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 emphasised the importance in helping micro, small and medium enterprises (MSMEs) to be “future ready” during his titah at the Second Retreat Session of the 2022 Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting (AELM 2022) in Bangkok yesterday.
His Majesty said this can be done by widening their knowledge base to be more climate-resilient and formulating a coherent and predictable policy environment to attract investors and entrepreneurs.
The monarch also called for aiding MSMEs in integrating them into the regional supply chains and equipping them with digital skills.
The Second Retreat Session of the AELM 2022, themed ‘Sustainable Trade and Investment’ took place at the Queen Sirikit National Convention Centre.
Accompanying His Majesty to the session was His Royal Highness Prince ‘Abdul Mateen.
During the session, His Majesty and other APEC leaders discussed issues on cooperation and exchanged views on regional and international issues of common concern, and listened to a presentation by the Managing Director of the International Monetary Fund regarding the Global Economic Outlook.
His Majesty in his titah acknowledged the positive outcomes of the 12th World Trade Organization (WTO) Ministerial Conference that reflected its members’ commitment to ensure that global trade remains unimpeded.
His Majesty called for APEC to continue upholding the spirit of multilateralism and in engaging all stakeholders to ensure its role as an incubator will continue to contribute to the momentum of WTO’s ongoing work and stressed the importance in accelerating recovery, strengthening trade and investment in a holistic and coordinated approach in the post-pandemic era, especially for MSMEs.
His Majesty also expressed support to the United States as it prepares to take over the APEC chairmanship for the year 2023, with the theme ‘Creating a Resilient and Sustainable Future for All.’
At the AELM, the APEC economic leaders released the APEC Economic Leaders’ Declaration which highlighted APEC’s work during Thailand’s chairmanship in 2022.
This includes efforts on advancing the free trade area of the Asia-Pacific, safe passage, women’s economic empowerment and sustainability through the ‘Bio-Circular-Green (BCG) Economy’ model; and the Bangkok Goals on BCG Economy which seeks to affirm APEC leaders’ commitment to continue advancing its sustainability objectives in a bold, responsive, and comprehensive manner.
APEC is one of the platforms that promotes dialogues, exchange of views and best practices on initiatives and policies that contributes to a more conductive economic climate. As an incubator of ideas, APEC also builds on economic and technical cooperation as well as capacity-building programmes.
Brunei Darussalam’s membership in APEC and participation in these policy dialogues and capacity-building engagements can contribute towards achieving Brunei Vision 2035.
