The AELM will be chaired by Malaysian Prime Minister Tan Sri Muhyiddin Yassin. Photo: Bernama Kuala Lumpur (VNA) - Malaysia said on October 26 it will host the first ever virtual meetingof leaders from Asia-Pacific Economic Cooperation (APEC) economies in November dueto the COVID-19 pandemic.
In a statement, the International Trade andIndustry Ministry said Prime Minister Muhyiddin Yassin will chair on November 20 the APEC Economic Leaders'Meeting (AELM), which will see the participation of all 21 APEC economicleaders.
"Malaysia is making history bytransforming APEC's usual ways of doing business and convening a majority ofAPEC meetings in a fully virtual format," it said.
The Southeast Asiannation, which will be hosting APEC for the second time, said the meeting isexpected to launch the region's Post-2020 Vision, the key policy set to replacethe "Bogor Goals" which will reach maturity at the end of the year.
APEC wasestablished in 1989, consisting of 21 member economies in the Asia-Pacificregion with the same purpose of creating greater prosperity for the people inthe region by promoting balanced, inclusive, sustainable, innovative and safegrowth, as well as regional economic integration.
With a total populationof 3 billion, the 21 APEC economies account for about 60 percent of the world'stotal GDP and nearly 50 percent of global trade. APEC is currently promoting tradeand investment liberalisation and facilitation of business, human security, andeconomic and technical cooperation, aiming to achieve sustainable growth andprosperity in the region./.
VNA
