies in various multilateral frameworks such as ASEAN, G20, Pacific Islands Forum, and the Pacific Alliance, which are all grounded in promoting cooperation and advancing an inclusive, resilient, peaceful, and sustainable future for these economies and regions.
As such, His Majesty said that APEC should continue strengthening partnerships with frameworks that share similar visions and goals and pursue cooperation in addressing challenges such as climate change.
Touching on the concerns related to extreme weather events and their adverse impacts on people’s lives, environment, and the economy, His Majesty urged the need to address this global threat by adopting more sustainable practices and investing in climate-resilient technologies.
In this context, the United States’ theme, “Creating a Resilient and Sustainable Future for All” is relevant, the monarch said. His Majesty further highlighted that APEC’s collective efforts to implement the “Bangkok Goals on Bio-Circular Green Economy” are crucial in achieving long-term economic growth.
As such, His Majesty welcomed collaboration through regional climate institutions such as the ASEAN Centre for Climate Change in Brunei Darussalam which would contribute to the development of experts and the enhancement of capacity in addressing climate-related issues in the region.
Following Session I, the Second Indo-Pacific Economic Framework for Prosperity (IPEF) Leaders’ Meeting began with a speech by the President of the United States.
The Meeting provides an opportunity to mark the significant progress made since the launching of IPEF in May 2022 in Tokyo, Japan. The Leaders took note of the signing of the first-of-its-kind agreement on the Supply Chain Agreement and substantially concluded the negotiations on the Clean Economy Agreement and Fair Economy Agreement in San Francisco, California, United States.
Acknowledging the importance of further strengthening critical minerals of supply chains in the Indo-Pacific region and enhancing economic competitiveness, the IPEF Leaders have launched the IPEF Critical Minerals Dialogue to foster closer collaboration among the partners.
In addition, IPEF partners will continue to deepen shared interests in addressing critical economic issues and advance economic integration through the establishment of a Ministerial-level IPEF Council.
In the evening, His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam attended the APEC Economic Leaders’ Dinner held at Legion of Honor, San Francisco, United States of America.
His Majesty was greeted on arrival by the President of the United States and First Lady Jill Biden.
The Dinner was held to celebrate APEC Economic Leaders as well as delegations attending the Asia-Pacific Economic Leaders’ Meeting (AELM).
