Save the Biggest to the Last — The APEC Marketplace

By Dato’ Dr Hasan Mad
Secretary General, MPM | CEO, The Global Academy @ MPM
5th July 2025

Over the past few weeks, I’ve shared brief snapshots of major global economic blocs — the Commonwealth, RCEP, and the OIC — each with their own distinctive strength: population size, combined GDP, or member representation.

But today, allow me to share the most expansive of them all — the Asia-Pacific Economic Cooperation (APEC). In terms of population, GDP, and its role in shaping the economic policies of the 21st century, APEC stands as the most powerful marketplace in the world today.

Why APEC is the Giant Among Giants

Let’s take a look at the numbers:

Economic Bloc	Member States	Combined Population	Combined GDP (USD)	Avg. GDP per Capita
APEC	21	3.0 billion	$56.9 trillion	$19,000
RCEP	15	2.3 billion	$29.7 trillion	TBC
OIC	57	2.0 billion	$27.95 trillion	$24,187
Commonwealth	56	2.5 billion	$10.92 trillion	$3,532

• Largest economy within APEC: United States with a staggering GDP of $27.7 trillion
• Best performing economy (per capita GDP): Singapore at $89,370

Clearly, APEC is not just big — it is economically dominant. With over 3.0 billion people and a GDP surpassing $56 trillion, this economic grouping holds significant sway over global trade, supply chains, digital economy norms, and innovation ecosystems.

Malaysia’s Voice in APEC: A Legacy of Leadership

Within APEC, Malaysia has historically had a strong voice — one that cuts through rhetoric and brings sharp focus to key issues.

• Tun Dr Mahathir Mohamad, Malaysia’s former Prime Minister, is widely acknowledged for his fearless and principled stance on global economic injustice.
• Tan Sri Rafidah Aziz, fondly referred to as the “Iron Lady,” was known for her sharp economic insight and formidable presence at international forums, including APEC.

Their contributions symbolize what strong Malay leadership can represent on the global economic stage. This legacy must not fade. It must be revived, continued, and amplified by today’s generation of Malay business leaders.

Two Key Avenues to Tap into the APEC Advantage

To position ourselves strategically, the Malay Business Community must internalize two critical aspects of APEC:

1. Business Facilitation and the FTAAP

APEC has long led reforms that reduce the cost of doing business across its region. Key initiatives include:

• Trade Facilitation Action Plan (TFAPI): Credited with reducing transactional costs and improving transparency.
• Free Trade Area of the Asia-Pacific (FTAAP): A long-term strategic goal, which, once realized, will eliminate barriers to trade within APEC.

For the Malay business community, this means greater ease in exporting, access to supply chains, and lower entry barriers to international markets — but only if we prepare ourselves adequately.

2. The APEC Study Centre Consortium (ASCC)

Since 1993, APEC has supported the APEC Study Centres (ASCs) — a network of 70+ universities and research institutions conducting independent studies to support APEC’s goals.

But the question remains:

• Where is Malaysia’s participation in this ecosystem?
• Are institutions like MIER actively engaged?
• Are these studies being shared, translated, and leveraged by the local business community — especially Malay entrepreneurs?

We must advocate for a tighter link between our research institutions and our business communities, particularly those affiliated with MPM.

Call to Action: Three Strategic Priorities for MPM & Malay Businesses

To ensure the Malay Business Community captures its rightful place in the APEC economic network, I urge all associated with MPM and beyond to consider the following immediate actions:

1. Explore and Translate Research Outputs from the APEC Study Centres
   • Identify actionable insights relevant to Malaysian businesses.
   • Host knowledge-sharing forums for MPM members.
2. Build and Elevate Trade Culture within the Community
   • Train, mentor, and support traders and exporters.
   • Integrate digital platforms and APEC standards into local business models.
3. Expand the Malay Global Diaspora Business Network
   • Connect entrepreneurs, investors, and researchers globally.
   • Develop platforms for collaborative investment, supply chain access, and co-branding across APEC.

Final Word: Rekindling the Voices of Leadership

In this new APEC era, we need new voices — strong, strategic, and well-informed. Voices like Tun Dr Mahathir and Tan Sri Rafidah Aziz. Voices that command attention, influence policy, and shape the economic future of the region.

Let’s ensure that Malay entrepreneurs and professionals are not just participants but leading contributors in this powerful APEC marketplace.

Let us rise to the challenge. Let us make our mark in APEC.