LIMA, PERU: Economic leaders from 21 Asia Pacific Economic Cooperation (Apec) member countries kicked off the 2024 Apec Economic Leaders' Week here this week, with President Dina Boluarte welcoming the arrival of leaders.
The summit is held under the theme "Empower, Include, Grow," focusing on key challenges facing the Asia Pacific region, including climate change, sustainable energy solutions, digital economic transformation and trade facilitation.
Senior officials, ministers and Apec economic leaders are expected to discuss policies to address current challenges while promoting innovation and inclusive economic participation.
"Priority areas include enhancing trade and investment to achieve inclusive growth, innovation through digitalisation and resilient sustainable development," said the Apec Secretariat in a statement.
Prime Minister Datuk Seri Anwar Ibrahim will lead Malaysia's delegation to the 31st Apec Economic Leaders' Meeting (AELM) from Nov 14 to 16, accompanied by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and Foreign Minister Datuk Seri Mohamad Hasan.
Meanwhile, ambassador Carlos Vasquez, chair of Apec senior officials for 2024, emphasised the importance of this summit in advancing dialogue on issues relevant to the regional community, especially in sustainability, resilience, and digital inclusion.
"As the host, Peru has the opportunity to steer discussions on these issues, strengthening its role as a key driver of the Asia-Pacific agenda," he said.
Apec, which represents nearly two-thirds of global GDP and half of world trade, is committed to uniting its member countries in efforts to drive inclusive economic growth.
Apec Secretariat executive director Tan Dri Dr. Rebecca Sta Maria said Apec economies require a comprehensive approach due to their interconnected nature.
Meanwhile, President Boluarte will conclude Apec Economic Leaders' Week with the leaders' meeting on Nov 15-16, where future cooperation directions among Apec economies will be outlined.
This will be preceded by the Apec Ministerial Meeting on Nov 14, chaired by Foreign Minister Elmer Schialer and Foreign Trade and Tourism Minister Desilú León.
The Apec summit also provides space for Indigenous community representatives, who will meet with ministers on Nov 13 to discuss inclusive growth and economic empowerment from their perspective.
"This meeting aims to ensure their involvement in a fairer and more balanced economic development agenda," it said.
Apec senior officials are expected to meet on Nov 11-12 to finalise initiatives supporting trade growth and formulate a shared policy framework.
The Apec Policy Support Unit is also expected to present its Regional Trends Analysis report on Nov 12 as a basis for policy discussions throughout the week.
The business community is also participating in Apec Economic Leaders' Week with the Apec 2024 CEO Summit on Nov 14-15, facilitating open dialogue between regional leaders and business executives.
The Apec Business Advisory Council will also hold meetings from Nov 10-12, followed by a dialogue session with Apec leaders on November 15.
Additionally, the Apec SME Summit is scheduled for November 13 to discuss the unique challenges and opportunities facing this sector in the regional economy.
"This reflects Apec's efforts to empower SMEs to contribute to the global economy," it said.
This is the third time Peru has hosted Apec after 2008 and 2016, with over 270 meetings held throughout 2024 in several cities such as Lima, Arequipa, Pucallpa, Trujillo, and Urubamba.
Each meeting has produced key documents forming the basis of cooperation among Apec member countries to achieve inclusive and sustainable regional growth.