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Retreat Session II of APEC Economic Leaders' Meeting

His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar 'Ali Saifuddien Sa'adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam in a titah stresses the importance in accelerating recovery, strengthening trade and investment in a holistic and coordinated approach in the post-pandemic era, especially for Micro, Small and Medium Enterprises, MSMEs. In the titah at the Retreat Session 2 of the APEC Economic Leaders' Meeting 2022, His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam also emphasizes the importance in helping MSMEs be future-ready by widening their knowledge base to be more climate-resilient; formulating a coherent and predictable policy environment to attract investors and entrepreneurs; in integrating them into the regional and supply chains; and equipping them with digital skills. Accompanying His Majesty was His Royal Highness Prince 'Abdul Mateen. The Retreat Session 2 was held at Queen Sirikit National Convention Center, QSNCC, Bangkok, Thailand. 

With the theme 'Sustainable Trade and Investment', Session 2 of the Retreat began with welcoming remarks by His Excellency Prayut Chan-O-Cha, Prime Minister of Thailand. At the session, His Majesty and other APEC leaders discussed issues on cooperation and exchanged views on regional and international issues of common concern, and listened to a presentation by the Managing Director of the International Monetary Fund regarding the Global Economic Outlook. 

During the Retreat Session 2, His Majesty in the titah acknowledges the positive outcomes of the 12th World Trade Organisation, WTO Ministerial Conference that reflected its Members' commitment to ensure that global trade remains unimpeded. His Majesty also calls for APEC to continue upholding the spirit of multilateralism and in engaging all stakeholders to ensure its role as an incubator will continue to contribute to the momentum of the WTO's ongoing work. In ending the titah, His Majesty expresses support to the United States of America as it prepares to take over the APEC Chairmanship for 2023, with the theme 'Creating a Resilient and Sustainable Future for All.' 

At the APEC Economic Leader's Meeting, the APEC Economic Leaders have released two outcome documents namely the APEC Economic Leaders' Declaration and the Bangkok Goals on BioCircular-Green Economy. The Economic Leaders' Declaration highlighted APEC's work throughout 2022 during the Thailand's Chairmanship. This includes efforts on advancing the Free Trade Area of the Asia Pacific, FTAAP, safe passage, women's economic empowerment and sustainability through the Bio-Circular-Green, BCG Economy model. 

Meanwhile, the Bangkok Goals on BCG Economy seeks to affirm APEC Leaders' commitment to continue advancing its sustainability objectives in a bold, responsive, and comprehensive manner to address the heightened economic and environmental challenges and disruptions facing the region, while reinforcing and contributing to ongoing global actions. 

APEC is one of the valuable platforms that promotes dialogues, exchange of views and best practices on initiatives and policies that contributes to a more conductive economic climate. As an incubator of ideas, APEC also builds on economic and technical cooperation as well as capacity building programmes on various areas. Brunei Darussalam's membership in APEC has thus enabled participation in these policy dialogues and capacity building engagements which can contribute towards achieving the goals of Wawasan Brunei 2035.

News courtesy of Radio Television Brunei
​Photo courtesy of InfoFoto​