WEF ASEAN A Platform For Ideas, Policies To Revive Global Economy

KUALA LUMPUR, May 26 (Bernama) -- The World Economic (WEF) Forum ASEAN 2016 next week, which will bring together several heads of state and captains of industry, is seen as a perfect platform for the birth of new ideas and policies that could help restore the global economic vibrance. On the backdrop of global economic scenario that is trending lower, WEF Head of Asia Pacific, Justin Wood, said the forum hoped to discuss policies and ideas that could restore the global economy. Titled "Shaping the ASEAN Agenda for Inclusion and Growth," the two-day forum starting June 1, 2016, will see a total of 587 participations including heads of state and captains of industry mainly from Malaysia as well as the region. Besides China and India, ASEAN stands out in being an extremely high-growth region, and there are very few parts of the global economy that are experiencing such high growth. Hence, the perfect place to deliberate on those issues was especially in Malaysia amid its commitment to ASEAN, he said at a press conference with Minister of International Trade and Industry, Mustapa Mohamed, on the forum here, Thursday. "This is the third time that WEF is hosting its regional forum in Malaysia and one of the many reasons (for choosing it again this year) is due to the commitment Malaysia has displayed towards ASEAN's integration intitiatives," he said. Elaborating on the forum, he said:"We will also talk on human capital development amid the fourth industrial revolution, the need for infrastructure, financial market development and also regional trade and integration." The focus on driving the growth back up was not only in terms of quantity but also quality, and more importantly, how inclusive it would be, Wood stressed. Besides the various level of discussions and deliberation on issues across the board, he said several reports would also be revealed during the forum. "There is one report specifically on the inclusive growth in ASEAN, one on future of human capital development as well as one on aviation," he said. Meanwhile, Mustapa said Malaysia was happy to co-host the forum as it would also help promote Malaysia and ASEAN's presence on the global stage. "It is my hope that hosting this year's WEF on ASEAN will provide the catalyst to generate new ideas that will help promote deeper economic integration within the region," said the Minister. He said Malaysia and ASEAN needed to continue pushing the envelope and promote a broader vision of a more inclusive ASEAN. Mustapa also said that the ASEAN members would also discuss strengthening the regional structures such as the ASEAN Economic Community frameworks for the implementation of economic and financial alignment at the forum. -- BERNAMA