REPORT
INGENIEUR
APEC PUTRAJAYA VISION 2040 & 2020 KUALA LUMPUR DECLARATION
By Samniang Saenram
The adoption of the APEC Putrajaya Vision
2040 and the 2020 Kuala Lumpur
Declaration at the Asia Pacific Economic Co-operation ( APEC ) Economic Leaders ’ Meeting ( AELM ) hosted by Malaysia and chaired by the Prime Minister of Malaysia was concluded at the first ever meeting conducted fully virtually among the leaders . The APEC Putrajaya Vision 2040 will further advance the Bogor Goals , which were launched in 1994 and reached maturity this year .
The leaders have also jointly agreed on the way forward for the region , with the APEC Putrajaya Vision 2040 significant for its huge implications on the vision forward for the APEC member nations .
APEC PUTRAJAYA VISION 2040
The APEC Putrajaya Vision 2040 stated the following : Our vision is an open , dynamic , resilient and peaceful Asia-Pacific community by 2040 , for the prosperity of all our people and future generations . Remaining committed to APEC ’ s mission and its voluntary , non-binding and consensus-building principles , we will achieve this vision by pursuing the following three economic drivers :
Trade and Investment : To ensure that the Asia-Pacific remains the world ’ s most dynamic and interconnected regional economy , we acknowledge the importance of , and will continue to work together to deliver , a free , open , fair , non-discriminatory , transparent and predictable trade and investment environment . We reaffirm our support for agreed upon rules of the WTO in delivering a well-functioning multilateral trading system and promoting the stability and predictability of international trade flows . We will further advance the Bogor Goals and economic integration in the region in a manner that is market-driven , including through the work on the Free Trade Area of the Asia-Pacific ( FTAAP ) agenda which contributes to high standards and comprehensive regional undertakings . We will promote seamless connectivity , resilient supply chains and responsible business conduct .
Innovation and Digitalisation : To empower all our people and businesses to participate and grow in an interconnected global economy , we will foster an enabling environment that is , among others , market-driven and supported by digital economy and innovation . We will pursue structural reforms and sound economic policies to promote innovation as well as improve productivity and dynamism . We will strengthen digital infrastructure , accelerate digital transformation , narrow the digital divide , as well as co-operate on facilitating the flow of data and strengthening consumer and business trust in digital transactions .
Strong , Balanced , Secure , Sustainable and Inclusive Growth : To ensure that the Asia-Pacific region is resilient to shocks , crises , pandemics and other emergencies , we will foster quality growth that brings palpable benefits and greater health and wellbeing to all , including Micro , Small and Medium-sized Enterprises ( MSME ), women and others with untapped economic potential . We will intensify inclusive human resource development as well as economic and technical co-operation to better equip our people with the skills and knowledge for the future . We will promote
66 VOL 85 JANUARY - MARCH 2021