PORT MORESBY, Papua New Guinea: Tun Dr Mahathir Mohamad has asked the 21 Pacific Rim nations to adjust to changes arising from distruptive technology if they want their Asia Pacific Economic Cooperation (Apec) pact to remain relevant.
The Prime Minister said the multilateral economic bloc had gone too far in free trade and economic integration to let it go under in the age of disruption.
“What we need to do is to adjust to it and from there build new partnerships and agreements to suit the changes,” Dr Mahathir said at the Apec CEO Summit on a cruise ship here this morning to kick off the first day of his two-day Apec sojourn in Papua New Guinea.
“What is worrying is not the strategy but the speed it is required to be implemented in order to be effective. It is a new frontier, mostly still unchartered. Apec too will have to deal with this disruption, failing which it too will become irrelevant,” he added.
Dr Mahathir reminded Apec member countries and other trade organisations that in the age of disruption, a fairer and more genuine cooperation between the developed and developing nations can help member states to deal with the disruption.
“In a speech I delivered in the Malaysian Parliament last month, I mentioned that the government will focus on development that is inclusive and equitable to achieve the goals of a united country.
“We want to ensure that every citizen in Malaysia enjoys shared prosperity.”
He called on Apec to also promote the concept of shared prosperity among its member states.
“I believe in the adage, ‘Prosper Thy Neighbour’ and not ‘Beggar Thy Neighbour’. Everyone gains from the former, while only one side gains from the latter.
“Only with this win-win concept among Apec members can we chart a common and an inclusive future in the Age of Disruption,” said Dr Mahathir, who received a standing ovation after his 30-minute session.