MANILA – The economic recovery of countries grappling with the coronavirus disease 2019 (Covid-19) could only be achieved if there is “closer” global cooperation, President Rodrigo R. Duterte said Friday.
During his virtual participation in the 28th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting, Duterte pushed for closer international cooperation to hasten the Asia-Pacific region’s economic recovery from the pandemic.
He made the call as he attributed the “uneven” recovery of coronavirus-hit countries to “weak domestic systems or pre-pandemic economic fault lines,” as well as “structural and artificial constraints in the global economy,” the Office of the President (OP) said in a press statement issued Friday night.
“Closer international cooperation is needed to address these constraints and to ensure that all countries recover from this crisis,” Duterte, as quoted by the OP, said.
He told APEC leaders that there is a need for “improved risk management systems, better response and mitigation measures, and stronger support mechanisms for vulnerable communities.”
“To achieve these goals, the President called for the creation of an integrated system on vaccine passport validation and contact tracing, institutionalization of social protection for non-traditional forms of employment, and promotion of transnational education and digital inclusion in APEC economies,” Malacañang said.
Addressing climate change
Meanwhile, Duterte also renewed his callfor developed countries to fulfill their commitment to climate financing, technology transfer, and capacity-building in developing economies, saying “it is the right thing to do” to mitigate the impact of climate change.
Duterte reiterated his appeal as he noted the challenge in shifting to a green economy faced by developing countries like the Philippines.
“Developing economies such as the Philippines contribute the least to climate change but we are the most vulnerable to its disastrous consequences. And the cost of transitioning to a green economy is too high for developing countries to afford. This is the simple truth,” he said.
The theme of this year’s APEC Economic Leaders’ Meeting hosted by New Zealand is “Join, Work, Grow. Together. Haumi Ē, Hui Ē, Tāiki Ē.”
Joining the President during the virtual meeting were Trade Secretary Ramon Lopez, Socioeconomic Planning Secretary Karl Kendrick Chua, Foreign Affairs Undersecretary Lourdes Yparraguirre, Presidential Assistant on Foreign Affairs Robert Borje, Foreign Affairs Assistant Secretary Eric Gerardo Tamayo, and Trade Assistant Secretary Allan Gepty.
The APEC Economic Leaders also endorsed the Aotearoa Plan of Action, the implementation plan for Putrajaya Vision 2040.
The action plan highlights key imperatives on Trade and Investment, Innovation and Digitalization, and Strong, Balanced, Secure, Sustainable, and Inclusive Growth.
The 21-member economies of the APEC are Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, the Russian Federation, Singapore, Chinese Taipei, Thailand, the United States, and Vietnam. (PNA)
Source: Business Diary Philippines
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