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PM Hun Sen urges continued globalisation to boost growth

Sok Chan / Khmer Times Share:
Mr Hun Sen attends the virtual World Economic Forum’s Sustainable Development Impact Summit 2020 under the theme ‘Building Forward Sustainably in Emerging Economies’. KT/Khem Sovannara

Prime Minister Hun Sen said that countries around the world have to continue the momentum of globalisation, which has significantly contributed to economic growth and created unprecedented conditions for poverty reduction and improved the livelihoods of people from all walks of life.

The statement came as Mr Hun Sen addressed the World Economic Forum’s Sustainable Development Impact Summit 2020 under the theme “Building Forward Sustainably in Emerging Economies”. “We have to ensure that our cooperative mechanisms still maintain a spirit of openness and support for the multilateral trade system, especially the acceleration of socio-economic connectivity for each country’s development agendas in a sustainable and inclusive manner,” he said.

“Without further delay, we have to start thinking strategically about the restoration and the recovery of the economy once the pandemic subsides, through the implementation of existing and newly-introduced plans and mechanisms, in a speedy and effective manner,” he added.

“Moreover, at the global level, we have to continue ensuring the sustainability of international aid, particularly financial aid, for developing countries so that they can continue to drive their reforms progressively as part of the 2030 agenda for Sustainable Development Goals,” Mr Hun Sen said.

He added that the spread of COVID-19 has increased concerns and uncertainties in regional and global socio-economic development cooperation.

Therefore, combating COVID-19 is a common cause for all, despite the fact that different countries are at different stages of the epidemic, he added.

“Impact mitigation and the stabilisation of people’s lives, production, business operations as well as investments are important tasks that each government has to strive to implement as much as possible,” he said.

“In order to achieve this goal, the Cambodian government has implemented five rounds of well-targeted and timely measures, to carefully monitor the situation, with additional measures ready if needed,” Mr Hun Sen added.

During this difficult time, in order to advance their reform agendas, developing countries need global cooperation, particularly the preservation of both bilateral and multilateral partnerships which aim to ensure an environment for development, peace and stability at regional and global levels, he said.

At the same time, the strengthening and preservation of international investment flows, tourism flows and smooth and free flows of cross-border trade – particularly the free movements of necessary goods such as food and medical supplies – are vital factors for ensuring stability, safety, social balance and the revival of supply and production chains both within each country as well as at regional and global levels, he added.

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