BALI: The 21st Apec Economic Leaders Meeting has been successful in strengthening the resolve of the leaders to increase trade and investment and liberalise tariffs and increase connectivity, said Datuk Seri Najib Tun Razak.
The Prime Minister said Apec members also agreed to commit to lower tariffs and increase the ease of doing business with each other.
He said seven strategic points that was included in the 2013 Bali Declaration had been agreed on.
“We agreed to improve connectivity within Apec, involving institutional and people-to-people that can help to reduce the cost of doing business.
“Apec will facilitate a sustainable and balanced growth among member countries to enhance the participation of small, medium and micro-sized enterprises, youth and women who are involved in entrepreneurship,” he told the Malaysian media on the final day of Apec talks Tuesday.
Najib said the leaders also discussed how to strengthen food, energy and water security.
He said he also raised issues affecting Malaysia and Indonesia’s palm oil industry, including unsatisfactory yields and the increased competition from the soya bean industry.
“Both countries must improve on their R&D efforts and innovation or we will face competitive pressure,” he added.
Najib said a US company will be investing in lobster farming in Sabah using the latest technology.
“We will not only export lobster to the United States, but provide jobs for the locals,” he added.
Najib said he met Indonesian president Susilo Bambang Yudhoyono and discussed about the palm oil industry and labour, including the hiring of maids.
“Both of us agreed to hold annual consultations from December on this,” he added.
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