Malaysia to host the first-ever APEC Trade Ministers digital meeting on Saturday

By ANIS FARHANAH MALEK
anisfarhanah@dagangnews.com

KUALA LUMPUR 23 July - Malaysia will be the first country to host Virtual Ministers Responsible for Trade (VMRT) meeting in conjunction with Asia-Pacific Economic Cooperation (APEC), on 25 July 2020 (Saturday).

Senior Minister and Minister of International Trade and Industry (MITI), Datuk Seri Mohamed Azmin Ali will chair the meeting that was initially planned to be held in April 2020, customarily in its physical format in Kuala Lumpur, but has had to be postponed due to COVID-19 pandemic. 

Mohamed Azmin as quoted from MITI statement said, the move was testament to Malaysia’s leadership role in APEC to ensure that thoughtful policy direction on trade and investment will be provided through deliberations among APEC Trade Ministers. 

“This is key in realising strategic plans that will lead to concrete actions in safeguarding APEC community’s socio-economic resilience, post-pandemic,” said the statement. 

The meeting involving Trade Ministers from all 21 APEC Economies, aims to build consensus on concrete initiatives by the Economies in addressing the challenges brought about by the COVID-19 pandemic, as well as fast-tracking the region towards economic recovery. 

During the meeting, Mohamed Azmin will lead the discussion among his counterparts on follow-up measures and proposals by all the Economies as stipulated in the MRT Statement on COVID-19 that was issued on 5 May 2020.

“The discussion will underline the importance of ensuring a free, fair, non-discriminatory, transparent, predictable and stable trade and investment environment to safeguard the economy of the region. 

“The VMRT will also underscore the importance to ensure 2 that global supply chains and trading links remain open in order to mitigate the impact of COVID-19 on the lives and livelihoods of people,” added the statement. 

Apart from the VMRT, the Second Virtual Extraordinary Senior Officials’ Meeting (VESOM 2) will be held a day prior to the VMRT.

“This year, despite the many challenges posed by the pandemic, Malaysia is intent on making Post-2020 Vision that will serve as the guiding document for APEC.

“The Vision will replace the Bogor Goals, which will reach maturity at the end of 2020. The Asia Pacific region looks to Malaysia’s leadership in delivering a relevant, future-proof and meaningful Post-2020 Vision for the region,” said the statement. - DagangNews.com