Anti-globalisation movement dominates APEC summit
LIMA, Peru: The anti-globalisation movement dominated the first day of talks at the AsiaPacific Economic Cooperation (APEC) Trade Ministers Conference here Thursday.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the trade ministers spoke on the anti-globalisation scenario.
“As trade ministers, we know how big is the role played by free trade in the global economy in spurring economic growth.
So, the matter (anti-globalisation movement) needed to be given attention,” he said.
Mustapa, who is representing Malaysia, was speaking to the Malaysian media covering the conference and Prime Minister Datuk Seri Najib Tun Razak’s visit to Peru.
The new phenomenon associated with the anti-globalisation movement is the manifestation of Brexit, followed by Donald Trump’s victory in the US presidential election, he said.
While admitting that there are weaknesses of globalisation, he said, “Nothing is perfect.”
Citing an example, he said small and medium enterprises (SMEs) were now able to tap into the global network as a result of PETALING JAYA: The Special Task Force to Facilitate Business (Pemudah) aims to attract 70 per cent of small and medium enterprises (SMEs) to use payroll software by 2019.
Pemudah member Datuk Chua Tia Guan said only 50 per cent of SMEs currently use payroll software.
“However, the number is increasing with the convergence of information technology,” he told reporters at Pemudah’s Focus Group on Paying Taxes (FGPT) Open Day, a collaboration with Malaysia Productivity Corp yesterday.
He said many people have the globalisation.
He said hence, APEC member states should implement more inclusive global policies without misperception that payroll software costs a lot.
“It only costs between RM1,000 to RM3,000 and would be beneficial as it speeds up processes,” he said, adding that payroll software enables employers to efficiently organise their employees’ payment and tax filings.
“With a one-off investment, they can actually reduce their mistakes and time for doing the preparation of the (tax) returns, from 80 hours previously to less than 50 hours per year,” he said.
Chua said converting from manual to computerised filing would enable Malaysia to improve its marginalising any segment of the society.
The APEC Secretariat should also have a communication plan to disseminate the real situation of globalisation, especially its benefits, he said.
“There should be a balance approach (in the communication plan).
"Globalisation has merits and demerits.
“It (globalisation) has succeeded in reducing poverty and taken SMEs to the international arena,” he said, adding that Peru had managed to reduced its poverty level as a result of free trade.
APEC, formed in 1989, is a forum for 21 Pacific Rim countries seeking to promote free trade and economic cooperation, and achieve prosperity among member states.
It is made up of Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Taiwan, Thailand, the US, and Vietnam. — Bernama
As trade ministers, we know how big is the role played by free trade in the global economy in spurring economic growth. Datuk Seri Mustapa Mohamed, International Trade and Industry Minister Pemudah aims to get 70 pct of SMEs to use payrol software by 2019
current 23rd position in the World Bank’s ‘Doing Business’ report.
He noted that SMEs play a major role as they represent 97 per cent of business establishments in the country.
At the event, speakers from the Inland Revenue Board, RHB, Social Security Organisation, Human Resources Development Fund and SME Corp shared their experiences on the importance of a payroll system for companies.
The FGPT was established to simplify the tax system in Malaysia, specifically to reduce the number of payments and the time taken to make payments. — Bernama