Duterte urges CEOs: Make growth inclusive.

DA NANG — In the world’s most dynamic region, prosperity must be shared by all, and businessmen have a role to play in realizing this, President Duterte said yesterday.

Addressing Asia-Pacific Economic Cooperation (APEC) chief executive officers, Duterte said businessmen could help make growth inclusive by allowing developing countries to have equal market access and opportunity for growth and development.

Speaking before the APEC CEO session 7 on “regional economic integration,” Duterte emphasized that in the changing economic landscape, APEC can only be relevant after 2020 if wealth is distributed by its members equitably to developing nations.

“The reality is that APEC will only be relevant if prosperity is shared by all,” Duterte said at the Ariyana Da Nang Exhibition and Convention Center.

“Inclusivity requires that the more developed economies provide greater market access to less developed ones — the same way that we encourage to micro, small and medium enterprises (MSMEs).

He also asserted that the grants and aids by developed countries are not enough.

Duterte, who has been vocal against oligarchy in the Philippines, underscored the need for APEC to enable developing countries to have “greater market access and opportunity for growth and development.”

“The essence of true cooperation is that all are partners and everyone contributes,” he said.

“Charity is not what less developed economies and small businesses need. What they need are greater market access and the opportunity to participate in growth and development,” he added.

At the end of his speech, Duterte said inclusive growth “will continue to elude us unless we adopt this mindset.”

Prior to this, the Chief Executive pushed the need to look at electronic commerce (e-commerce) platforms to realize the potential of bigger markets.