MITI to focus on structural reforms at APEC meeting


MINISTRY of International Trade and Industry (MITI) aims to advance Asia-Pacific Economic Cooperation’s (APEC) structural reform effort — in support of respective APEC economies’ domestic reform — in the third APEC Structural Reform Ministerial Meeting (SRMM) virtually today.

The ministry said in a statement that the meeting will focus on the role of structural reform designed to support post-pandemic economic recovery.

“The discussion of the third SRMM will be guided by a specific topic which is green recovery supporting structural reform for sustainable economic growth and recovery from economic shock; structural reform recovery from economic shock; and the interplay between macro and macro-economic policies ineffective recovery from economic shocks.

“The ministry is expected to exchange views on how structural reform will be implemented towards economic recovery that is inclusive, sustainable and driven by innovation,” MITI said.

MITI Minister Datuk Seri Mohamed Azmin Ali and his deputy Datuk Lim Ban Hong will be attending the meeting.

This year, Malaysia together with Canada will be championing the work on “resolving insolvency”, one of the five indicators in the third APEC Ease of Doing Business action plan, which will be adopted in the upcoming SRMM.

The third SRMM will be the second ministerial meeting hosted by New Zealand in its capacity as host of APEC 2021.

Ministers and officials from 21 APEC economies are expected to participate in the meeting, which will be chaired by New Zealand Commerce and Consumer Affairs Minister Dr David Clark.

Other keynote speakers participating include APEC Finance Ministers’ Process chairman Grant Robertson, Organisation for Economic Cooperation and Development secretary general Mathias Cormann and International Monetary Fund chief economist Gita Gopinath.