LIMA, REPUBLIC OF PERU, NOV 17 – Ongoing challenges that threaten prosperity and stability such as unrest and climate change need to be addressed collectively to protect communities and secure a resilient future.
If it is not addressed, it can affect lives and livelihoods and even endanger the global ecosystem. No single economy, large or small, can deal with these issues in isolation.
These matters were emphasized by His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah, Sultan and Yang Di-Pertuan of Brunei Darussalam in his order when he agreed to attend the APEC Economic Leaders’ Retreat held at the Lima Convention Center (LCC), Lima, Republic of Peru, today.
Leaving to accompany His Majesty is His Royal Highness Paduka Seri Pengiran Muda ‘Abdul Mateen.
In addition, His Majesty also emphasized fostering cooperation to enable the economy to face these challenges continuously, with significant progress through joint research, sound policy formulation and effective strategies.
A focus on key outcomes such as clean and low-carbon hydrogen, and initiatives to prevent food loss and waste, are important components of the agreed Bangkok Goals in 2022. These initiatives are critical in addressing the food security challenges posed by climate change and in increasing resilience. APEC economy.
In this regard, Brunei Darussalam, His Majesty said, has introduced renewable agriculture and green technologies, such as greenhouse agriculture and recycled aquaculture, which focus on sustainable agricultural practices.
However, ongoing unrest, particularly in Palestine, Lebanon and the Balkans, poses a serious threat to this collective progress while disrupting global supply chains and threatening global economic security and stability. Therefore, His Majesty emphasized the importance of the global community to unite and prevent the increase and spread to their respective regions and beyond.
During the retreat session, the APEC leaders, among others, discussed cooperation and exchanged views on matters related to the priority areas of the APEC meeting this time including promoting inclusive and interconnected growth through trade and investment; promote innovation and digitization to encourage the transition to a formal and global economy; and ensure sustainable growth for resilient development.
At the end of the retreat, the President of the Republic of Peru, Her Excellency Dina Ercilia Boluarte Zegarra, handed over her position as APEC Chairman to the President of the Republic of Korea, His Excellency Yoon Suk Yeol, who will be the APEC Chairman for 2025.
In addition, the documents namely the Ichma Statement on New Perspectives to Advance the Asia Pacific Free Trade Area; Roadmap to Promote the Transition to a Formal and Global Economy Five; and the 2024 APEC Leaders’ Machu Picchu Declaration was approved and adopted.
RETURN DEPARTURE FROM LIMA, PERU
After attending the APEC Economic Leaders’ Retreat, His Majesty departed from Lima, Republic of Peru.
Before leaving, Doa Selamat was recited by the Government Mufti, Yang Berhormat Pehin Datu Seri Maharaja Dato Paduka Seri Setia (Dr) Ustaz Haji Awang Abdul Aziz bin Juned.
Present at the Jorge Chavez International Airport to greet His Majesty’s party was the President of the Council of Ministers of the Republic of Peru, TYT Gustavo Lino Adrianzen.
Also present was the Ambassador Extraordinary and Plenipotentiary of Brunei Darussalam to the United States (Non-Resident Ambassador Extraordinary and Plenipotentiary of Brunei Darussalam to the Republic of Peru), His Excellency Dato Paduka Haji Serbini bin Haji Ali.
LEAVING TO ATTEND APEC LEADERS’ INFORMAL DIALOGUE WITH GUESTS
Meanwhile, yesterday, His Majesty went to attend the Informal Dialogue of APEC Leaders with Guests, located at LCC, Lima, Republic of Peru.
Leaving to accompany His Royal Highness is DYTM Paduka Seri Pengiran Muda ‘Abdul Mateen.
During the session, His Majesty expressed concern over the ongoing geopolitical unrest in Palestine, Lebanon and the Balkans, which has had a significant impact on global progress, supply chains, security and economic stability.
Therefore, collective action by the international community is essential to prevent the further escalation and spread of this conflict.
His Majesty went on to emphasize the role of APEC which has existed for a long time since its establishment in 1989 in promoting economic cooperation throughout the Asia Pacific region. In addition, His Majesty underlined APEC’s commitment to the Bogor Goals, which focus on free and open trade and supporting a rules-based multilateral trading system, both of which are important for enhancing economic stability and promoting growth.
As APEC progresses, His Majesty noted that the region is facing new economic challenges that could affect shared prosperity.
In response to these challenges, sustainability and inclusion are essential in today’s global economy.
He also emphasized APEC’s continued focus on sustainable and inclusive growth, as reflected in the Bangkok Goals. The goal shows the region’s ability to adapt to changing economic realities. In addition, His Majesty referred to the Ichma Statement as an important step in enhancing APEC discussions on new areas, including digitization.
As technology continues to shape life, it is driving the growth of e-commerce, digital payments and online education. To truly benefit from digital transformation, His Majesty emphasized the need to build skills that empower people and businesses.
Looking at the empowerment of micro, small and medium enterprises (MSMEs) across the region, especially during COVID-19, His Majesty highlighted the role of initiatives such as Accelerate Bootcamp and online platforms such as Coursera in supporting PMKS in Brunei Darussalam and beyond.
This initiative provides the necessary skills for PMKS to succeed. Through this effort, His Majesty reiterated his commitment to prepare the people to thrive in the digital age, which can ensure that everyone can engage and benefit from the rapidly changing economy.
In concluding the message, His Majesty conveyed good wishes to TYT Yoon Suk Yeol, in hosting APEC in 2025 and Canadian Prime Minister, TYT Justin Trudeau, for the G7 next year.
A dialogue attended by APEC leaders as well as representatives from the United Arab Emirates government; Food and Agriculture Organization of the United Nations; and the Development Bank of Latin America and the Caribbean, among others discussed the agenda to increase the effectiveness of economic cooperation in achieving strong, balanced, guaranteed, sustainable and inclusive growth; as well as addressing the needs of the people.
BILATERAL MEETING WITH THE PRESIDENT OF THE REPUBLIC OF KOREA
His Majesty then left to attend a bilateral meeting with TYT Yoon Suk Yeol, at LCC, Lima, Republic of Peru.
Leaving to accompany His Royal Highness is DYTM Paduka Seri Pengiran Muda ‘Abdul Mateen.
During the bilateral meeting, His Majesty expressed his happiness that Brunei Darussalam and the Republic of Korea (ROK) continue to enjoy long-standing friendly relations in areas of strategic interest as well as in new areas including information technology and agriculture. .
As Brunei Darussalam and the ROK celebrate the 40th anniversary of diplomatic relations, His Majesty is confident that the two countries will continue to work closely towards strengthening friendship and cooperation between the people and the country, and further believes that there are many opportunities to further strengthen cooperation in ICT field, including Smart Cities.
Regarding bilateral relations, His Majesty welcomes more Korean investors as the ROK is an important trading partner, where close cooperation in various investment projects has brought economic benefits.
In addition, His Majesty also emphasized to safeguard common interests especially in food security, therefore Brunei Darussalam is interested in further deepening economic relations in the field of agriculture through the BIMP-EAGA ROK Cooperation Fund.
Finally, His Majesty expressed his appreciation for the continued support of the ROK through scholarships and training programs in strengthening the friendship between the people of the two countries.
In concluding the message, His Majesty wished success to the ROK which will host APEC in 2025.
Diplomatic relations between Brunei Darussalam and ROK began on 1 January 1984, where the two countries cooperate extensively in various fields including economy, education, infrastructure, ICT and people-to-people exchanges.
APEC ECONOMIC LEADERS GALA DINNER
Yesterday evening, His Majesty went to attend the APEC Economic Leaders Gala Dinner, hosted by PYT Dina Ercilia Boluarte Zegarra, as Chairman of the 31st APEC Economic Leaders Meeting.
The ceremony was held at the Palacio de Gobierno (Government Palace), Lima, Peru.
On arrival His Majesty was welcomed by PYT the President of the Republic of Peru. The ceremony was graced with several cultural performances.
Leaving to accompany His Royal Highness is DYTM Paduka Seri Pengiran Muda ‘Abdul Mateen.