By Sim YH –
BANDAR SERI BEGAWAN, NOV 27 – With challenges becoming increasingly borderless, business leaders from across the Asia Pacific region are calling on APEC leaders to take decisive action to promote inclusive and sustainable growth.
The call was made by members of the APEC Business Advisory Council (ABAC) in a meeting with APEC leaders in the annual dialogue that took place in Lima, Peru on November 15.
ABAC Chairman Julia Torreblanca was quoted as saying that with the global economy remaining resilient, APEC economies are struggling with inflation, economic inequality, high interest rates and the urgent need to increase investment for a green and climate resilient future.
In that connection, he added, the proposals presented are designed to help APEC respond quickly to the challenges, generating opportunities for citizens and businesses throughout the region.
He said that they want to enable equitable access for economic benefits, support businesses with a solid trading base and ensure resilient and sustainable growth.
ABAC also urged APEC to prioritize the needs of micro, small and medium enterprises (MSMEs), especially those led by indigenous entrepreneurs and women. The council also proposed policies to promote digitization and provide equitable access to financing including venture capital for women entrepreneurs.
ABAC also sees digital tools as key to integrating more businesses into the opportunities and protections provided by the formal economy and connecting PMKS to the global value chain, fostering better opportunities for its people.
The Chief Executive Officer of Standard Chartered Brunei, Pengiran Aki Ismasufian bin Pengiran Haji Ibrahim said that ABAC Brunei’s delegation was honored to attend the ABAC Dialogue with leaders held in Lima, Peru, recently.
He stated that the significant event provided a platform for members to engage directly with influential world leaders, fostering meaningful discussions on critical issues of trade and the global economy.
Through the interaction, ABAC Brunei reaffirmed its commitment to promoting sustainable economic growth, fostering innovation and enhancing regional collaboration within the APEC framework.
The delegation’s participation underscores Brunei’s active role in promoting resilient and inclusive economic policies that benefit the broader Asia-Pacific community.
Pengiran Aki Ismasufian expressed his appreciation for the opportunity given to contribute to the important dialogue and will continue to collaborate with APEC leaders to address common challenges and open up future opportunities.
Meanwhile, the Managing Director of Exceltech Solutions Sdn Bhd, Awang Hafriz Fayadh said representing Brunei Darussalam at the ABAC Meeting, the APEC SME Summit and the APEC CEO Summit in Lima, Peru, is a great opportunity to interact with policy makers and leaders global business.
The meeting, he explained, emphasized the importance of collaboration in fostering innovation and inclusive economic growth, especially for PMKS Brunei, with a strategic focus on diversity and sustainability, which is in a good position to take advantage of emerging opportunities in the APEC region.
He expressed great excitement about the shared commitment to advancing digital transformation and empowering businesses to thrive in a rapidly changing global landscape.
“Now it is our shared responsibility to translate this view into actionable strategies for the future of Brunei’s economy,” he added.