Thailand, Indonesia and Malaysia have reaffirmed their commitment to the multilateral trading system and joint efforts to combat the Covid-19 pandemic.
During the virtual Asia-Pacific Economic Cooperation (APEC) CEO Dialogues hosted by Malaysia on Thursday, Thai Prime Minister Prayut Chan-o-cha pledged his support for the launch of an information-sharing platform on the pandemic to create a database for business recovery, reports Xinhua news agency.
Prayut said the health criris has halted connectivity and disrupted trade and investment and now it’s time to promote inclusive cooperation in order to move forward.
“In the post-Covid economy, we must reaffirm our commitment to the multilateral trading system, free and open trade and investment, integrated and seamless connectivity, especially the need to harness the potential of the digital economy and diversify global value chains,” Prayut said in his video message.
He also confirmed that ASEAN and Thailand can greatly contribute to the APEC in regional sustainable development areas.
He said Thailand will continually take part in promoting APEC and ASEAN economic, trade and investment cooperation.
Indonesian President Joko Widodo said his country has taken advantage of the momentum of the crisis due to the pandemic to make structural reforms in an extraordinary manner.
“In an extraordinary manner, we improve the existing regulations and bureaucracies in order to move fast in the time of difficulties so as to be ready to open the doors as wide as possible for business people and investors in new ways,” he said.
According to the President, several weeks ago Indonesia passed the omnibus law on job creation as an effort to simplify regulations from 79 laws to one law, aiming to create a quality business and investment climate for business people including small and medium entrepreneurs and foreign investors.
Malaysian Prime Minister Muhyiddin Yassin also urged the APEC members to recommit themselves to the group’s core goal of free and open trade and investment.
Of the key thrusts for this year’s APEC, Muhyiddin outlined three areas that APEC needs to focus on: support and commitment for the rules-based multilateral trading system, bolster the digital economy and inclusive economic growth.
He also said closer cooperation between governments and the respective private sector of each economy is important to drive growth and generate prosperity.
Malaysia will host a virtual APEC economic leaders’ meeting on Friday.
APEC is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific.