San Francisco - During the APEC Economic Leaders' Retreat, Session Two, His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam highlighted the significance of regional economic integration initiatives such as the Regional Comprehensive Economic Partnership (R-CEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Indo-Pacific Economic Framework (IPEF). His Majesty emphasized the importance of establishing the Free Trade Area of the Asia Pacific (FTAAP) as a priority within APEC.
According to His Majesty's address, he acknowledged APEC's role as a catalyst for innovation, noting both the opportunities and risks of Artificial Intelligence. His Majesty stressed the responsible use of technologies and the promotion of research and development. Additionally, His Majesty called for engaging all stakeholders, focusing on youth and MSMEs, to nurture innovation and facilitate international market access.
The meeting, held at Moscone Center in San Francisco, focused on interconnectedness and building inclusive and resilient economies. His Royal Highness Prince 'Abdul Mateen accompanied His Majesty. The session began with opening remarks from His Excellency Joseph R. Biden Jr., President of the United States and APEC Chairman for 2023, followed by remarks from Her Excellency Dina Boluarte, President of Peru and incoming Chair of the APEC AELM.
His Majesty emphasized the necessity of a rules-based multilateral trading system for building inclusive and resilient economies. The session concluded with the issuance of the APEC Leaders' 2023 Golden Gate Declaration, aiming to create a resilient and sustainable future for all.