Anwar Urges APEC Members To Recognise The Potential Of Non-traditional Alliances

From M. Saraswathi

LIMA (Peru), Nov 16 (Bernama) -- The Asia-Pacific Economic Cooperation (APEC) must recognise the potential of non-traditional alliances such as the African Union, Latin America and BRICS, according to Prime Minister Datuk Seri Anwar Ibrahim.

He told the regional forum comprised of 21 member economies that “partnerships with ASEAN, the African Union, and cross-border digital networks can redefine our global resilience.”

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“Despite the fact that we live in an era of geopolitical uncertainty, it is still timely for APEC and BRICS to leverage their shared strengths to reshape economic power structures,

“Furthermore, this partnership can foster digital cooperation that reflects our values – creating alternatives to traditional models of development,” he said during his intervention at the APEC Leaders’ Informal Dialogue with Guests on Friday, the penultimate day of the APEC Economic Leaders’ Week here.

Anwar, who is also the Finance Minister, said that working in unison, APEC and BRICS have the opportunity to deliver an inclusive vision for economic growth that empowers communities across continents.

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“Our vulnerable populations are not a statistic; they are the heartbeat of our societies.

“Every child without access to digital learning, every entrepreneur held back by financing hurdles, and every family threatened by environmental degradation is a missed opportunity for growth and stability,” he said.

Anwar said that to protect them, APEC must connect its resources and expertise to other regions with similarly ambitious goals.

“Think about a joint initiative where APEC partners with the Pacific Alliance to unlock climate-smart agriculture, bringing climate resilience to our smallest farmers.

“Or deeper engagements with platforms such as the OECD (Organisation for Economic Cooperation and Development) to launch collaborative programmes for affordable digital inclusion, not only bridging the digital divide but sparking new opportunities in rural communities and urban centres alike,” he said.

These cross-regional partnerships would allow the APEC economies to harness the full strength of the collective innovation, amplifying support for those most in need, he said.

BRICS, originally comprising Brazil, Russia, India, and China, was established in 2009 as a cooperation platform for emerging economies, with South Africa joining in 2010.

The bloc has since expanded to include Iran, Egypt, Ethiopia, and the United Arab Emirates.

Recently, Malaysia was recognised as one of 13 nations officially added to BRICS as a partner country, a bloc that collectively accounts for one-fifth of global trade.

BRICS represents about 40 per cent of the global population and accounts for a cumulative gross domestic product of US$26.6 trillion (US$1 = RM4.47), or 26.2 per cent of the world’s GDP, nearly matching the economic strength of the Group of Seven (G7).

The G7 is an informal grouping of seven of the world's advanced economies, including Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, and the European Union.

-- BERNAMA