APEC 2020: Kuala Lumpur Declaration reflects aspirations of members

KUALA LUMPUR:The Kuala Lumpur Declaration 2020 will be a reflection of the aspirations of the Asia-Pacific Economic Cooperation (APEC) in continuing to drive regional holistic development.

Prime Minister Tan Sri Muhyiddin Yassin said it was not only a document that helped economists repel current challenges but also brought prosperity to every citizen in the region.

"This is in line with Malaysia's efforts in championing the framework that the global economy takes into account economic progress beyond Gross Domestic Product (GDP).

"As the host of APEC 2020, Malaysia brings improvements in aspects of economic growth and development, which are often overlooked such as the standard and quality of life of the people," he said at a press conference after the APEC Economic Leaders Meeting (AELM) 2020 which took place virtually on Friday night .

He added that the COVID-19 pandemic had united leaders in setting a response to address the health and economic crisis.

Among the contents of the declaration include the fight and mitigation measures of the COVID-19 pandemic.

Apart from improving the direction of trade and investment, the Kuala Lumpur Declaration 2020 also emphasises inclusive economy through digital economy and technology.