APEC Economies Need To Strengthen Women’s Economic Empowerment Post-Pandemic

KUALA LUMPUR, Sept 30 (Bernama) -- The Asia-Pacific Economic Cooperation (APEC) economies are being urged to pivot their priorities to urgently strengthening the socioeconomic status and well-being of all women in the region post-COVID-19 pandemic, said Women, Family and Community Development Minister Rina Harun. Speaking at the 2020 Virtual High Level Policy Dialogue on Women and the Economy, she said the COVID-19 crisis affected men and women in different ways, where women were harder hit by the compounded economic impacts as generally, they are earning and saving less than men. “Women’s participation is still lacking in digital economy, leadership roles in various levels of decision-making processes, as well as in science, technology, engineering and mathematics. “Hence, I strongly urge that APEC strengthens public-private partnerships and engagements with industries, with the support from the APEC Business Advisory Council (ABAC) to work towards this cause,” she said. ABAC is APEC’s private sector arm. Rina said according to the Beijing+25 Global Data Analysis on Women’s Economic and Productive Lives, of those women who are employed, 58 per cent or 740 million are in the informal economy. Additionally, women aged 25 to 34 were 25 per cent more likely than men to live in extreme poverty, she said. Globally, according to the World Economic Forum, the majority of those on the front lines of the pandemic are women, because women make up 70 per cent of all health and social services staff, she added. -- BERNAMA