PM Lee to attend virtual Apec Economic Leaders' meeting

Prime Minister Lee Hsien Loong will take part in the Asia-Pacific Economic Cooperation (Apec) Economic Leaders' meeting tomorrow.

This year's edition is being held virtually. It will be chaired by New Zealand Prime Minister Jacinda Ardern.

Apec is a regional economic forum established in 1989. It comprises 21 member economies, which account for nearly half of global trade and more than 60 per cent of the world's gross domestic product. These include seven of the 10 Asean nations, as well as Australia, China, New Zealand, Russia and the United States.

On top of attending the Economic Leaders' meeting, PM Lee will take part in today's virtual Apec Business Advisory Council Leaders' Dialogue, said the Prime Minister's Office in a statement.

He has also recorded a 15-minute speech to be broadcast at a session on the opportunities of digital disruption at the two-day Apec CEO Summit, which gathers chief executives, business leaders and politicians from around the world. The speech will be streamed live today.

PM Lee will be accompanied by senior officials from the Foreign and Trade and Industry ministries.

This year's Apec summit, hosted by New Zealand, will focus on three priorities. They are strengthening recovery through economic and trade policies, increasing inclusion for sustainability and recovery, and pursuing innovation and a digitally enabled recovery. Ms Ardern had earlier said the meeting will focus on "charting a path to recovery out of this once-in-a-century crisis".

Trade and Industry Minister Gan Kim Yong and Minister in the Prime Minister's Office Maliki Osman also took part in the Apec Ministerial Meeting, which was held over two days earlier this week.

Mr Gan spoke of the importance of strengthening national and regional connectivity to facilitate access to essential goods and services, and highlighted the role that Apec has played in deepening regional economic integration.

He also encouraged Apec economies to work towards "substantive and meaningful outcomes" at the upcoming World Trade Organisation Ministerial Conference - the organisation's highest decision-making body.

Dr Maliki, who is also Second Minister for Foreign Affairs, added that international cooperation and digital readiness are essential. He also urged Apec to build environmental sustainability into its proposals, to ensure that economic recovery will not cause further harm to the environment.