APEC 2024: PM Anwar Advocates For Global South, Non-Traditional Alliances For Equitable Growth 

From M. Saraswathi

LIMA (Peru), Nov 16 (Bernama) — Prime Minister Datuk Seri Anwar Ibrahim has underscored the critical importance of strengthening cooperation within the Global South, calling for the harnessing of non-traditional alliances with a clear emphasis on fostering equitable growth and development. 

Speaking at the various platforms of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders Week (AELW) here, he drove home the point that the forum must not only reinvent itself but also set the golden standard in its ability to absorb economic shocks and climate challenges. 

“Global disruptions are not a temporary state; they are the new normal. APEC economies must shift from reactive measures to proactive and resilient economic cooperation,” Anwar stressed. 

Coupled with forging innovative partnerships and promoting inclusive trade policies, he argued that APEC’s 21 member economies can create a more equitable and resilient economic landscape, benefiting all members, regardless of size or economic stature. 

Hence, besides BRICS, which Malaysia is now a partner country, the forum should explore non-traditional alliances such as with the  African Union and Latin American nations, explained Anwar. 

“Partnerships with ASEAN, the African Union and cross-border digital networks can redefine our global resilience,” he said.

Anwar had on Nov 12 arrived in the western South American country bordered by Ecuador and Colombia in the north and the east by Brazil.

Lima, Peru’s capital with a population of 11.36 million is hosting the APEC meetings for the third time after 2008 and 2016. 

The Prime Minister was accompanied by Foreign Minister Datuk Seri Mohamad Hasan, and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz. 

Others in the Malaysian delegation included Deputy Minister of Energy Transition and Water Transformation Akmal Nasrullah Mohd Nasir and Deputy Minister of Natural Resources and Environmental Sustainability Datuk Seri Huang Tiong Sii, as well as senior government officials. 

At the APEC CEO Summit, Anwar spoke at length on technology and Artificial Intelligence (AI) and the need to bridge the digital divide. 

“We can't talk about the modern economy without trust, humanity, justice and democratisation of access,” he said at the APEC CEO Summit in a session titled, “Opportunities and Challenges in the AI Revolution”, here Thursday. 

All opportunities provided to urban areas must also be available to rural and heartland communities, Anwar said, adding that while it requires additional infrastructure investments, there should not be second thoughts about it. 

In Malaysia's efforts to consistently attract high-quality investments, Anwar took the opportunity to emphasise that Putrajaya is fully committed to understanding and responding to the needs and expectations of investors. 

He highlighted that the government is not only open to feedback but actively listening to what investors require to foster a conducive environment for business growth and long-term success. 

This is because public policy pronouncements as well as governments cannot assume that they can go on inviting and attracting this sort of investment without being prepared to undertake major initiatives which would allow these agencies of investment to come in, Anwar said. 

In what was surely a notable accolade on the bilateral front, the Prime Minister was conferred the prestigious Order of the Sun of Peru, “El Sol del Peru”. 

The distinguished award was established soon after Peru declared its independence from Spain in 1821, making it the oldest civilian honour in the Americas. 

It was presented by Peruvian President, Dina Ercilia Boluarte Zegarra, at the Government Palace.

This is Anwar's first official visit to a Latin American country since taking office in 2022. 

In his acceptance speech, Anwar said Malaysia will cherish this as a symbol of the enduring friendship between our two nations. 

His visit here has also generated potential exports worth RM1.24 billion (US$0.3 billion), particularly in high-potential sectors on the initiative of the Malaysia External Trade Development Corporation (MATRADE). 

Anwar said Peruvian companies expressed interest in importing Malaysia's steel and glass construction materials, medical equipment and products, palm oil, chemicals and food and beverage products. 

The Prime Minister had meetings with 22 captains of industry and business leaders from 17 Peruvian companies representing several industries, including pharmaceuticals, medical equipment and products, building materials, chemical-based products, health foods and consumer goods.  

So far, the companies have imported goods from Malaysia worth RM435.27 million (US$95.44 million). The government will continue efforts to increase the value of Malaysian exports to Peru, he said. 

Anwar also held bilateral discussions with Brunei’s Sultan Hassanal Bolkiah, Japanese Prime Minister Shigeru Ishiba, and Hong Kong Special Administrative Region’s chief executive John Lee Ka-chiu, among other leaders, on Friday. 

APEC is an inter-governmental forum for 21 member economies in the Pacific Rim that promotes free trade throughout the Asia-Pacific region, which represents nearly 40 per cent of the world's population, almost half of global trade and over 60 per cent of the global economy. 

Malaysia is among the 12 founding members of APEC. The others are Australia, Brunei, Canada, Indonesia, Japan, South Korea, New Zealand, the United States, the Philippines, Singapore and Thailand.

China, Hong Kong, Taiwan, Mexico and Papua New Guinea joined in 1993. Chile acceded in 1994 and in 1998, Peru, Russia and Vietnam joined, taking the full membership to 21. 

South Korea will be the APEC chair in 2025.

— BERNAMA