RIO DE JANEIRO — Countries can fight poverty by sustaining economic growth through open trade and investments, said Prime Minister Lawrence Wong on Nov 18.
Growth and trade remain one of the best ways to create jobs, he told Group of 20 (G-20) leaders at a discussion on poverty and hunger at the G-20 Summit in Rio de Janeiro, Brazil.
"Jobs, in turn, are the most direct way to reduce poverty," he said, adding that this is because they provide a path to dignity, stability and self-reliance.
This is why efforts to reform and strengthen the World Trade Organisation are so important, PM Wong said.
Brazilian President Luiz Inacio Lula da Silva launched a global alliance against hunger and poverty on day one of the G-20 Summit. More than 80 countries, including Singapore, have agreed to back it.
In his speech, PM Wong said the most direct way to tackle hunger and poverty is to stop conflicts and wars, and provide assistance to conflict zones where needs are greatest.
Singapore is doing its part where possible, including providing several rounds of humanitarian aid for people in Gaza, he added.
While holding up the benefits of trade and economic growth, PM Wong said growth and job creation are not enough on their own.
"What is important is also to ensure that our people are equipped with skills to take on new job opportunities; and that is why governments must continue to invest in human capital," he said.
While this has traditionally been done through education and schools, countries will increasingly have to do more, he added. This includes in areas such as technical and vocational education, as well as skills training for adult workers.
PM Wong said an infrastructure of lifelong skills training and upgrading is needed to train people for new industries and match them to jobs being created.
This is Singapore's approach, and how the country has been able to keep its unemployment rate below three per cent for a long time, he added.
"We are happy to share our experience," PM Wong said, adding that Singapore is happy to support the World Bank's High-Level Advisory Council on Jobs, which focuses on Africa and the Global South.
President Tharman Shanmugaratnam co-chairs the council.
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This article was first published in The Straits Times. Permission required for reproduction.
