KUALA LUMPUR (May 28): Malaysia views Asia-Pacific Economic Cooperation (APEC) as a driver of economic growth and greater regional integration, according to the Ministery of International Trade and Industry (MITI).

Through trade and investment liberalisation and facilitation, MITI said APEC, a regional economic forum, aims to create jobs and improving living standards.

“Malaysia will continue to be a constructive participant in this process. The next Ministers Responsible for Trade (MRT) meeting will be held in Chile in May 2019,” MITI said in a statement today.

MITI’s statement was released following the conclusion of the recently held two-day MRT Meeting, which was held at Port Moresby, Papua New Guinea from May 25 to May 26.

Themed “Harnessing Inclusive Opportunities, Embracing the Digital Future”, the meeting was attended by 21 APEC Economies, and Malaysia was represented by MITI Deputy Secretary General of Trade, Datuk Isham Ishak.

MITI said the meeting identified priorities relating to improving connectivity, deepening regional economic integration, promoting sustainable and inclusive growth, as well as strengthening inclusive growth through structural reform.

Recognising the importance of digital economy as the enabler in today’s businesses, MITI said the ministers deliberated on APEC’s leadership in the digital agenda and how to harness and foster sustainable and inclusive growth that will benefit all segments of society, including MSMEs and Women.

In addition, MITI said the ministers had also continued to emphasise on deepening regional economic integration and connectivity, through strengthened commitment to achieve the Bogor Goals of free and open trade and investment by 2020, as well as the realisation of the Free Trade Area of the Asia- Pacific (FTAAP).

“The FTAAP is envisaged to be of high-quality and comprehensive, building upon the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CP-TPP) and Regional Comprehensive Economic Partnership (RCEP), which have been identified as the two possible pathways towards the realisation of FTAAP,” MITI added.

Founded in 1989, APEC ensures that goods, services, investment and people move easily across borders.