PORT MORESBY, Papua New Guinea: Malaysia ended another successful outing at an international forum, capping off Tun Dr Mahathir Mohamad’s emotional return to Asia Pacific Economic Cooperation (Apec) duty after 15 years.
The Prime Minister renewed Malaysia’s firm stance on free and fair trade as the world’s most powerful leaders, minus US president Donald Trump and Russia’s Vladimir Putin, ended two days of the Pacific Rims nations’ annual talks here.
Dr Mahathir, who last attended the forum in 2003 in Thailand, stressed that he would continue to speak out on unfair trade practices to safeguard the interests of developing countries.
He also delved into Age of Disruption.
Speaking at the Apec CEO Summit on board a cruise ship moored at Fairfax Harbour here on Saturday, he offered some clues on how to respond to changes arising from disruptive technologies, which have seen traditional taxi drivers, among others, grossly affected by new competition from e-hailing firms.
The 93-year-old statesman was accorded a standing ovation after his 30-minute session.
Papua New Guinea (PNG) and its people were a wonderful host. But the outcome of the summit was a bit disappointing.
The summit was overshadowed by spats between superpowers China and the US as they vie for regional control.
The gathering hosted for the first time by PNG - the poorest among Apec’s 21 member economies - should have been about deepening regional economic integration and enhancing prosperity for people in the region, which makes up 60 per cent of the world’s population.
Instead, it turned into a battleground for superpowers to exert more control and influence over their less developed counterparts.
The US, represented by vice president Mike Pence, and Chinese president Xi Jinping were involved in heated debate over free trade, globalisation and “chequebook” diplomacy.
Russia, through prime minister Dmitry Medvedev, also chipped in. He echoed the bigger nations’ sentiment on anti-protectionism and argued for clear-cut and transparent rules on trade.
The war of words led to the failure of leaders to immediately come out with a formal written declaration after their meeting, the first time in Apec's history.
Nevertheless, the 21 leaders, together with corporate leaders, left the PNG capital with the initial pledge to formulate a shared vision for advancing Apec’s role as a driver of economic integration and growth.
They will also focus on bolstering the digital economy, including how Apec can enable a more open, accessible and secure online development.
PNG prime minister Peter O’ Neill said the leaders gathered in the capital had given local people hope that they can participate more economically in the vast Asia Pacific region.
Speaking at the conclusion of the summit on Sunday, Dr Mahathir said in jest that he did not know much about Apec now after missing it for the past 15 years.
Next year’s Apec summit will be held in Chile, before Malaysia hosting it in 2020.