Tuesday, February 18

US-China phase 1 trade deal to improve global trade, investment

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Tan Sri Dr Rebecca Fatima Sta Maria

KUALA LUMPUR: Global trade and investment climate will likely be positive moving forward, as a major uncertainty has been removed following the signing of the United States (US)-China phase one trade deal.

Asia-Pacific Economic Cooperation (APEC) Secretariat executive director Tan Sri Dr Rebecca Fatima Sta Maria said the prolonged trade tensions have undermined trade, investment and output.

The US and China have been involved in the trade war since 2018, bringing the rest of the world down with them.

“We are glad to hear the encouraging news coming from China and the US today, and APEC will continue to provide the avenue for members to work closely together to advance trade and investment in the region,” she said in her Twitter account.

Malaysia has started its year-long hosting of the APEC, with media registration now open for the First APEC Senior Officials’ Meeting (SOM1) and related meetings that would take place in Putrajaya from Feb 3-22, 2020.

In a statement issued on Jan 13, APEC Secretariat said close to 1,500 policymakers, business leaders and academics from 21 APEC member economies would gather to deliberate and advance a policy agenda for the region’s most pressing issues in the digital era, including multilateralism, trade and investment, human capital development and sustainability.

It said dozens of fora would be held, guided by the theme “Optimising Human Potential Towards a Future of Shared Prosperity” and focusing on the year’s priorities: improving the narrative of trade and investment; inclusive economic participation through digital economy and technology and driving innovative sustainability. — Bernama