HM hails G20, Asean steps for economic recovery

National 2 minutes, 49 seconds


HIS Majesty Sultan Hj Hassanal Bolkiah Mu'izzaddin Waddaulah, the Sultan and Yang Di-Pertuan of Brunei Darussalam yesterday welcomed the complementary efforts undertaken in the G20 and in Asean to ensure that the global economy continues its recovery. To achieve inclusive growth, His Majesty encouraged the sharing of experiences to improve the development of human resources, social security and to strengthen small and medium businesses.

His Majesty and other Apec leaders were attending the Second Retreat Session at the Istana.

The theme of discussion for the Second Retreat was "Sustaining Growth" which focused on global economic crisis, climate change and inclusive, balance and sustainable growth.

His Majesty stressed that in order to achieve sustainable development, consideration must be given to climate change efforts. The monarch shared with other leaders the efforts Brunei Darussalam has taken in regional conservation such as the Heart of Borneo and the "Coral Triangle Initiative".

His Majesty again emphasised the need for sharing of experiences, best practices and technical cooperation to develop more efficient use of energy and explore alternative sources.

His Majesty was part of the final round of Apec talks that resulted in a positive declaration by the Asia-Pacific leaders. The declaration, conveyed by Prime Minister of Singapore Lee Hsien Loong, highlighted the commitment by Apec leaders to establish a new growth paradigm.

According to the final statement, the Apec is looking to achieve this through balanced growth, structural reforms; and inclusive growth by broadening access to economic opportunities and building resilience to economic shocks, as a result of compatible global efforts to protect the environment and mitigation of climate change.

This was followed by a firm intent by Apec to have a connected Asia-Pacific in the 21st century, in which accelerating Regional Economic Integration (REI) remains a key issue.

Apec leaders also mentioned strengthening economic and technical cooperation, with capacity building as part of reforms that will facilitate inclusive growth and REI continuing as a priority.

With this in mind, Apec is open to ongoing efforts that are aimed at developing a more strategic, goal-oriented and multi-tier approach toward capacity building. This is also part of the Apec efforts to raise capacity building as priorities shift to meet new challenges that may arise.

After the Apec leaders' meeting, His Majesty and other Asean heads of state attended the Asean-US Leaders' Meeting, where the monarch expressed appreciation to the United States in revitalising its policy towards Asia, particularly its relationship with Asean.

His Majesty also welcomed the US proposal for establishing the Asean-US Eminent Group and expressed support for developing the Plan of Action for Asean-US Dialogue Relations for 2011 to 2015 towards enhancing relations in trade, energy, environment as well as people-to-people exchanges.

In the morning, His Majesty and other Apec leaders attended a meeting on climate change. Also present at the meeting, which was chaired by Prime Minister of Singapore, was L L Rasmussen, Prime Minister of Denmark as the President of the United Nations Framework Convention on Climate Change, who briefed the leaders on the current progress on climate change.

In the evening, His Majesty left Singapore after attending the 17th Apec Economic Leaders' Meeting. Present at the Changi International Airport to bid farewell to His Majesty was Singaporean Minister at the Prime Minister's Office Lim Boon Heng.

The next Apec summit will take place in Yokohama, Japan.

The Brunei Times