NAY PYI TAW –Union Minister for Investment and Foreign Economic Relations U Thaung Tun, today participated in the COVID Action Platform Global Leaders Virtual Meeting facilitated by the World Economic Forum.

His Royal Highness the Prince of Wales and Mr. Klaus Schwab, Founder and Executive Chairman of the World Economic Forum used the opportunity to launch the new Great Reset Initiative.

The Initiative which involves a commitment to jointly and urgently re-building the foundations of the global economic and social system in support of a fairer, more sustainable and more resilient future. The Initiative also calls for a new social contract centred on human dignity, social justice and where societal progress does not fall behind economic development.

“In order to secure our future and to prosper, we need to evolve our economic model and put people and planet at the heart of global value creation. If there is one critical lesson to learn from this crisis, it is that we need to put nature at the heart of how we operate. We simply can’t waste more time,” said His Royal Highness the Prince of Wales.

“We only have one planet and we know that climate change could be the next global disaster with even more dramatic consequences for humankind. We have to decarbonize the economy in the short window still remaining and bring our thinking and behavior once more into harmony with nature,” said Mr. Klaus Schwab.

Commenting following the Virtual Meeting, Union Minister U Thaung Tun noted that Myanmar supported the aims which underpin the Great Reset Initiative and is committed to working with all partners – global and regional, public and private – to translate these aspirations into tangible actions at the country-level here at home in Myanmar, within our region, and further afield.

The Union Minister further stated that the Initiative is firmly in line with the aims and aspirations set forth within our own Myanmar Sustainable Development Plan, which is, in turn, aligned with the Global Sustainable Development Agenda.

The Great Reset Initiative will culminate in a unique twin summit in January 2021, convened by the World Economic Forum.