VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The Asia Pacific Economic Cooperation Forum (APEC) meeting was officially opened virtually in Malaysia today. Previously, there were several meetings and statements of APEC leaders regarding the global economic conditions due to the pandemic that has hit the world for several months. A joint statement by APEC ministers on Monday (16/11) outlined the need for free, fair and non-discriminatory trade practices to promote economic recovery from the pandemic and structural reforms to promotion of sustainable and inclusive growth. On Thursday afternoon before APEC officially opened, Chinese President Xi Xinping declared that the future of the world economy would be in China. However, the Chinese leader did not discuss too deeply the conditions of his country's continuing trade war with the USA. Meanwhile, Indonesian President Joko Widodo introduced the Omnibus Law as a legal product that will facilitate the investment process in Indonesia.

Four days ago at the ASEAN Summit Meeting, the Regional Comprehensive Economic Partnership (RCEP) was signed as a further reaction to the Trans-Pacific Partnership bloc that former US president Barack Obama had pushed to strengthen the regional economy.

The world is now looking forward to whether this virtual 2020 APEC Meeting would produce meaningful steps to improve the world's economic conditions shaken by the Covid-19 pandemic.