LIMA, Peru: Asia Pacific Economic Cooperation (APEC) leaders have agreed that the group must return to its roots against the backdrop of global uncertainty and growing anti-globalisation movement.
Prime Minister Datuk Seri Najib Razak said the 21-member group acknowledged that it must revert to its original purpose and core values, and take steps to ensure its people are not marginalised amid the slowing global economy.
"We have to stress on our core values. APEC is known as an organisation that upholds openness, liberalisation and globalisation," said Najib.
He shared with the Malaysian media several key points from the leaders' declaration issued at the end of the APEC Economic Leaders' Meeting on Sunday.
Najib also urged Malaysians to equip themselves and be more competitive to face the economic slowdown by focusing on re-skilling and the digital economy.
He said the World Bank had lowered the global economic growth to 2.4 per cent this year from 2.9 per cent. The World Trade Organisation, meanwhile, revised the trade expansion from 3.6 per cent previously to 1.8 per cent - 3.1 per cent.