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Apec urged to address rising trend of trade restrictions - Anwar

LIMA: Asia-Pacific Economic Cooperation (Apec) member states must not remain silent in the face of discriminatory practices and measures that obstruct free and fair trade, Prime Minister Datuk Seri Anwar Ibrahim said.

Anwar also said Apec member states must address the rising trend of protectionism and trade restrictions.

The prime minister added that, in the spirit of Apec, the bloc must also denounce ambivalent politics, inadequate responses to inconsistencies, and discriminatory practices, including cruelty inflicted on individuals.

"I am honoured as this is one of the early sessions of Apec that touches upon several global disasters. 

"This is also one of the sessions of Apec that addresses, to some extent, the clear atrocities against the people of Gaza, which at times, we choose to ignore and contradict the spirit of humanity," he said. 

Anwar said this in his speech during Malaysia's Intervention at the Apec Economic Leaders Meeting (AELM) Retreat.

Anwar, who is also Finance Minister, said free trade must evolve to encompass fair and humane trade, which is a framework that ensures trade benefits are inclusively shared without leaving anyone behind. 

He added that the vision must also be Apec's philosophy, to restore the Free Trade Area of the Asia-Pacific (FTAAP) by combining all modern elements such as digital trade access, climate-friendly provisions and empowering small businesses. 

Anwar said a humane economy with fair labour practices, the fair distribution of opportunities and climate resilience must be driven by suitable policies. 

Following this, he said Apec must champion the matter by strengthening its role to generate ideas and support policies that could increase employee performance, empower micro, small and medium enterprises and place sustainability at the core of progress.

"I choose to highlight this as there is a growing cynical talk that our discussions are only benefitting certain parties and neglect the plight of the marginalised and poor in our region," he said. 

Anwar, at the same time, said the economic growth of a country must be measured beyond gross domestic product, where it must reflect the well-being of the people and the world. 

Established in 1989, Apec is a regional economic forum aimed at promoting free trade and benefiting from increased connectivity within the Asia-Pacific region.

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