SINGAPORE: Singapore has offered to host the Asia-Pacific Economic Cooperation (APEC) summit in 2030, The Straits Times (ST) reported.
Prime Minister Lawrence Wong, said this is one way the country will contribute to ensuring more inclusive growth, against a backdrop of increasing geopolitical rivalry and weakening support for free trade.
Wong, who is also the Finance Minister, told reporters at the end of this year's summit in Peru that Singapore views APEC as a valuable platform and will do its part to support the grouping in various ways, including hosting APEC summits.
Singapore is one of the 12 founding member economies of APEC, which was established in 1989. It last held the APEC Chairmanship in 2009.
Wong highlighted concerns at this year's summit regarding the weakening support for globalisation and free trade.
The prime minister noted that many people in APEC economies feel the benefits of free trade have not been equally shared.
Meanwhile, geopolitics is resulting in more things being seen through a security lens, rather than that of win-win cooperation.
He welcomed the fact that, instead of introducing more barriers, APEC members agree that the solution is to strengthen trade and investment links, ensuring that economic growth benefits everyone and becomes more inclusive.
The APEC leaders in a joint statement at this year's summit, reaffirmed their support for the rules-based multilateral trading system, with the World Trade Organisation (WTO) at its core, and remain committed to working toward necessary WTO reform, in order to improve all of its functions.
Regarding US-China relations, Wong said he hopes China will be able to establish similar "guardrails" with the new Trump administration to reduce conflict between the two.
He noted that both countries have a mutual understanding not to escalate thorny issues such as those concerning Taiwan and the South China Sea.
"To the extent that Singapore can help, we will certainly do our part to facilitate," he was quoted as saying.
From Peru, Wong will be attending the Group of 20 (G-20) summit in Rio de Janeiro, Brazil from Nov 17 to 20. – BERNAMA