Tan Sri Rebecca Sta Maria urged stronger Asia-Pacific cooperation, calling for flexible trade strategies, closer government-business ties, and greater support for smaller economies and MSMEs to ensure inclusive global participation.
00:00As global trade faces increasing fragmentation, regional cooperation has become more critical than ever.
00:07Our correspondent Fahana Sheh reports from the Kuala Lumpur Roundtable on Asia-Pacific Regional Cooperation,
00:13where leaders and experts are charting the future of Asia-Pacific integration.
00:19I'm here at the Kuala Lumpur Roundtable on Asia-Pacific Regional Cooperation,
00:24where top leaders, policy makers and experts gather to discuss some of the world's most pressing issues
00:29among them are shifting global dynamics and trade challenges.
00:33Now, I caught up with Tan Sri Dato Dr. Rebecca Fatima, former Executive Director of the APEC Secretariat,
00:38to discuss building resilience and a strong business community in response to the evolving trade and cooperation landscape.
00:45Have a listen.
00:47What's happening in the world and in this environment is something that we have not experienced in the past.
00:55This sort of trade tensions that has taken the form of such intense negotiations around uncertainties.
01:06You're negotiating around uncertainties.
01:08You're not sure what's going to come out of the negotiations, even after you leave the negotiating room.
01:14So, it's a skill that requires us and a mindset to think of making sure we're adaptable, we're flexible, we're agile in dealing with this level of uncertainty.
01:27And I think what we'll see happening more is that this level of uncertainty will just continue.
01:33So, for me, it's very important for governments to engage with the business.
01:38At the end of the day, it's about the business in each of our economies.
01:42So, working very closely with the businesses to appreciate, to understand how we then can support business.
01:50I think that is the sort of questions, the sort of kind of questioning and thinking that negotiators should go into the discussions with the U.S.
01:58in any trade negotiation for that matter.
02:01How will this impact business?
02:04What do we need to do to ensure that we mitigate some of the impact?
02:09You cannot do away with the impact, there will be impact, you know.
02:13So, how do you work with the business community to ensure that you stand as government supporting and helping the businesses go through this very difficult and challenging time?
02:24Rebecca also highlighted the need for capacity building and inclusivity,
02:29ensuring smaller economies and MCMEs get the support needed to fully participate in international trade and the formal economy.
02:36The capacity building aspect of APEC is one of the most important pillars in APEC,
02:44because that's where we ensure that the smaller economies are not left out,
02:49that they provided the necessary technical assistance and capacity building so that they can participate more fully
02:56in these international negotiations, international bodies.
03:01Also, we have a stream of work which focuses on building capacity of small and medium enterprises.
03:08So, this is another aspect of making sure we're inclusive in the work that we do.
03:13And last year, we did a lot of work on ensuring that we move folks who are in the informal economy to the formal economy.
03:20Now, because, you know, if you look at our spread of MSMEs, especially in the smaller and developing, more developing economies,
03:29a lot of their businesses tend to be in the informal sector.
03:33You know, in one case, up to 80%, you know, of the businesses are in the informal sector.
03:38How do you bring them into the formal sector?
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