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PM Lee urges APEC to help firms embrace digital trade

Bloomberg
Bloomberg11/12/2021 04:25 PM GMT+08  • 2 min read
PM Lee urges APEC to help firms embrace digital trade
The PM warned that smaller companies in the 21-member grouping risk falling behind the rest of the world.
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Singaporean Prime Minister Lee Hsien Loong said the Asia-Pacific Economic Cooperation bloc should extend its scope to cover the digital economy, warning that smaller companies in the 21-member grouping risk falling behind the rest of the world.

Speaking Thursday during the APEC CEO Summit virtually hosted by New Zealand, Lee said that countries need to do more to invest in digital frameworks while also identifying a common set of related development goals as the basis for global cooperation.

“APEC can play a big role here,” he said, warning that most small and medium-sized enterprises “are not as digitally prepared and risk being left behind. APEC economies must help SMEs and their workers make the digital transition.”

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