LIMA, PERU: Prime Minister Datuk Seri Anwar Ibrahim will highlight key global issues and strengthen bilateral relations during his participation in the 2024 Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Week in Peru.
This official visit also provides an important opportunity for Malaysia to play a role in international economic issues that have a significant impact on developing countries.
During meetings with his counterparts and APEC sessions, Anwar is expected to present Malaysia's views on the country's trade and investment policies, particularly in attracting foreign investment to Malaysia.
He is also expected to introduce Malaysia as a competitive and stable Foreign Direct Investment (FDI) destination amid the challenges of the global economy.
Malaysia's Ambassador to the Republic of Peru, Ahmad Irham Ikmal Hisham, stated that the Prime Minister will also discuss efforts to strengthen bilateral trade with APEC economies. This is important to ensure that Malaysia's trade relations with these countries remain strong and continue to grow.
Throughout the visit to Peru, the ministers accompanying the Prime Minister will also hold bilateral meetings with their counterparts. These meetings will focus on discussing bilateral and regional issues of mutual interest, further strengthening Malaysia's relationship with other APEC economies.
"Among Malaysia's key agendas during this APEC meeting is to continue its commitment to the Putrajaya Vision 2040, which was first introduced when Malaysia chaired APEC in 2020. Malaysia will urge APEC member countries to continue working towards realising this vision, drawing inspiration from the Aotearoa New Zealand Action Plan and Thailand's Bio-Circular-Green (BCG) economy," he said.
Malaysia also hopes that APEC can shape the future of the Asia-Pacific region as an open, dynamic, resilient, and peaceful region. This is crucial to ensure that the stability of this strategically important region is maintained while addressing economic and geopolitical challenges.
It is expected that discussions within APEC will positively impact Malaysia by strengthening trade relations and creating new investment opportunities, while also opening doors for local industries to explore markets in other APEC economies.
According to the latest trade data, trade between Malaysia and Peru has seen impressive growth, with a value of RM1.16 billion from January to July 2024. This marks a 36.3% increase compared to RM847.7 million during the same period in 2023, showing the great potential to be explored in bilateral economic relations.
In addition, the Prime Minister is expected to present Malaysia as a pioneer in sustainable economic practices and green development under the Madani Economic Framework initiative. This approach emphasises the importance of inclusive development and sustainable growth, which aligns with APEC's development goals and attracts investors who support sustainability.
Dialogues and meetings with business leaders at the APEC CEO Summit will also provide the Prime Minister an opportunity to present Malaysia as a hub for digital innovation and renewable energy that can compete internationally.
Overall, Malaysia's active participation in APEC 2024 will not only strengthen bilateral relations and regional cooperation, but also help enhance the country's position in the eyes of foreign investors and expand the economic network, benefiting Malaysia and the Asia-Pacific region as a whole.