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13 December 2010 - APEC highlights priorities for 2011
14 November 2010 - APEC Leaders release declaration, adopt new vision for regional growth
11 November 2010 - BUSINESS ORGANISATIONS PROMOTE TPP ON MARGINS OF APEC SUMMIT
11 November 2010 - APEC Ministers renew commitment to resist protectionism policy
11 November 2010 - APEC releases 2010 progress reports on trade, economic policy
11 November 2010 - Asia-Pacific business leaders express support for Russia to join WTO
10 November 2010 - ABAC TO PRESS LEADERS FOR DECISION ON FTAAP
9 November 2010 - APEC boosting growth for the region’s future generations
8 November 2010 - APEC Senior Officials finalize key initiatives for Leaders
6 November 2010 - APEC Finance Ministers contribute priorities to secure future growth
31 October 2010 - APEC Ministers work to boost broadband access
29 October 2010 - APEC Ministers to tackle new socio-economic growth
22 October 2010 - EFFICIENT CORENET SYSTEM IS KEY LEARNING POINT AT APEC WORKSHOP
17 October 2010 - APEC issues declaration on food security
14 October 2010 - APEC Ministers to hold first meet on food security
12 October 2010 - APEC Ministers release declaration on healthy oceans, sustainable fisheries
management and food security
12 October 2010 - APEC Ministers move to protect, conserve oceans; focus on food security
8 October 2010 - APEC Ministers address sustainable fishing
3 October 2010 - APEC Ministers target growth of SMEs
26 September 2010 - APEC Senior Officials assess progress ahead of Leaders' meeting
23 September 2010 - APEC Ministers commit to strengthening tourism
22 September 2010 - APEC ministers urge sustainable growth of tourism
22 September 2010 - Private sector presses for innovation to drive APEC growth strategy
22 September 2010 - ABAC Encourages APEC SME Ministers to Improve SMME Access to Fundamental
Business Resources
20 September 2010 - APEC acts on forging an interconnected Asia Pacific
17 September 2010 - APEC releases Joint Ministerial Statement on Human Resources Development
16 September 2010 - President Hu announces project to improve employment and social safety nets
in the APEC region
16 September 2010 - APEC Tourism Ministers to meet Sept 22-23
9 September 2010 - APEC Ministers to meet in Beijing
27 August 2010 - ASIA-PACIFIC Business Leaders Reiterate Call For APEC To Get FTAAP Process Underway
27 August 2010 - ABAC urges continuous dialogue on financial sector reforms
8 August 2010 - APEC formulates new Growth Strategy for region
16 July 2010 - APEC Launches New Cross-border Data Privacy Initiative
12 July 2010 - ABAC's Protectionism Monitoring Exercise - Request for Feedback
1 July 2010 - APEC Launches New Statistical Database
1 July 2010 - Establishment of APEC SME Crisis Management Centre
19 June 2010 - APEC Energy Ministers give instructions on energy security and efficiency
11 June 2010 - Stimulating employment by SMEs
6 June 2010 - APEC Trade Ministers issue Statements on concluding Doha and securing economic growth
6 June 2010 - APEC helps business take advantage of FTAs
3 June 2010 - Seamless transport could increase trade by billions
3 June 2010 - APEC Trade Ministers review progress on free trade
1 June 2010 - Businesses have 5 recommendations for APEC Trade Ministers
29 May 2010 - Russia joins the APEC Business Travel Card Scheme
27 May 2010 - Businesses call for measures to address energy security in APEC
21 May 2010 - Business Seeks New Vision For Economic Integration In APEC
6 May 2010 - Economic growth, sustainability on-going priorities for Tourism Working Group
5 May 2010 - Solicitation of Interest to Participate in Pilot APEC Tariff Database Project
20 April 2010 - Launch of APEC CEO Summit 2009 Special Report
24 March 2010 - Survey on Supply Chain Chokepoints in the Asia Pacific Region
3 March 2010 - Small reforms make big sense
23 February 2010 - The first APEC Senior Officials' Meeting (SOM1) in Hiroshima, Japan
19 February 2010 - Market integration key to recovery
12 February 2010 - APEC Business Leaders Focus On Solidifying Long Term Growth
5 January 2010 - Survey on Trade Restrictive Measures Within APEC
13 December 2010
APEC highlights priorities for 2011
Honolulu, Hawaii – Aiming to increase economic engagement in the Asia-Pacific region, the United States highlighted its priorities when it hosts APEC in 2011.
The announcement was made during an informal preparatory meeting of APEC Senior Officials in Honolulu, where President Obama will host APEC leaders in November 2011.
The United States emphasized the importance of accelerating growth and creating jobs across the region by addressing specific concerns for improving the trade and investment environment.
As APEC host in 2011, the United States will prioritize concrete initiatives that build a “seamless regional economy” by achieving outcomes in specific priority areas, including: (1) strengthening regional economic integration and expanding trade; (2) promoting green growth; and (3) expanding regulatory cooperation and advancing regulatory convergence.
At the meeting convened at the historic East-West Center in Honolulu, US Senior Official Kurt Tong and his team proposed several policy areas for APEC officials to focus on in 2011. In addition to discussing how to organize the meetings for results-oriented outcomes, the United States explained that it will work with its partners to ensure the organization and its leaders remain relevant and accountable.
“In 2011, APEC is tasked with strengthening economic integration by working to define, shape, and address the next generation trade and investment issues that should be included in 21st century trade agreements in the region, including a Free Trade Area of the Asia-Pacific (FTAAP),” said Tong. “This will contribute to eliminating non-tariff barriers to trade and preventing new barriers from emerging.” The U.S. official also suggested that “APEC should adopt policies and regulations that foster innovation and promote the use of information and communication technologies, and advance structural reform objectives in APEC economies.”
“APEC has pledged to work to promote green growth and help our economies make a successful transition to a clean energy future. The United States aims to advance APEC’s work to address barriers to trade in environmental goods, including non-tariff measures related to advanced technology demonstration products, such as vehicles, as well as remanufactured and recycled goods,” Tong added.
“Addressing barriers related to technical regulations, standards and conformity assessment requirements is essential to lowering the costs of doing business and strengthening regional economic integration,” Tong concluded.
The United States also announced that Michael Froman, President Obama’s deputy national security adviser for international economic affairs, will chair the formal APEC senior officials’ meetings during the U.S. host year.
APEC officials will meet throughout the year in the United States. They will converge in Washington, D.C. for their first meeting in March and again in Big Sky, Montana in June. Their final preparatory meeting will take place in San Francisco in September. Finally, the APEC Economic Leaders’ Meeting will be held in Honolulu in November 2011.
For more information please contact:
Trudy Harris at th@apec.org or +65 9898 3710 (in Singapore)
Michael Chapnick at mc@apec.org or (+65) 9647 4847 (in Honolulu)
14 November 2010
APEC Leaders release declaration, adopt new vision for regional growth
Issued by the APEC Secretariat
Yokohama, Japan - APEC Leaders gathered under the theme “Change and Action” to “articulate our vision of further building and integrating the Asia-Pacific region in the 21st Century, and paths to realize that vision.”
At the end of their two-day meeting, APEC Leaders adopted a declaration as well as a Leaders’ Statement on 2010 Bogor Goals Assessment, the Report on APEC’s 2010 Economies’ Progress Towards the Bogor Goals, the APEC Leaders’ Growth Strategy and Pathways to FTAAP.
Significant progress towards the Bogor Goals
“Through our individual and collective efforts toward achieving the Bogor Goals, the Asia-Pacific region has achieved substantial reductions in barriers to trade and investment. These efforts have led to increased trade and investment flows, sustained economic growth, and a vast improvement in the welfare of people in the region.”
“We are confident that APEC is well on track toward achieving the goal of free and open trade and investment among its economies.”
The assessment was conducted on progress towards achieving the Bogor Goals by the five industrialized economies by 2010 as well as eight developing economies, who volunteered ahead of 2020.
“We endorse the Report on APEC’s 2010 Economies’ Progress Towards the Bogor Goals and conclude that while more work remains to be done, these 13 economies have made significant progress toward achieving the Bogor Goals.”
Path toward a robust economy
“We set forth the APEC Leaders’ Growth Strategy as APEC’s first substantial effort to provide a comprehensive long-term framework for promoting high-quality growth in the region.”
“We will implement the Growth Strategy out to 2015, focusing on the five desired attributes of balanced, inclusive, sustainable, innovative, and secure growth.
“Our Growth Strategy includes an Action Plan that encompasses work elements on structural reform; human resource and entrepreneurship development; green growth; a knowledge-based economy; and human security.”
“The Action Plan will be supported and promoted through specific work programs that draw in all aspects of APEC’s work, including sectoral Ministerial meetings, committees, APEC sub-fora, extensive regional networks of experts, and APEC’s close cooperation with the business community.”
“We will review our progress toward implementing the Growth Strategy in 2015.”
Accelerating regional economic integration
“We will take concrete steps toward realization of a Free Trade Area of the Asia-Pacific (FTAAP), which is a major instrument to further APEC’s regional economic integration agenda. An FTAAP should be pursued as a comprehensive free trade agreement by developing and building on ongoing regional undertakings, such as the ASEAN+3, ASEAN+6, and the Trans Pacific Partnership among others.”
“To this end, APEC will make an important and meaningful contribution as an incubator of an FTAAP by providing leadership and intellectual input into the process of its development, and by playing a critical role in defining, shaping, and addressing the “next generation” trade and investment issues that FTAAP should contain.”
“APEC should contribute to the pursuit of an FTAAP by continuing and further developing its work on sectoral initiatives in such areas as investment; services; e-commerce, rules of origin; standards and conformance; trade facilitation; and environmental goods and services.”
Balanced growth
“We must take steps to build a foundation for stronger, more sustainable, and more balanced growth in the future.”
“We note the importance of strengthening multilateral cooperation to promote external sustainability and pursuing the full range of policies conducive to reducing excessive imbalances and maintaining current account imbalances at sustainable levels.”
“We will move toward more market-determined exchange rate systems and enhance exchange rate flexibility to reflect underlying economic fundamentals and will refrain from competitive devaluation of currencies. Advanced economies, including those with reserve currencies, will be vigilant against excess volatility and disorderly movements in exchange rates. These actions will help mitigate the risk of excessive volatility in capital flows facing some emerging market economies.”
Supporting the multilateral trading system
“We should continue to take steps to build a stronger and more resilient global financial system. We remain committed to maintaining open markets and fighting protectionism. We reaffirm our common resolve to support the recovery in a collaborative and coordinated way.”
“We reaffirm our strong commitment to bring the Doha Development Agenda to a prompt and successful conclusion. Bearing in mind that 2011 will be a critically important “window of opportunity,” we direct our Ministers to empower our representatives to engage in comprehensive negotiations with a sense of urgency in the end game, built on the progress achieved, including with regard to modalities, consistent with the Doha mandate.”
“We affirm our commitment to win domestic support in our respective systems for a strong agreement.”
Resisting protectionism
“In our continued efforts to resist protectionism, we agree to extend our commitment on standstill made in 2008 to the end of 2013 to refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organisation inconsistent measures in all areas, including those that stimulate exports.”
For more information, contact:
Trudy Harris at th@apec.org or (+81) (0)80 3417 3130 (in Japan)
Michael Chapnick at mc@apec.org or (+81) (0)80 40841709 (in Japan)
11 November 2010
BUSINESS ORGANISATIONS PROMOTE TPP ON MARGINS OF APEC SUMMIT
Three business organizations - the NZ US Council, Singapore Business Federation and the US APEC Business Coalition - have joined forces in the margins of this week’s APEC Leaders’ Week and organized a well-attended seminar to promote the Trans Pacific Partnership (TPP) trade negotiations.
“Our three organizations strongly support an ambitious outcome from the TPP negotiations, one that can provide a new framework for expanding trade and investment and be a means by which the Free Trade Area of the Asia Pacific (FTAAP) can be brought into being” said Stephen Jacobi, Executive Director of the NZ US Council.
The seminar took place in Yokohama on November 11. Entitled “Walking the Talk – TPP as a pathway to the Free Trade Area of the Asia Pacific”, the seminar was attended by over 80 business leaders and officials attending the APEC meetings.
“We see a major opportunity for TPP to reduce business costs and increase the ease of doing business in the region. Unlocking new opportunities and making business more profitable is the key to sustainable economic growth and accelerating the pace of economic recovery both for the region and the world as a whole”, said Mr Teng Theng Dar, Chief Executive Officer of the Singapore Business Federation.
The seminar was chaired by Professor Shujiro Urata, of Waseda University, and featured addresses by the Trade Ministers of New Zealand and Singapore and the US Deputy Trade Representative, as well as discussions among business leaders on new business issues that the organizers believe should be addressed in TPP.
“We welcome today’s discussion on including horizontal issues such regulatory coherence and supply chain management in the TPP negotiations. A high quality TPP agreement will bring positive improvements to the behind the border issues affecting the way business is being done in the region today”, said Catherine Mellor, Associate Director, Southeast Asia, U.S. Chamber of Commerce.
The Trans Pacific Strategic Economic Partnership is an existing free trade agreement linking Brunei, Chile, New Zealand and Singapore. They have been joined by Australia, Peru, the United States and Viet Nam in an initiative to expand the membership and coverage of the agreement. Malaysia was confirmed in Yokohama as the ninth negotiating party and other APEC member economies are showing interest.
“We welcome new partners who can ascribe to the concept of an ambitious outcome from the negotiations. In the year we mark the first deadline for APEC’s Bogor goals for free trade and investment between APEC’s industrialized economies, the time has surely come for a high quality trade agreement linking both sides of the Pacific” concluded Mr Jacobi.
The fourth round of negotiations for an expanded TPP will be held in Auckland, New Zealand, during the week of 6 December.
For further information
Stephen Jacobi, NZ US Council + 64 294 725 502
Martin Yuoon, Singapore Business Federation + 65 9787 1170
Catherine Mellor, US Chamber + 1 202 631 9952
Note to editors: a copy of the seminar programme is attached
About the NZUS Council – www.nzuscouncil.com
The NZ US Council is a non partisan body established to promote New Zealand’s broader relationship with the United States. Working with other organisations the Council takes the lead in New Zealand’s business advocacy for the Trans Pacific Partnership.
About the Singapore Business Federation
As the apex business chamber, the Singapore Business Federation (SBF) champions the interests of the business community in Singapore, in trade, investment and industrial relations. Nationally, SBF acts as the bridge between the government and businesses in Singapore to create a conducive business environment. Internationally, SBF represents the business community in bilateral, regional and multilateral fora for the purpose of trade expansion and business networking. For more information, please visit our website: www.sbf.org.sg
About the US APEC Business Coalition
The U.S.-APEC Business Coalition was formed to coordinate U.S. business input and participation at the official APEC Leaders Meetings and APEC CEO Summit. The Coalition brings together the leading U.S. business associations active on APEC and Asia-Pacific business affairs in support of U.S. business goals and priorities in the APEC process.
11 November 2010
APEC Ministers renew commitment to resist protectionism
Issued by the APEC Ministerial Meeting
Yokohama, Japan, 11 November, 2010 - APEC Trade and Foreign Ministers on Thursday recommended to Leaders to extend their commitment to a standstill on new trade and investment barriers until the end of 2013.
This, along with other commitments, are included in two statements, joint ministerial statement and a separate statement on advancing the World Trade Organization’s Doha Development Agenda (DDA). They were adopted by Ministers from APEC’s 21 member economies at the conclusion of their annual meeting held this year in Yokohama, Japan.
“Open markets are vital for growth and job creation, enabling strong and sustainable growth in this region,” the DDA statement said.
“While world economy is on its way to recovery; however, there still remains a possibility of increasing protectionist measures in the future.”
Ministers “agreed to recommend to our leaders to re-extend their commitment on standstill made in 2008, to refrain from raising new barriers to investment or to trade in goods and services imposing new export restrictions, or implementing WTO-inconsistent measures in all areas, including those that stimulate exports, until the end of 2013.”
Leaders meeting in Lima in 2008 during the global financial crisis committed to refraining from raising new barriers to investments or to trade in goods and services, and recommitted again last year when they met in Singapore. Ministers also meeting in 2009 made the same commitment, to the end of 2010, “and beyond if necessary.”
The 2010 statement also urged a successful conclusion to the WTO’s Doha round of trade negotiations and stressed support for the multilateral trading system.
“A strong multilateral trading system is an essential source of economic growth, development, and stability. An ambitious and balanced conclusion of the DDA will provide a much-needed stimulus for the global economy,” it said.
“The delay in concluding the DDA negotiations is therefore a source of continuing concern. In this regard, we strongly reiterated the importance of translating our political commitment into concrete actions toward a final conclusion, delivering meaningful new trade opportunities in all areas as well as substantial reductions in trade distortions in light of the development dimension as mandated.”
In the joint ministerial statement, Ministers acknowledged that they were meeting two years after the global financial crisis, and although the APEC region has been leading global economic growth, the crisis is not yet over.
The joint statement said economies now face challenges, in particular, “of addressing volatility, creating employment and reconsolidating finance, and continuing to keep a balance between recovery and the exit strategies of fiscal and monetary policies.”
Ministers also endorsed a report on the assessment of economies’ progress towards the self-imposed Bogor Goals of free and open trade and investment. The report on the progress of 13 APEC economies will be delivered to APEC Leaders for their consideration.
Ministers also submitted APEC’s new growth strategy to Leaders. Acknowledging that recovery from the global slowdown is still fragile and uneven, Ministers said the strategy is a long-term and comprehensive plan that aims to achieve balanced, inclusive, sustainable, innovative and secure growth throughout the region.
“In the aftermath of the global financial crisis, the global economic recovery remains weak. We believe it is time for us to share a growth strategy to sustain recovery and to lay the foundation for our future prosperity. APEC, as the world’s leading growth center, is in a unique position to carry out such a task,” the joint statement said.
An action plan to implement the strategy is also being drafted with a mechanism to review its progress, the statement said. Ministers also endorsed an extended strategy on structural reform, called “the APEC New Strategy for Structural Reform,” acknowledging that this strategy will contribute to balanced and inclusive growth.
Ministers underlined the importance of APEC’s work on strengthening regional economic integration (REI) –- including exploring possible pathways to a Free Trade Area of the Asia-Pacific (FTAAP) -- and affirmed that taking concrete steps towards realizing an FTAAP is an important part of the REI agenda.
Ministers also welcomed APEC initiatives in specific sectors including enhancing regional food security and energy security, empowering women, development of human resources, development of tourism, supporting small and medium businesses, protecting and managing marine resources and development of information and communication technology.
For more information, contact:
Trudy Harris at th@apec.org or (+81) (0)80 3417 3130
Michael Chapnick at mc@apec.org or (+81) (0)80 40841709
11 November 2010
APEC releases 2010 progress reports on trade, economic policy
Issued by the APEC Secretariat
Yokohama, Japan - APEC’s high-level committees released their annual reports on Thursday outlining their work throughout 2010, including on corporate governance and regional economic integration.
The reports from the three committees are now available for download on the APEC website after they were endorsed by Foreign and Trade Ministers at their annual meeting in Yokohama, Japan. Copies of the Economic Committee report are also available from the documentation desk at the International Media Centre.
In the EC’s annual economic policy report, the group has focused on a key area of structural reform, corporate governance, considered critical to the integrity of corporations, financial institutions and markets. A reputation for reliable corporate governance is also a prerequisite for attracting foreign investment.
The EC report said APEC economies are making progress on strengthening corporate governance by protecting shareholders' rights, making boards of directors more effective and improving the enforcement of corporate governance rules.
Progress and challenges reported among APEC economies include:
Some economies have developed voluntary guidelines or codes of corporate governance, and companies are required to explain their degree of compliance with these guidelines or codes
Economies with a high concentration of large family-owned companies reported many issues related to corporate governance, including nonprofessional directors on boards
More than half of economies report having a directors' institute or association that promotes professional development through training
Ministers also endorsed a separate report from the EC that takes stock of progress in implementing the APEC agenda on structural reform as well as progress made by individual economies in pursuing structural reform. The report is also available for download on the APEC website.
The Committee on Trade and Investment’s (CTI) report to ministers has focused this year on working to lower trade barriers, to allow businesses across the APEC region take better advantage of opportunities arising both from existing and potential integration and connection.
CTI initiatives range from enhancing collaboration among regulators so that business is able to meet differing standards and conformance requirements within the region, and therefore increase their flow of goods, to action plans to improve supply chain connections to reduce the time, costs and uncertainty of moving goods and services in the region.
The report from the Senior Officials’ Committee on Economic and Technical Cooperation focuses on efforts to build capacity between economies to enhance trade and investment as well as deepening ties between the committee and other multilateral organisations and also the private sector.
For more information, contact:
Trudy Harris at th@apec.org or (+81) (0)80 3417 3130
Michael Chapnick at mc@apec.org or (+81) (0)80 40841709
11 November 2010
Asia-Pacific business leaders express support for Russia to join WTO
Issued by the APEC Business Advisory Council
Yokohama, Japan - Business leaders in the Asia-Pacific region have agreed to express strong support for Russia’s bid to join the World Trade Organisation.
At their final meeting for 2010, held in the Japanese port city of Yokohama, the APEC Business Advisory Council (ABAC) made the commitment as Russia prepares to host APEC in 2012.
ABAC, comprised of business leaders from APEC’s 21 economies, also decided to urge APEC Economic Leaders to take decisive action towards creating a Free Trade Area of the Asia-Pacific (FTAAP), when they hold a dialogue on Saturday.
ABAC will ask APEC Leaders to reach a decision on the most effective pathways to delivering a FTAAP, such as through the Trans-Pacific Partnership (TPP), or an Association of Southeast Asian Nations’ (ASEAN) framework, including the ASEAN+3 and ASEAN+6.
ABAC will meet with APEC Leaders to highlight the priority issues for businesses in the region.
“While much has been achieved to making the flow of trade and investments in the Asia-Pacific region more free and open since APEC began, the world has changed,” ABAC Chair Gempachiro Aihara said on Wednesday after the ABAC meeting.
“The changing nature of modern Asia-Pacific regional supply and value chains require deeper market integration for business to continue to grow,” he said. “Responding to the changes that have taken place in the region requires a new APEC vision that seeks to further liberalize flows of goods, services, investment, technology and people by addressing not just border barriers but those behind-the-border as well.
“We believe that FTAAP is the most practical way of achieving this. This is why we have asked and will continue to urge our Leaders to make decisive steps toward the realization of FTAAP.”
In its letter and annual report to Leaders, ABAC stressed that making progress on the FTAAP is the best strategy for achieving regional growth that is balanced, inclusive, sustainable, innovative and secure. It will also ensure APEC’s continuing leadership and relevance in the global economy.
About ABAC
ABAC brings together up to three business leaders from each of the APEC economies. They are appointed by APEC Leaders to provide insight to the priorities and concerns of the business sector.
For more information, please contact:
Mr. Osamu Kamikawa, ABAC Executive Director 2010, Tel: (813) 3285 7516, Email: o.kamikawa@mitsui.com
Mr. Antonio Basilio, ABAC Secretariat, Tel: (63 2) 845-4564, Email: abacsec@pfgc.ph
Ms. Tran Bao Ngoc, APEC Secretariat, Tel: (65) 6891 9616, Email: tbn@apec.org
10 November 2010
ABAC TO PRESS LEADERS FOR DECISION ON FTAAP
Yokohama, Japan - Business leaders from the Asia-Pacific region will urge APEC Economic Leaders to take decisive action towards creating a Free Trade Area of the Asia-Pacific (FTAAP) when they meet later this week.
The APEC Business Advisory Council (ABAC) will ask APEC Leaders to reach a decision on the most effective pathways to delivering FTAAP, such as the Trans-Pacific Partnership (TPP), or an Association of Southeast Asian Nations’ (ASEAN) framework, including the ASEAN+3 and ASEAN+6.
ABAC, comprised of business leaders from APEC’s 21 economies, held its final meeting for the year, in the Japanese city of Yokohama, ahead of a dialogue with APEC Leaders on Saturday when they will highlight the priority issues for businesses in the region.
“While much has been achieved to making the flow of trade and investments in the Asia-Pacific region more free and open since APEC began, the world has changed,” ABAC Chair Gempachiro Aihara said.
“The changing nature of modern Asia-Pacific regional supply and value chains require deeper market integration for business to continue to grow,” he said.
“Responding to the changes that have taken place in the region requires a new APEC vision that seeks to further liberalize flows of goods, services, investment, technology and people by addressing not just border barriers but those behind-the-border as well.
“We believe that FTAAP is the most practical way of achieving this. This is why we have asked and will continue to urge our Leaders to make decisive steps toward the realization of FTAAP.”
In its letter and annual report to Leaders this year, ABAC stressed that making progress on the FTAAP is the best strategy for achieving regional growth that is balanced, inclusive, sustainable, innovative and secure. It will also ensure APEC’s continuing leadership and relevance in the global economy.
To promote inclusive growth, ABAC is also calling for more action to further improve small, medium and micro enterprises’ (SMMEs) access to finance, technology and other capacity building programs. Since SMMEs make up the majority of businesses in the region, their growth can enhance economic integration.
ABAC also expressed support for decisions taken at the G20 meeting of Finance Ministers last month in South Korea, to pursue structural reforms to boost and sustain global demand, foster job creation and increase potential growth.
“Regulators should strike a balance between the need for stronger capital requirements, and insuring capital and liquidity flow to businesses,” ABAC said in a separate statement.
“ABAC further supports G20’s initiatives to mitigate excess volatility and disorderly movements in exchange rates, and to avoid protectionist measures. ABAC believes that excessive exchange-rate volatility is an impediment to an open multilateral trading system and the free flow of goods, services and capital.“
About ABAC
ABAC brings together up to three business leaders from each of the APEC economies. They are appointed by APEC Leaders to provide insight to the priorities and concerns of the business sector.
For more information, please contact:
Mr. Osamu Kamikawa, ABAC Executive Director 2010, Tel: (813) 3285 7516, Email: o.kamikawa@mitsui.com
Mr. Antonio Basilio, ABAC Secretariat, Tel: (63 2) 845-4564, Email: abacsec@pfgc.ph
Ms. Tran Bao Ngoc, APEC Secretariat, Tel: (65) 6891 9616, Email: tbn@apec.org
9 November 2010
APEC boosting growth for the region's future generations
Yokohama, Japan - APEC is working hard to foster closer cooperation and integration in the Asia-Pacific region so that growth and prosperity is shared by future generations, APEC Secretariat Executive Director, Ambassador Muhamad Noor, said on Tuesday.
Ambassador Noor said APEC is focused on three broad areas to boost economic growth across the region; trade and investment liberalization and facilitation; making it easier and cheaper to do business in the region; and increasing economic and technical cooperation between members.
Speaking at an APEC youth forum in the Japanese city of Yokohama, Ambassador Noor pointed to a 61 percent reduction in tariffs in the Asia-Pacific region since 1989, when APEC was formed, thanks in part to its ongoing work on trade liberalization.
Average applied tariffs have reduced from 16.9 percent in 1989 to 6.6 percent in 2008. APEC’s activities have also contributed to a six-fold increase in APEC members’ total trade in the same period. And, as a result, GDP per capita in the region has increased 47 percent.
“What this means for consumers and citizens are lower prices, greater choices, better standards of living, and, importantly, more employment,” Ambassador Noor told youth leaders, university students and officials.
“For businesses, this translates to open markets, increased competition and innovation, and reduced production costs. And from a broader perspective, for economies, this means increased trade between members, economic development and regional integration.
“It is widely known that trade contributes to growth and creates employment; and jobs created in exporting industries tend to be better paying.”
Ambassador Noor was giving the keynote speech at the APEC Voices of the Future 2010, an annual event for youth leaders in APEC member economies that aims to provide a platform to engage with government and business on issues relevant to APEC. The event was held at Nissan headquarters in Yokohama and was organised to coincide with Leaders’ Week.
Given its membership and economic influence, APEC is an important entity on the world stage. It is a strategic vehicle for diplomatic and economic engagement between economies such as the US, China, Japan and Russia, and it plays an important role in advancing negotiations in other forums such as the WTO, the Ambassador told the forum.
“APEC’s range and size also means that its core work can result in large-scale achievements and far-reaching benefits,” he added.
APEC members now account for 40 percent of the world’s population, 44 percent of global trade and 54 percent of world GDP.
APEC is committed to the Bogor Goals set in 1994 of realizing free and open trade and investment in the region, which are a key to enhancing growth and prosperity. An assessment of member economies’ progress towards these goals has been undertaken and will be presented to Leaders in Yokohama this week.
Ambassador Noor said increasing technical cooperation is an important part of APEC’s agenda, especially for the developing economies, to help secure the region’s growth. Some 1,600 capacity building projects have been undertaken within APEC since 1993.
APEC is also focused on improving the ease of doing business in the region, from initiatives that simplify customs procedures to those that seek to harmonise standards and regulations. APEC’s trade facilitation action plan led to a five percent reduction in business transaction costs in the region between 2002 and 2006. A second action plan looks set to achieve another five percent cut.
APEC is also working towards its goal of making it 25 percent cheaper, faster and easier to do business by 2015, with an action plan that helps in particular development of the region’s small and medium enterprises.
In light of the global financial crisis, Japan, as host of APEC in 2010, is leading development of a new growth strategy that aims to sustain prosperity in the future in the region. The strategy, which is expected to be released by Leaders this week, focuses on five attributes of growth: balanced, sustainable, innovative, inclusive and secure.
“Given the uncertainty surrounding the health of the global economy and persistent concerns related to climate change and energy and food security, APEC’s focus has turned to considering how to sustain future economic growth,” Ambassador Noor said.
“APEC’s new vision points to a broadening of the APEC agenda, from trade and investment liberalisation, towards broader social and environmental objectives.
“This means that rather than just promoting economic growth, APEC will be pursuing “higher quality growth” – namely growth that is sustainable and that will ensure prosperity for all in the long term. This new paradigm highlights APEC as a dynamic forum that responds to new challenges and global realities.”
For more information, contact:
Trudy Harris at th@apec.org or (+81) (0)80 3417 3130
Michael Chapnick at mc@apec.org or (+81) (0)80 40841709
8 November 2010
APEC Senior Officials finalize key initiatives for Leaders
Yokohama - APEC senior officials have finalized recommendations for Ministers and Leaders on a new economic growth strategy, possible pathways to a Free Trade Area of the Asia-Pacific and a report on assessment of progress on the Bogor Goals.
After two days of meetings, the officials from APEC's 21 member economies concluded discussions on the priorities to be presented to Ministers and Leaders this week on these key APEC initiatives developed during 2010.
The concluding Senior Officials' Meeting (SOM) is part of a week of annual APEC meetings, held this year in the Japanese city of Yokohama, including the Ministerial Meeting, a gathering of trade and foreign ministers, the CEO Summit, the SME Summit and the Leaders' Meeting on the weekend.
APEC members, which account for 40 percent of the world's population, 44 percent of global trade, and 55 percent of world GDP, has been developing a growth strategy which sets a vision for future growth in the region amid the changing economic landscape.
Against the backdrop of the 2008 financial crisis, APEC has developed the strategy which encourages improvement in the region's "quality of growth." The strategy aims to achieve balanced, inclusive, sustainable, innovative and secure growth.
"By putting a multi-year growth strategy in place for the region, we will assure future generations of a sustainable path towards prosperity," SOM co-chair, Shigeru Nakamura, from Japan's Ministry of Foreign Affairs, explained.
Expanding APEC's agenda on structural reform was also agreed at the meeting to contribute to recovery from the global financial crisis through enhanced productivity, regional economic integration and balanced and inclusive economic growth.
A report on the assessment of progress by APEC economies towards the Bogor Goals was also discussed. Set in 1994, the Bogor Goals are a key commitment to realizing free and open trade and investment by 2010 for APEC's five industrialized economies and 2020 for developing economies.
"Based on an initial review it seems that the economies under assessment have made progress towards an environment that encourages trade among APEC members," said SOM co-chair Hidehiko Nishiyama, from Japan's Ministry of Economy, Trade and Industry.
Thirteen economies, the five industrialized and another eight who have volunteered for assessment ahead of 2020, have undergone a thorough assessment to measure their progress towards the goals. A report will be presented to Ministers and Leaders this week.
APEC has also been exploring possible pathways to a Free Trade Area of the Asia-Pacific or FTAAP, which is part of APEC's agenda on greater regional economic integration to increase trade and investment and boost prosperity in the region.
For photos, visit: http://www.apec.org/apec/news___media/news_photos.html
For more information, contact:
Trudy Harris at th@apec.org or (+81) (0)80 3417 3130
Michael Chapnick at mc@apec.org or (+81) (0)80 40841709
6 November 2010
APEC Finance Ministers contribute priorities to secure future growth
Issued by the APEC Secretariat
Kyoto, Japan - APEC Finance Ministers agreed to contribute priorities for future growth at their meeting here on Saturday after exchanging views on current economic and financial developments and policy direction in the Asia-Pacific region.
Issuing a declaration at the end of their meeting, Ministers emphasized the importance for APEC members to take policy measures to achieve strong, sustainable and balanced growth in the region.
For the joint ministerial statement, visit:
http://www.apec.org/apec/ministerial_statements/sectoral_ministerial/finance/2010_finance.html
Ministers agreed to submit the "Kyoto Report on Growth Strategy and Finance" to APEC Economic Leaders for their consideration when they meet next week in Yokohama. The report identifies priorities for securing future growth, including rebalancing and strengthening of global demand, pursuing sound fiscal management, and enhancing finance to key sectors such as infrastructure, small and medium enterprises, households and green investment.
In their joint statement Ministers acknowledged that the global economy is recovering from the recent financial crisis, but uncertainty remains. While growth in the region is uneven across economies, They said financial reforms are proceeding and that APEC economies should continue to take steps to build a stronger and more resilient global financial system. They also said that they remain committed to maintaining open markets and fighting protectionism.
In support of recent moves by the G20, Ministers agreed to strengthen multilateral cooperation to promote external sustainability and pursue the full range of policies conducive to reducing excessive imbalances and maintaining current account imbalances at sustainable levels.
Because of the weight of APEC economies and their role in the global economy, Ministers recognized that each member, whether a surplus or deficit economy, has to implement policy measures. Economies with current account deficits will need to take steps to boost domestic saving while those with current account surpluses need to reduce their reliance on external demand and undertake structural reforms that catalyze stronger domestic demand-led growth.
Ministers also said that they will move towards more market-determined exchange rate systems that reflect underlying economic fundamentals and will refrain from competitive devaluation of currencies.
They also said that they need to ensure appropriate financing for several key areas, including for infrastructure, to strengthen growth, enhance productivity, alleviate poverty and improve access to service delivery systems. Ministers said they will continue to support emerging APEC economies as they implement public-private partnership infrastructure projects, including through a new mentoring program to be launched next year.
Addressing the needs of micro, small and medium-size enterprises, and households, Ministers launched an APEC Financial Inclusion Initiative to identify concrete actions that financial policy makers can take to expand the reach of financial services to those that need them.
Ministers committed to taking action to raise international regulatory standards to ensure a level playing field and avoid fragmentation of markets, protectionism and regulatory arbitrage while also recognizing the importance of creating more open and integrated financial markets in the region.
International financial institutions, including the Asian Development Bank, the International Monetary Fund and the World Bank also addressed the meeting and provided analysis and economic forecasts for the region.
The outcomes of the 17th APEC Finance Ministers’ Meeting will be delivered to APEC Economic Leaders when they meet in Yokohama, Japan next weekend.
For more information, please contact:
Michael Chapnick (in Japan): +65 96474847 (mobile) or mc@apec.org
Trudy Harris (in Japan): +81 (0)80 34173130 or +65 98983710 (mobiles) or th@apec.org
31 October 2010
APEC Ministers work to boost broadband access
Nago, Japan - At the end of a two-day meeting, APEC Ministers adopted a declaration to develop and promote information and communications technology (ICT) to improve quality of life in the Asia-Pacific region and enhance economic growth.
The Ministers focused on five areas for action for 2010-2015: to develop ICT to promote new growth, enhance socio-economic activities through the use of ICT, promote a safe and trusted ICT environment, promote regional economic integration and strengthen cooperation in the ICT sector.
Ministers acknowledged that the APEC goal, set in 2000, of universal access to the Internet by 2010 in the APEC region has largely been achieved, and reaffirmed a commitment to achieve universal access to broadband in the region by 2015.
They also set a new goal of access to next generation high-speed broadband networks in the region by 2020, and agreed to encourage economies to develop and implement strategies to make ICT more accessible to people with special needs.
On addressing socio-economic challenges, Ministers agreed to:
Develop and promote ICT applications such as smart and resilient grids and sensor networks to enhance energy efficiency and provide other environmental benefits
Develop and promote best practices for using ICT to more efficiently deliver services online including e-Commerce, e-Health, e-Education, and e-Government
Improve information sharing and cooperation of networks and technologies to better respond to natural disasters
Cooperate to promote emerging services and technologies such as grid computing and cloud computing, which allows users to access software and stored data remotely via the Internet
Ministers encouraged economies to increase cooperation and collaboration to counter threats over the Internet and raise awareness of the need for strong cybersecurity. Ministers also encouraged economies to urgently enhance methods to protect children from online threats.
Addressing the meeting in Nago in Okinawa Prefecture, Ministers stressed the importance of strong information sharing and technology collaboration between APEC economies, as well as between APEC and other international organisations and the private sector.
Ministers also endorsed a strategic action plan from APEC-s Telecommunications Working Group. The Okinawa Declaration will contribute to APEC-s new growth strategy which is expected to be finalized and adopted by Economic Leaders at their annual meeting, to be held in Yokohama, Japan in November.
For more information, contact:
Trudy Harris +65 68919671 or th@apec.org
Michael Chapnick +65 96474847 or mc@apec.org
29 October 2010
APEC Ministers to tackle new socio-economic growth
Okinawa, Japan - APEC Ministers will focus on development of broadband infrastructure and advancing information and communications technology (ICT) in critical areas such as education, health, energy and the environment when they meet here this week.
At the October 30-31 meeting, Ministers will also address ongoing efforts to develop free and open markets in the Asia-Pacific region for the telecommunications and information technology industries, including regulations that encourage increased competition and investment in APEC economies.
Meeting under the theme "ICT as an Engine for New Socio-Economic Growth," Ministers will turn to initiatives aimed at developing and sharing best applications of ICT to address problems such as energy and resource constraints and environmental degradation, as well as enhancing the effectiveness of emergency preparedness in the region.
"APEC is developing next broadband goals and initiatives aimed at using ICT to address social-economic challenges in areas such as the environment, emergency response, medicine, education and energy efficiency," said Yoshihiro Katayama, Japan's Minister of Internal Affairs and Communications, who is chairing the meeting.
Measures to strengthen cyber security, including effective policies to protect personal information and security of networks as well as efforts to protect vulnerable groups from online threats, will also be addressed by the Ministers.
APEC Cyber Security Awareness Day will be held in conjunction with the meeting to highlight the importance of sharing information between member economies on this issue and collaborating on region-wide efforts to address cyber security.
The meeting is expected to prove crucial to shaping APEC's long-term growth strategy which will be finalized for Economic Leaders at their annual meeting, to be held next month in Yokohama. The strategy includes promoting economic growth across the region through fostering innovation and a knowledge-based economy.
Telecommunications and ICT have, throughout the years, revolutionised the way the region's citizens communicate, do business, interact with governments and educate and inform themselves.
Internet broadband subscriptions have increased from .2 per 100 inhabitants in the region in 1999 to 10.8 in 2009. Similarly mobile phone subscriptions have rocketed from 10.5 in 1999 to 76.6 per 100 inhabitants in 2009, according to data from StatsAPEC, an extensive database showing economic performance in the Asia-Pacific region.
Ministers are committed to achieving an ambitious goal, set in 2008, of universal access to broadband in the APEC region by 2015. APEC economies have achieved the goal of tripling internet access in the region, and largely achieved the goal of universal internet access by 2010 in terms of ICT infrastructure.
For more information, contact:
Trudy Harris +65 98983710 or th@apec.org
Michael Chapnick +65 96474847 or mc@apec.org
22 October 2010
EFFICIENT CORENET SYSTEM IS KEY LEARNING POINT AT APEC WORKSHOP
- Delegates from APEC economies learn how Singapore deals with construction permits via CORENET
- Thirty-five delegates from fourteen economies under the Asia-Pacific Economic Cooperation (APEC) convened in Singapore to learn from Singapore's experiences in re-engineering and reforming the regulatory system for construction permits. This was the first time the Building and Construction Authority (BCA) of Singapore has specially tailored a workshop for the APEC economies to help strengthen capabilities and share knowledge in dealing with construction permits. The five-day capacity-building workshop, which ran from 18 to 22 October 2010, was jointly sponsored by Singapore (Ministry of Foreign Affairs and Ministry of Trade and Industry) and APEC under the Singapore-APEC Joint Training Programme.
- Singapore has been ranked in the World Bank's Doing Business Report as one of the most business-friendly economies over the past three years. The ease of dealing with construction permits is one of the indicators that contribute to this ranking. As Chair of APEC 2009, Singapore spearheaded the launch of the APEC Ease of Doing Business Action Plan, which aimed to drive regulatory reforms to make it cheaper, faster and easier to do business in the region. Based on feedback from the business community, APEC identified 'Dealing with Permits' as one of the priority areas for reform, and Singapore has stepped forward as a champion economy to lead a multi-year work programme to assist APEC economies in improving and building capacity in this area.
- Singapore's seamless process for the submission of building plans for construction permits comes in the form of the Construction Real Estate Network (CORENET), a one-stop platform that allows stakeholders to make electronic submissions to multiple agencies simultaneously. CORENET was an information technology initiative driven by BCA in 1995 to transform a time-consuming and complex submission process into one which is paperless, easily accessible and highly efficient. It has also helped enhance communication between government agencies and industry stakeholders.
- Over the five-day programme, senior officers from the various Singapore agencies involved in the building control system gave the foreign delegates an overview of Singapore’s regulatory framework, particularly in the area of Building Control. CORENET was one of the case studies used to highlight the challenges, policy considerations and key success factors that contributed to the development and implementation of an effective and efficient building regulatory system.
- Delegates to the workshop were glad to hear from Singapore's experiences. Mr Sidoro Ilya, Head of the Building Activity Control Department, Federal Ministry of Regional Development, Russia said, "We hold Singapore in high esteem for having a strong regulatory system in dealing with construction permits, especially in coordinating the submission processes amongst the respective regulatory bodies. Their willingness to improve on existing procedures had helped speed up processes and made things easier for the Qualified Persons."
- Commenting on BCA's role in this inaugural workshop, Dr John Keung, CEO of BCA said, "BCA is glad to bring together the various government agencies to share Singapore's experiences in improving the way we deal with construction permits. CORENET is an integral part of this success and would serve as a great example to illustrate the multi-ministry collaboration in streamlining the processes. Although there was a need to make extensive changes to existing workflows and procedures, the development of CORENET has proven to be a necessary move to propel Singapore and the construction industry forward."
- The programme, entitled "APEC Ease of Doing Business Workshop on Reforming the Regulatory System for Construction Permits" took place at the BCA Academy, the education and research arm of BCA. The entire curriculum was delivered through a combination of presentations, case studies and discussion sessions to facilitate interaction amongst the delegates and presenters. In addition, the delegates heard from guest speakers from the World Bank, and the building control authority of other APEC economies. They were also brought on two learning journeys to the Marina Bay City Gallery and novaCITYNETS Pte Ltd, an e-Government solutions provider.
Issued by Building and Construction Authority on 22 October 2010.
17 October 2010
APEC issues declaration on food security
Niigata, Japan - At the conclusion of the 1st APEC Ministerial Meeting on Food Security, APEC ministers adopted the Niigata Declaration on APEC Food Security.
Meeting for the first time, in Niigata, Japan on Saturday and Sunday, APEC Ministers recognized the region’s vulnerability to food price spikes, population increases and constraints on agricultural production and how these issues impact long-term food security.
They stated that trade plays a key role in food security. Improved food security in the region would contribute to the attainment of APEC’s human security goals and assist the implementation of the APEC Leaders’ Growth Strategy.
APEC member economies agreed to collectively pursue shared goals of sustainable development of the agricultural sector and facilitation of investment, trade and markets.
Ministers agreed that cooperation is required in order to help adapt to, and mitigate, climate change and to enhance disaster preparedness in the agricultural sector to help the region achieve a stable supply of food for its people. They agreed on the following actions:
Expanding food supply capacity
Enhancing disaster preparedness in agriculture
Developing rural communities
Confronting challenges in climate change and natural resource management
Ministers also agreed that food security cannot be achieved without stable, efficient and equitable distribution systems that can deliver food to the whole population. To accomplish the goal of facilitation of investment, trade and markets, Ministers agreed that APEC economies should cooperate to:
Promote investment in agriculture
Facilitate trade in food and agricultural products
Strengthen confidence in agricultural markets
Improve agribusiness environment
Improve food safety practices
Ministers also endorsed an APEC Action Plan on Food Security, which identifies specific activities to be implemented by APEC economies to strengthen regional food security.
With inputs from Food and Agriculture Organization, Asian Development Bank, the United Nations Conference on Trade and Development, the World Food Program, the World Bank, the United Nations’ High-Level Task Force and the International Fund for Agricultural Development during the plenary session, Ministers recognized that meaningful consultation with relevant stakeholders is critical to making sustained progress towards our food security goals.
APEC Food Ministers will convey the outcomes of their meeting to APEC Leaders in November when they meet in Yokohama, Japan.
For the declaration, visit:
http://www.apec.org/apec/ministerial_statements/sectoral_ministerial/food_security/2010_fs.html
For more information, contact:
Michael Chapnick +65 96474847 or mc@apec.org
Trudy Harris +65 98983710 or th@apec.org
14 October 2010
APEC Ministers to hold first meet on food security
Niigata, Japan - APEC Ministers will tackle key issues involving the sustainable development of agriculture and increased investment and trade in the sector when they gather here this week for the first-ever APEC Ministerial Meeting on Food Security.
During the October 16-17 meeting, Ministers will develop an action plan, aimed at improving reliable access to food, particularly agricultural products, throughout the Asia-Pacific region, where about one quarter of the world's undernourished people live.
Although food security has long been a priority issue for APEC, the remarkable spike in food prices between 2007 and 2008 and the global financial crisis have highlighted the fragility of balancing food demand and supply. The region is also frequently affected by natural disasters that can damage production and reduce access to food.
In 2009, the world's undernourished population exceeded one billion people and estimates by the Food and Agriculture Organization of the United Nations indicate that to accommodate a world population of more than nine billion by 2050, food production must increase by 70 percent.
APEC Ministers will address environmental concerns related to agriculture production, including the impact of climate change. Emergency preparedness for agriculture in the event of natural disasters is also expected to be discussed along with development of rural communities that rely on agriculture as a source of income.
The meeting is also set to look at promoting investment in agriculture to meet growing food consumption needs, facilitating trade of agricultural products and strengthening confidence in international agricultural markets to address volatility and uncertainty in commodity prices.
The Ministerial meeting will make an important contribution to APEC's agenda of "human security", and the formulation of its growth strategy, to be finalized by Leaders in Yokohama in November, which is committed to "high-quality economic growth" in the region.
At the conclusion of the meeting, Ministers are expected to issue a declaration on APEC food security and an action plan on food security and hold a press conference for local and international media.
For more information, contact:
Michael Chapnick +65 96474847 or mc@apec.org
Trudy Harris +65 98983710 or th@apec.org
12 October 2010
APEC Ministers release declaration on healthy oceans, sustainable fisheries management and food security
Paracas, Peru - At the conclusion of this week's meeting in Paracas, Peru, APEC Ministers responsible for fisheries and marine resources conservation, adopted the Paracas Declaration.
Chaired by Peru's Minister of Production, Mr. Jorge Villasante, the grouping acknowledged that they met at a time when the global economy continues to recover from recession, in the wake of a spike in food prices, in the face of intensifying effects of climate change on ecosystems, and when marine ecosystems were under increasing stress due to a growing range of activities.
Held under the theme "Healthy Oceans and Fisheries Management towards Food Security," in Paracas, a marine sanctuary at the shores of the Pacific Ocean, the Ministers stated that they will focus on four themes going forward:
Sustainable development and protection of the marine environment;
Impact of climate change on the oceans;
Free and open trade and investment; and,
The role of oceans in food security
The Paracas Declaration includes an action agenda that addresses key challenges and reaffirms earlier commitments. Ministers called for the following actions:
Seek ways to promote cooperation among APEC economies to contribute towards regional assessments in the APEC region and understanding of the marine ecosystem;
Ensure sustainable management of the marine environment by encouraging capacity building and information sharing on approaches among APEC economies to protect human health, provide economic and social benefits, and contribute to food security in the APEC region;
Encourage APEC economies to reduce both sea and land-based sources of marine pollution and marine debris;
Gather and share scientific knowledge on climate change and its impacts on coastal and marine ecosystems, fisheries and aquaculture;
Stress the importance of the fisheries subsidies negotiations as part of the World Trade Organization Doha Development Agenda and urge APEC economies to actively commit to a successful and effective outcome of these negotiations. This is in line with the 2005 WTO Hong Kong Ministerial mandate to strengthen disciplines on subsidies in the fisheries sector, taking into account the importance of the fisheries sector for poverty reduction, job creation and food security;
Promote the sustainable management of fisheries and aquaculture resources both domestically and internationally through, among other things, application of science to management, implementation of ecosystem approaches and a precautionary approach to fisheries, and ensuring that sufficient institutional capacity is in place.
APEC Oceans Ministers will convey the outcomes to the first APEC Ministerial Meeting on Food Security, which will be held on 16-17 October, in Niigata, Japan and to the attention of APEC Leaders at their meeting in November in Yokohama, Japan.
For more information, contact:
Michael Chapnick (in Peru): +65 9647-4847 (mobile) or mc@apec.org
Trudy Harris (in Singapore): +65 9898-3710 (mobile) or th@apec.org
12 October 2010
APEC Ministers move to protect, conserve oceans; focus on food security
Paracas, Peru – APEC Oceans Ministers focused on the region's food security, sustainable development and protection of the marine environment and free and open trade and investment after opening their meeting on Monday in Paracas, Peru.
APEC Oceans-related Ministers also discussed the impact of climate change on oceans at the October 11-12 meeting, which is being held under the theme "Healthy Oceans and Fisheries Management towards Food Security."
Highlighting concerns about climate change, Peru's Minister of Production, Jorge Villasante, said that the effects of global warming on ocean life are irreversible and put marine species at risk.
"There is no denying that the planet's oceans are in crisis due to climate change, destructive fishing practices, increased illegal fishing and over-fishing. These are major threats to the marine environment."
During the plenary session, Ministers held discussions with the aim of building consensus on the substance of the major issues, including how oceans can contribute to feeding under-nourished populations.
Minister Villasante went on to say that evaluating the oceans as a source of food for the important provision of proteins and vital nutrients is critical.
Delegates also called for urgent action to improve conservation of marine ecosystems in the Asia-Pacific region, saying 80% of the world's fish population is over-exploited. They recognized that diverse studies on the actual state of the marine environment and its resources show a continuous degradation of the ecosystem´s health.
Other delegates highlighted the impact of the fisheries industry on the Asia-Pacific region in relation to the trade and investment challenges for the sector, including tariffs and the need for eco-certification and eco-labelling when exporting to some member economies, increased sanitary and phyto-sanitary requirements, traceability, subsidies and overcapacity.
The impact of climate change on oceans was highlighted. Changes in the migration routes of fish as a result of climate change will have a significant impact on fisheries and other marine industries. Studies show large number of marine species could move from tropical seas towards cooler waters to avoid rising water temperatures caused by climate change.
Ministers recognized that trade plays an important role in strengthening food security and contributes to the satisfaction of the worldwide demand of nutrients.
APEC Ministers will convey the outcomes to the first APEC Ministerial Meeting on Food Security, which will be held on 16-17 October, in Niigata, Japan and to the attention of APEC Leaders at their meeting in November in Yokohama, Japan.
For more information, contact:
Michael Chapnick (in Peru): +65 9647-4847 (mobile) or mc@apec.org
Trudy Harris (in Singapore): +65 9898-3710 (mobile) or th@apec.org
8 October 2010
APEC Ministers address sustainable fishing
Paracas, Peru – Securing fish supplies, sustainable management of marine resources, enhancing free trade and the effects of climate change on oceans will be addressed by APEC Ministers meeting here next week.
The 3rd APEC Oceans-related Ministerial Meeting will be held in Paracas on Peru's south coast on October 11-12 to address key issues impacting fisheries, a crucial industry for the Asia-Pacific region, which accounts for about half of global fish exports.
Peru's Minister of Production, Jorge Villasante, said APEC's ongoing commitment to enhancing the security and sustainability of the sector is important, especially given its size and socio-economic significance for the region.
"APEC economies account for more than half of the world's exports of fishery products in terms of value, while six of the 10 largest exporters of seafood products are APEC member economies," the Minister said.
APEC member economies account for 65 percent of the world’s capture fisheries and more than 80 percent of aquaculture production. APEC economies account for approximately half of the world’s exports of fishery products in terms of value, totalling USD45.6 billion in 2007.
The fisheries and aquaculture sector employs about 26.2 million people in the region, and for some living in rural and remote areas, it is one of the few sources of available income.
The region also consumes 70 percent of the world’s fish products, including from aquaculture. Ensuring reliable and affordable access to seafood is therefore a key issue for APEC Ministers, along with sustainable development of the industry and protection of the marine environment.
Enhancing fair and equitable trade in the industry is also expected to be discussed along with the effects of climate change on oceans, such as rising sea levels and their impact on coastal communities.
Ministers are expected to share information on food security issues in their economy, and to release a joint statement at the end of the two-day meeting on the way forward. Ministers will also hold a press conference for local and international media.
For more information, contact:
Trudy Harris +65 98983710 or th@apec.org
Michael Chapnick +65 96474847 or mc@apec.org
For media registration, contact: vloyola@produce.gob.pe or mcanales@produce.gob.pe or prensa@produce.gob.pe or jberrio@produce.gob.pe
3 October 2010
APEC Ministers target growth of SMEs
Gifu, Japan, 3 October, 2010 - In a joint statement issued today, APEC Ministers responsible for Small and Medium Enterprises (SMEs) target the challenges of fostering long-term growth following the global economic crisis.
Following two-days of discussions, Ministers released the statement containing recommendations for Leaders to guide the development of policy for SMEs in their respective economies.
Ministers considered the impact of the global financial crisis on SMEs and the emergency stimulus responses by APEC member economies, concluding that "overall, economic growth of SMEs in the APEC region is back on track."
The statement discussed development of SMEs over the next few years and noted that looking forward to 2020, efforts to enhance development should focus on improving their access to global markets and increasing their participation in high-growth sectors, such as in the green, medical and healthcare industries.
Ministers said that efforts could include the following and agreed to call the first three efforts the "Gifu Initiative":
Supporting SMEs to take advantage of each locality's domestic and regional resources to develop high value-added products, and to sell to the global marketplace
Promoting exhibitions and trade shows in the region that are open to the Asia-Pacific region's SMEs
Supporting SMEs to expand and strengthen networking by launching international internship and exchange programmes
Strengthening assistance for human resources development, innovation, business change, productivity improvement, and entrepreneurship
Developing a coordinated approach between SME- and related agencies to implement measures aimed at improving access to finance, capability building and the legal system
"We, the Small and Medium Enterprises Ministers, aim to generate dynamic and diverse SMEs in the Asia-Pacific region, from micro to mid-sized enterprises, in industries that support the basics of everyday life through to those developing and employing the most advanced technologies," the statement said.
The statement is a result of the 17th APEC Small and Medium Enterprises Ministerial Meeting in Gifu, Japan which was held under the theme "Strategy for Reinvigorating Economic Growth with Dual Engine: SME and Asia-Pacific Economy."
Ministers recognized that continuing to support the development of SMEs was an important component of APEC's new growth strategy, which will be formulated by Leaders in Yokohama in November.
The strategy supports "high quality growth" including the attribute of inclusiveness, which aims to spread the benefits to wider sections of the community, and innovation. Continuing to enhance SMEs is therefore crucial for APEC, given that they account for around 90 percent of all businesses in the Asia-Pacific region and employ as much as 60 percent of its work force.
To view the statement, go here.
For more information, contact Trudy Harris (65) 98983710 or th@apec.org
26 September 2010
APEC Senior Officials assess progress ahead of Leaders’ meeting
Sendai, Japan, 26 September, 2010 – Senior Officials discussed key reports and recommendations on enhancing trade and investment in the Asia-Pacific region that will be submitted to Ministers and Leaders of member economies when they meet in November.
At the two-day Senior Officials’ Meeting (SOM) in Sendai, Japan, delegates focused on APEC’s 2010 initiatives including its “high-quality” growth strategy, assessment on progress of the Bogor Goals and the way forward on greater regional economic integration.
They made progress on the substance of APEC’s growth strategy, which aims to improve the quality of economic growth in the Asia-Pacific region in the wake of the global financial crisis, and identifies five key areas to target.
Although the APEC region has become the world’s growth centre by promoting free and open trade and economic integration, APEC Leaders declared in 2009 the need for a strategy on growth, recognizing that challenges such as further environmental sustainability and social inclusiveness are essential to the future prosperity and well-being of its citizens.
“Is it clear that member economies cannot continue with ‘growth as usual’ and the quality needs to be improved so that it is more balanced, inclusive, sustainable, innovative and secure,” APEC Japan 2010 Senior Official Co-Chair Shigeru Nakamura said.
“Member economies recognize, for example, the need to protect our environment and natural resources and therefore develop sustainable growth. APEC could also contribute to inclusive growth by promoting policies for job creation as well as more economic opportunities for women,” he said.
APEC Japan 2010 Senior Official Co-Chair Hidehiko Nishiyama added: “The meeting made progress towards finalizing this strategy which will be presented to Leaders on the way forward for the next five years.”
Senior officials also held discussions on the substance of a report that assesses APEC member economies’ progress on free and open trade. The assessment report on meeting the Bogor Goals will also be presented to Ministers and Leaders in November.
APEC Leaders issued a declaration in Bogor, Indonesia in 1994 that called for industrialized member economies to achieve free and open trade by 2010, and developing members by 2020. APEC has conducted a thorough and objective assessment on the progress of achieving those goals, with consultation from APEC’s Policy Support Unit and external bodies.
The progress of five economies – Australia, Canada, Japan, New Zealand and the USA – has been examined. Another eight economies, Chile, Hong Kong China, Korea, Malaysia, Mexico, Peru, Singapore and Chinese Taipei, have volunteered to undergo early assessment before their own target date of 2020.
Officials also focused on the way forward on APEC’s strategy for structural reform. APEC is undertaking initiatives aimed at making it easier to do business by reducing “behind-the-border” barriers to trade, such as reducing unnecessary and costly regulations and reforming competition policy.
They also focused on ways to accelerate regional economic integration, including possible pathways to a Free Trade Area of the Asia-Pacific.
Officials have been holding related meetings, workshops and symposiums in Sendai in the lead up to the Senior Officials’ Meeting, which covered a wide range of issues, including non-tariff barriers to trade, energy security, food security, disaster preparedness, sustainable tourism, anti-corruption and supply chain connectivity.
The APEC Senior Officials’ Meeting is the third this year, and officials will gather again in November to finalize recommendations for Ministers’ and Leaders’ meeting, which takes place later that month.
For more information, contact:
Trudy Harris: +65 9898-3710 (mobile) or , Email: th@apec.org
Michael Chapnick: +65 96474847 (mobile) or , Email: mc@apec.org
For photos, visit: http://www.apec.org/apec/news___media/news_photos.html
23 September 2010
APEC Ministers commit to strengthening tourism
Nara, Japan, 23 September, 2010 – At the conclusion of their meeting on Thursday, APEC Tourism Ministers adopted the “Nara Declaration” to support sustainable, inclusive and balanced economic growth of the industry in the Asia-Pacific region.
After two days of talks in Nara, Japan, Ministers recognised the “economic importance of tourism, including the creation of jobs, reduction of poverty and conservation of the environment” and stressed their determination to continue to strengthen the industry to help develop the region.
“During this period of significant change in the global political and economic order, tourism will continue to play an important and relevant role in the Asia-Pacific region,” the declaration said.
Ministers agreed on the importance of protecting the cultural, natural and heritage assets of member economies by encouraging visitor flows more evenly, and to provide more stable employment in the industry.
“This approach could enable tourism to grow in a sustainable, balanced and inclusive manner,” the declaration said.
The declaration will contribute to APEC’s new growth strategy. The strategy is a commitment to produce “high-quality” growth in the region in the wake of the global financial crisis, and will be submitted to APEC Leaders for consideration when they meet in November in Yokohama.
Ministers agreed in Nara to exchange information and best practice on efforts to expand newer and emerging types of tourism such as medical and wellness, religious events tourism, sports tourism, cruise tourism, ecotourism, and MICE (Meetings, Incentive travel, Conventions and Exhibitions/Events).
“These avenues could stimulate new demand and tourism-related investment across the Asia-Pacific region,” the declaration said.
The Nara Declaration also covers the following areas:
Promoting collaboration between tourism offices and organizations, both public and private, in member economies
Greater collaboration between APEC groups, the private sector and international bodies
The need to implement strategies to promote the sustainable management of tourism businesses and destinations
APEC’s share of world tourism has been growing over the past 15 years, according to StatsAPEC
, an extensive database showing economic performance in the Asia-Pacific region. APEC’s share of world tourism has increased from 28 percent in 1995 to currently 51 percent. International tourism arrivals in the APEC region have grown approximately 122 million over this period.
For more information please contact:
Trudy Harris: +65 9898-3710 (mobile) or , Email: th@apec.org
22 September 2010
APEC ministers urge sustainable growth of tourism
Nara, Japan, 22 September, 2010 – Tourism Ministers from the Asia-Pacific region stressed the importance of achieving sustainable and inclusive growth in this key industry, on the opening day of the 6th APEC Tourism Ministerial Meeting on Wednesday.
Opening the meeting, Japan’s Minister for Land, Infrastructure, Transport and Tourism, Sumio Mabuchi, said tourism, like the rest of the economy, had suffered from the global financial crisis, natural disasters and the H1N1 virus in recent years.
However Minister Mabuchi, who is chairing the meeting, said tourism has potential to play a key role in the region’s economic recovery. Steps, therefore, need to be taken by APEC to help nurture the industry so that it grows sustainably for future generations.
“Although we see some signs of upturn in the economy starting from this year, we are still far away from a full-fledged recovery. So there are efforts being taken around the world to bring about growth,” Minister Mabuchi told the meeting in his home town of Nara, Japan.
“The tourism industry is an industry which can actually enable growth without resorting to fiscal stimulus. It is an industry that has the potential to impact on the revitalisation of the regional economy as well as on employment and therefore the sustainable growth of this industry is of paramount importance.”
“Over the next two days in this ministerial meeting, I do hope that we can have very robust and active discussion and exchange of views and express and translate our strong resolve into the Nara Declaration, so that we can jointly take one step forward.”
APEC’s share of world tourism has been growing over the past 15 years, according to StatsAPEC, an extensive database showing economic performance in the Asia-Pacific region. APEC’s share of world tourism has increased from 28 percent in 1995 to currently 51 percent. International tourism arrivals in the APEC region have grown approximately 122 million over this period.
During the plenary session, Ministers discussed the important role that the sector can play in contributing to APEC’s new growth strategy, which will be submitted to APEC Leaders for consideration when they meet in November in Yokohama.
In particular, Ministers discussed the need for protection of the region’s natural and cultural assets to create a more environmentally sustainable sector. Creating more stable workforces in the sector and enabling tourism to generate business opportunities for small and medium sized enterprises would also lead to more inclusive growth of the sector that benefits more sections of society.
Among other topics discussed was the importance of sharing information and ideas between member economies to strengthen the industry, and closer cooperation between APEC fora, the private sector and other international organisations to help achieve APEC’s goals.
Ministers provided an assessment of the tourism industry in their economies, and also received a report on the results of the APEC Tourism Working Group. The meeting will continue on Thursday before Ministers are expected to release the “Nara Declaration” on Tourism and hold a press conference.
For more information please contact:
Trudy Harris: +65 9898-3710 (mobile) or , Email: th@apec.org
For StatsAPEC, visit: http://statistics.apec.org/
22 September 2010
Private sector presses for innovation to drive APEC growth strategy
Sendai, Japan, 22 September, 2010 - Asia Pacific officials heard at a trade policy conference on Tuesday how innovation helps create jobs for SMEs, boosts rural development, and creates efficiencies in healthcare.
The private sector shared their views with APEC officials in Sendai where they gathered to address a broad range of issues, including the role of the application of innovation in information and communications technology (ICT) development and its impact on economic growth.
Delegates heard how ICT can effectively address global challenges in critical areas such as energy, health, environment and how important it is for economies to put in place policies that encourage innovation.
Experts also said ICT usage increases the level of efficiency provided to various social services including public safety, education, government-provided healthcare and transportation.
According to John Neuffer, Information Technology Industry Council's Vice President for Global Public Policy, a 10% increase in broadband penetration in low and middle-income economies increases per-capita GDP growth by 1.38%. He added that that APEC can benefit enormously from the diffusion of ICT products to obtain productivity gains, increase jobs and improve the quality of life for the people of the APEC economies. Neuffer also told delegates that ICT capital has seven times the impact on productivity than non-ICT capital in economies with lower levels of IT usage, and around three times more than in other economies.
Japan, host for APEC 2010, views ICT as one of the most important pillars to facilitate growth. Japan introduced the Smart ICT Application Initiative which identifies ways to share best practices, benefits and challenges faced by member economies working to employ ICT applications in socioeconomic activities.
"The Smart ICT Application Initiative addresses the challenges of logistics, the environment, public services, emergency response, healthcare, and energy," said Kejiro Suzuki, Japan's Ministry of Economy, Trade and Industry's Director of International Affairs for the Information Policy Division.
"Already, the APEC Life Sciences Innovation Forum is tackling health IT promotion in its work program," he said.
Joseph Alhadeff, Oracle's Vice President of Global Public Policy recommended that the right incentives and proper support for innovation in ICT could build capacity, support new business opportunities, expand markets and enable the delivery of the government services.
He added: "But for this to happen, you need the right regulatory environment that nurtures transparency, non-discrimination, predictability and consensus between governments."
"Even the best ideas may be squashed if the regulatory environment is not supportive and facilitating innovation." Alhadeff went on to say that all APEC fora would benefit from collaborating on the issue.
Intel's Director of Global Trade and Competition Policy, Greg Slater said: "The 2010 OECD Innovation Center offers five innovation principles, including upgrading skills; making capital available to SMEs; improving governance of research and development institutions; improving the measurement of innovation policies; and, applying innovation to social challenges especially by letting ICT disseminate at an affordable price."
"Policies can spur or hinder innovation and its diffusion. APEC should discuss how it can benefit from ongoing efforts in other fora to leverage its own initiatives," Slater concluded.
For more information please contact:
Trudy Harris: +65 9898-3710 (mobile) or , Email: th@apec.org
Michael Chapnick: +65 9647-4847 (mobile) or Email: mc@apec.org
22 September 2010
ABAC Encourages APEC SME Ministers to Improve SMME Access to Fundamental Business Resources
The APEC Business Advisory Council (ABAC) is recommending, ahead of the upcoming APEC Small and Medium Enterprise (SME) Ministers meeting from October 2-3, that regional policymakers intensify efforts to improve the access of small, medium and micro enterprises (SMMEs) to fundamental resources such as financing, information communications technologies (ICT) and human resources.
At its meeting in Bangkok in late August, the APEC Business Advisory Council (ABAC) agreed that APEC should accelerate the growth of SMMEs in the global economy, through policies to promote capacity building and financial inclusion. SMMEs make up 90% of all businesses and employ 60% of the workforce in the APEC region, yet their unique needs are often overlooked in stimulus packages, infrastructure and economic development plans.
SMME access to financing has been a perennial challenge. ABAC believes that this can be effectively addressed through the development of new and enhanced platforms for financial inclusion. To this end, it has encouraged APEC Finance Ministers to launch an initiative to improve credit information systems and legal frameworks for secured lending.
Concerning the use of ICTs by SMMEs, Fauziah Talib, Chair of the ABAC Capacity Building Working Group, says that reliable and affordable broadband access is vital to promote SMMEs adoption of more ICT applications that will increase efficiency and more importantly, connect them to markets.
A recent ABAC survey on ICT utilization identified high prices and the lack of training in broadband adoption as the top two barriers for SMMEs. The survey recommends that policymakers should focus their efforts on education measures to increase awareness among SMMEs of the benefits of broadband use and measures to lower ICT costs by increasing competitive pressures on broadband providers and providing cost incentives for SMMEs.
Another ABAC study on innovative growth models reveals the need for policymakers to focus on skills training and human resources development within SMMEs. This could be supported through “SMME market knowledge centres”, SMME training facilities and through an education framework that equips aspiring entrepreneurs with the tools to establish and grow a business.
ABAC’s call for APEC SME Ministers to implement appropriate support systems for SMME financing, ICT utilization and human resource development is based on the input it has received from SMMEs in the region through its APEC SME Summit events.
For more information, please contact:
Mr. Osamu Kamikawa, ABAC Executive Director 2010, Tel: (813) 3285 7516, Email: o.kamikawa@mitsui.com
Mr. Antonio Basilio, ABAC Secretariat, Tel: (63 2) 845 4564, Email: abacsec@pfgc.ph
Ms. Tran Bao Ngoc, APEC Secretariat, Tel: (65) 6891 9616, Email: tbn@apec.org
20 September 2010
APEC acts on forging an interconnected Asia Pacific
Sendai, Japan, 20 September, 2010 - Businesses, academics and APEC officials gathered on Monday to finalise action plans aimed at improving supply chain connectivity in the Asia-Pacific region, crucial to boosting economic growth and speeding up regional economic integration.
APEC has been developing the action plans after working with business and government sectors last year to identify eight critical chokepoints in the supply chain, relating to regulatory impediments, customs inefficiencies and inadequate transport networks and infrastructure.
The action plans are part of efforts to achieve multi-modal connectivity by air, land and sea, and to facilitate a seamless flow of goods, services and people throughout the Asia Pacific. This is part of APEC’s priority to speed up regional economic integration.
Improving overall multi-modal performance would increase intra- and extra- regional trade by up to $500 billion annually, research by APEC’s Policy Support Unit shows. Although individual transport modes are important, making them work through an efficient logistics system is vital.
“Seamless connectivity is very important to increasing economic growth and forging an interconnected region,” Elizabeth Chelliah, the Chair of APEC’s Committee on Trade and Investment told the experts gathered in Sendai, Japan.
“We will identify how to implement the ideas set out in the action plans and how to identify and measure the positive progress made in eradicating and eliminating these impediments to trade,” Ms Chelliah said.
Business and academics told the symposium, being held over two days, that disruptions to supply chain connections such as breakdowns in transport networks and unexpected changes in regulations and customs procedures lead to shipments of goods being slowed, stopped or turned around.
Paul Gray, vice president of logistics at MDS Nordion which makes medical isotopes and sterilization products, said the regulatory environment in which it operates was necessary and stringent given the radioactive nature of many of the products being shipped.
Timing in delivery of these critical products was crucial. Hence, any disruption to the supply chain “not only adversely effects our business, but more importantly it can have a significant adverse effect on those patients who are waiting for the product for diagnosis or treatment of a life threatening disease.”
The chair of APEC’s Business Advisory Council, Gempachiro Aihara, said ABAC would continue to cooperate with APEC on the issue “since a strong, smooth and improved supply chain in the flow of goods and services across borders in the region is definitely in the interests of business.”
As well as making it easier to trade across borders, improving connectivity will contribute to a more efficient supply chain, greater productivity and employment and increased personal mobility. This plays a role in achieving APEC’s new vision of balanced, inclusive, sustainable and knowledge-based growth.
For more information please contact:
Trudy Harris: +65 9898-3710 (mobile) or , Email: th@apec.org
17 September 2010
APEC releases Joint Ministerial Statement on Human Resources Development
Beijing, 17 September 2010 – At the conclusion of two days of talks, APEC Ministers Responsible for Human Resources Development released a joint statement on vigorously promoting employment and realizing inclusive growth.
In their statement, Ministers adopted the following recommendations for APEC Economic Leaders to guide the development of human resources development policies in their respective economies:
Devote priority attention to maintaining and expanding employment and adopt employment-oriented macroeconomic policies;
Improve social safety nets and reinforce social protection and employment assistance for vulnerable groups;
Enhance human capacity building and prepare the workforce to revitalize economic growth; and
Promote economic and technical cooperation in the field of human resources development among APEC economies.
The statement comes after Ministers met in Beijing under the theme “Developing Human Resources, Vigorously Promoting Employment and Realizing Inclusive Growth.”
APEC Ministers pledged to give more attention to employment intensive growth and called for consideration of policies which strengthen employability, productivity and labor force participation.
They also recognized the challenges facing member economies and the role that social safety nets play in stabilizing disruptions in the market and contributing to labor mobility and job creation.
Ministers pledged to pay particular attention to the needs of new labor entrants, vulnerable groups and the requirements of entrepreneurship training. Attention will be given to the demand for new skills. APEC economies will strengthen training programs to prepare the workforce for new jobs, particularly those opportunities presented by green growth.
Ministers agreed to carry out the Leaders’ priorities to put job creation at the heart of its economic strategy and enhance cooperation to address the social implications of globalization and advance the APEC inclusive growth agenda by improved and innovative human resources development responses and policies.
Recognizing the role that human resources development plays in achieving inclusive growth, Ministers set the priority to create more and better jobs, improve social safety nets and enhance education and training.
Ministers recognized the importance of policy coordination and agreed to convene a Human Resources Development Ministerial Meeting by 2014. They also agreed on the Action Plan and the APEC Skills Development Promotion Project as a blueprint for a multi-year program for the Human Resources Development Working Group.
Ministers’ recommendations will be submitted to APEC Economic Leaders when they meet on November 13-14 in Yokohama, Japan.
For more information please contact:
Trudy Harris: +65 9898-3710 (mobile) or , Email: th@apec.org
Michael Chapnick: +65 9647-4847 (mobile) or Email: mc@apec.org
16 September 2010
President Hu announces project to improve employment and social safety nets in the APEC region
Beijing, China, 16 September 2010 – China’s President Hu Jintao on Thursday called on APEC Ministers to develop better social safety nets as the region emerges from the global economic crisis.
President Hu made the comments when they convened at the Great Hall of the People in Beijing during the opening of the 5th APEC Human Resources Development Ministerial Meeting.
During the session, President Hu announced the launch of a project, which will strive to enhance economic and technical cooperation among APEC economies.
“Practical and win-win cooperation is essential if we, APEC member economies, are to achieve common development. We should beef up economic and technical cooperation, advance regional trade and investment liberalization, and narrow the development gap among member economies to promote common prosperity.”
“We should work more closely in employment, social security and other fields by promoting policy dialogue and experience sharing,” he continued. “We should broaden our cooperation in human resources development, build platforms for technical cooperation, and raise our cooperation level with the focus on helping developing members in human resources development.
“To this end, China has decided to launch, together with other APEC member economies, the APEC Skills Development Promotion Project.”
President Hu also discussed the importance of developing human resources in the APEC region, promoting employment and ensuring sustainable economic growth.
“To realize inclusive growth, to resolve the social issues emerging from economic development and to lay a solid social foundation for trade promotion, investment facilitation and long-term economic development are all major topics that we, the APEC member economies, need to work on together.”
“The ultimate purpose of inclusive growth is to spread the benefits of economic globalization and economic development among all economies, regions and people and to realize balanced economic and social progress through sustainable development,” said President Hu. “Our goal is greater productivity and prosperity and a better environment.
“Cooperation in the Asia-Pacific region faces unprecedented opportunities of development. We, APEC members, should work together and make the best use of this APEC cooperation platform to deepen and broaden our cooperation. Hand in hand, let’s move toward the objective of enduring peace and common prosperity for the benefit of people in the Asia-Pacific and the world at large,” said President Hu when he concluded his remarks.
An APEC Growth Strategy is being formulated to shape the region's growth following the financial and economic crisis. It will be submitted to APEC Economic Leaders in November when they meet in Yokohama for their consideration.
For more information please contact:
Trudy Harris: +65 9898-3710 (mobile) or , Email: th@apec.org
Michael Chapnick: +65 9647-4847 (mobile) or Email: mc@apec.org
16 September 2010
APEC Tourism Ministers to meet Sept 22-23
Singapore, September 16, 2010 - APEC Tourism Ministers meet in Nara, Japan, next week to address issues such as the importance of achieving sustained and balanced growth in the tourism industry in the Asia-Pacific region following the global financial crisis.
The 6th APEC Tourism Ministers’ Meeting to be held September 22-23 will discuss collaboration between APEC, the private sector and multilateral organizations to strengthen the industry, which is a major engine for growth in the region.
The industry was hit by the global financial crisis with households cutting back on travel plans and businesses reducing travel budgets. But long-term prospects for the industry remain strong.
Tourism and travel are expected to contribute 9.1 percent of total Gross Domestic Product in the APEC region in 2010, increasing to 9.7 percent in 2020, according to research by the World Travel and Tourism Council (WTTC).
Tourism and travel are also expected to directly and indirectly employ 117 million people in the APEC region in 2010 and increase to 159 million by 2020 - or contribute 8.2 percent of total employment in 2010, increasing to 10.2 percent in 2020, according to the WTTC.
Ministers at the meeting are expected to address expansion of newer forms of tourism in the region, such as medical, sports and ecotourism, and the importance of preparations in the industry for a response to future emergencies, both man-made and natural. Other issues include meeting growing demand in the industry for a range of skilled workers.
Under the theme, “Tourism for Strategic Growth in the Asia-Pacific Region,” the meeting will be chaired by Japan’s Minister of Land, Infrastructure, Transport and Tourism, Mr Seiji Maehara.
Ministers will provide an assessment of the tourism industry in their economy at the meeting, and will hear from international tourism organizations such as the APEC International Centre for Sustainable Tourism (AICST), the Pacific Asia Travel Association (PATA) and the WTTC.
Ministers will hold a press conference at the end of the meeting and release the “Nara Declaration on Tourism.” The ministerial-level meeting will follow up on recommendations made by the APEC Tourism Working Group which meets in Nara on September 19-20.
A meeting of APEC Senior Officials will also take place in Sendai, Japan, from September 15-26. All meetings will provide valuable input to the work of developing APEC’s Growth Strategy, which will be presented to APEC Leaders meeting in Yokohama, Japan in November this year.
For more information please contact:
Trudy Harris: +65 9898-3710 (mobile) or , Email: th@apec.org
9 September 2010
APEC Ministers to meet in Beijing on September 16-17
Issued by the APEC Secretariat
Singapore – Ministers responsible for Human Resources Development from APEC member economies will meet in Beijing next week to address issues such as unemployment and improving social safety nets to protect the vulnerable following the global financial crisis.
The 5th APEC Human Resources Development Ministerial Meeting will tackle the importance of achieving inclusive economic growth so that all sectors of society can share the benefits of free trade and investment and economic integration in the Asia Pacific region.
The meeting, to be held on September 16-17, will be chaired by China’s Minister for Human Resources and Social Security, Yin Weimin, and will provide valuable input to the work of developing APEC’s Growth Strategy, which will be presented to APEC Leaders meeting in Yokohama, Japan in November this year.
The Asia Pacific region is the world’s engine of growth and many member economies are leading the recovery from the global financial crisis. But common concerns remain, including the need to foster job creation, improve social protection and enhance education and training. Many member economies also face long-term challenges such as ageing populations and demands for flexible and adaptable workforces.
During the two-day meeting, Minister Yin Weimin will give a key note speech at the Great Hall of the People. Ministers from member economies will also make presentations and they are expected to adopt and release a joint statement and action plan at the conclusion of the meeting.
The meeting will be attended by Ministers responsible for Human Resources Development, officials and support personnel. The ministerial will follow a meeting of APEC HRD Senior Officials in Beijing on September 15.
For more information, please contact:
Trudy Harris, Email: th@apec.org or +65 6891 9671.
27 August 2010
ASIA-PACIFIC Business Leaders Reiterate Call For APEC To Get FTAAP Process Underway
Asia Pacific business leaders affirmed their belief that making progress on a Free Trade Area of the Asia Pacific (FTAAP) presents the best strategy for achieving regional growth that is balanced, inclusive, sustainable, innovative and secure. They called on APEC Leaders to make the necessary decisions on possible pathways to achieve a FTAAP.
The business leaders who comprise the APEC Business Advisory Council (ABAC) were meeting in Bangkok to finalize their report to APEC Leaders and prepare for their dialogue in Yokohama, in November 2010. They expressed deep concern over new forms of protectionism arising from economic instability.
“The pursuit of the Bogor Goals of free and open trade and investment have created employment and social stability and helped reduce poverty in the region. It has become imperative for APEC to give renewed commitment to achieving deeper regional economic integration in view of economic uncertainty and the resulting protectionist pressures that threaten to reverse these gains” said ABAC Chair Gempachiro Aihara. “In our view, the FTAAP is the most practical means to achieve this.”
ABAC has been advocating the concept of an FTAAP since 2004, and in 2006, APEC Leaders instructed APEC officials to examine various options for regional economic integration including an FTAAP. Since then, progress has been modest. With the Doha Round stalled and the global economy continuing to face uncertainty, the need for new impetus to regional economic integration to help economies solidify and sustain their recovery has never been greater, according to ABAC.
ABAC also concluded that accelerating the growth of SMEs and micro-enterprises through policies, which promote capacity building and financial inclusion, can enhance the quality of economic integration, considering that they make up the majority of businesses in the region. In addition, regional energy and food security need to be addressed to ensure that emerging supply and nutritional issues will not undermine APEC’s growth.
ABAC also called for APEC to review the 1994 APEC Non-binding Investment Principles and to adopt its recommendations on how to make it more effective, particular in view of the changes in the way business is conducted in the region.
About ABAC
ABAC brings together up to three business leaders from each of the APEC’s 21 economies. They provide APEC Leaders with information regarding priorities and concerns of business sector.
The third ABAC meeting was held from August 24-27 in Bangkok.
For more information, please contact:
Mr. Osamu Kamikawa, ABAC Executive Director 2010, Tel: (813) 3285 7516, Email: o.kamikawa@mitsui.com
Mr. Antonio Basilio, ABAC Secretariat, Tel: (63 2) 845 4564, Email: abacsec@pfgc.ph
Ms. Tran Bao Ngoc, APEC Secretariat, Tel: (65) 6891 9616, Email: tbn@apec.org
27 August 2010
ABAC urges continuous dialogue on financial sector reforms
Meeting in Bangkok, Thailand on August 24-27, the APEC Business Advisory Council (ABAC) expressed appreciation for APEC Leaders’ efforts on financial regulatory reform and their instructions to regulators and policy makers to continue their dialogue with the private sector on this issue at the G20, the Basel Committee on Banking Supervision (BCBS) and other fora. ABAC reiterated its view that imposing financial taxes is counterproductive and contradict APEC’s efforts to reduce transaction costs and to enhance regional financial integration. ABAC noted various important issues that remain to be discussed with policy makers and regulators, such as the capital buffer, pro-cyclicality, and incurred loss recognition, among others. ABAC also recognized that financial regulatory reform is necessary, and that global coordination as well as collective actions are important.
Various views expressed by ABAC in relation to financial regulatory reform include the following:
- Sufficient public-private dialogue should be maintained to ensure that new regulations do not harm financial intermediation and capital markets in the Asia-Pacific, which have remained relatively healthy after the crisis.
- Careful and prudent judgment should be exercised to determine the timing of introducing new regulations.
- An impact assessment should be undertaken to better understand the effects of new regulations.
- New regulations should not unfairly impose additional costs to industries and consumers as a whole.
ABAC welcomed the G20’s announcement made this June in Toronto that the new capital framework for financial institutions will be phased in over a timeframe that is consistent with sustained recovery and limits market disruption. ABAC also welcomed the BCBS’ recent decisions to consider private sector views in revisiting its definition of capital, and introduce phase-in arrangements for the leverage ratio.
ABAC members will discuss these recommendations during their dialogues with APEC finance ministers this coming November.
For more information, please contact:
Mr. Naoki Sawaoka, ABAC FEWG Lead Staffer, Tel: (813) 3240 7264, Email: naoki_sawaoka@mufg.jp
Mr. Antonio Basilio, ABAC Secretariat, Tel: (63 2) 845 4564, Email: abacsec@pfgc.ph
Ms. Tran Bao Ngoc, APEC Secretariat, Tel: (65) 6891 9616, Email: tbn@apec.org
8 August 2010
APEC formulates new Growth Strategy for region
Beppu, Japan – APEC has committed to pursuing “high quality growth” in a Statement released today at the Growth Strategy High-Level Policy Roundtable held in Beppu, Japan.
APEC’s new approach to growth reflects members’ continued belief that free and open trade and investment is still key to regional prosperity; but it also recognises that economic growth should incorporate other factors - such as environmental sustainability - that are essential to future prosperity and citizen wellbeing.
Five attributes of quality growth have therefore been selected for action, namely balanced, inclusive, sustainable, innovative and secure growth.
For the full text of the Statement click here
For more information, Please contact:
media@apec.org
16 July 2010
APEC Launches New Cross-border Data Privacy Initiative
Issued by the APEC Secretariat
Singapore – Recognising that trusted flows of information are essential to doing business in the global economy, APEC has today launched a mechanism for regional cooperation on data privacy law enforcement.
The new APEC Cross-border Privacy Enforcement Arrangement (CPEA) facilitates information sharing and cooperation between authorities responsible for data and consumer protection in the APEC region.
“The CPEA is groundbreaking,” said Colin Minihan, Chair of the Data Privacy Subgroup of APEC’s Electronic Commerce Steering Group. “It demonstrates that privacy enforcement authorities are engaging with the realities of global data flows and the associated risks of privacy violations that transcend national and jurisdictional boundaries. The CPEA reflects the commitment of APEC privacy and consumer protection authorities to work together and across borders in enforcing consumer privacy protections.”
The arrangement establishes a process under which participating authorities may contact each other for help with collecting evidence, sharing information on an organisation or matter being investigated, enforcing actions, and transferring complaints to another jurisdiction.
Privacy Commissioner of Canada, Jennifer Stoddart, said the CPEA is an important step forward in addressing new challenges for privacy in a globalised, online world. “This will help us deal with privacy concerns relating to organisations that operate in multiple jurisdictions and businesses that move personal information across borders for processing. These are increasingly common phenomena in the economy of the 21st century and we need 21st century tools to address them.”
The CPEA also encourages cooperation between privacy enforcement authorities in APEC and their international, non-APEC counterparts as the arrangement has been designed to work seamlessly with other regional and global schemes.
By providing a mechanism to help investigate and enforce privacy laws across borders, the CPEA will promote consumer trust in e-commerce which, in turn, will benefit business and trade in the Asia-Pacific. Thus, the CPEA is a key step in APEC's long-standing efforts to increase e-commerce and cross-border trade in the region.
The CPEA was developed by a volunteer group of APEC member economies - Australia, Canada, Hong Kong China, Japan, New Zealand, the Philippines, Chinese Taipei and the United States - with input from civil society and business groups. Initial participants in the CPEA are the Office of the Privacy Commissioner of Australia, the Office of the Privacy Commissioner of New Zealand and the United States Federal Trade Commission. Additional privacy enforcement authorities from APEC member economies are also expected to join.
For a Factsheet on the CPEA see: www.apec.org/apec/news___media/fact_sheets/201006cpea.html
For more information, Please contact:
media@apec.org
12 July 2010
ABAC’s Protectionism Monitoring Exercise – Request for Feedback
Following the “Survey on Trade Restrictive Measures within APEC” carried out in the First Quarter of 2010 , the APEC Business Advisory Council (ABAC) is conducting a second round of the survey for this year.
This twice-yearly monitoring exercise is part of ABAC’s continuous effort to resist protectionism by reporting on any negative business impacts which have been encountered by companies as a result of the trade restrictive measures imposed by governments.
Companies may refer to the “WTO’s Report to the Trade Policy Review Body” ,for recent updates on the general global trade environment for the period November 2009 to May 2010. Of particular interest to companies would be the list of Trade and Trade-related measures in Annex I of the report on pages 55-85.
We would like to invite companies to report on the impacts of the measures that are described in the WTO report or in any other source documents of which you are aware of. Kindly respond to us by providing your comments in the template below.
We would appreciate if you could send us your comments by 6 August 2010, to the email address: abacsg@sbf.org.sg
Please feel free to email abacsg@sbf.org.sg or call 6827 6869 if your have further queries.
|
S/N
|
Implementing economy
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Trade or other measure
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Reference
(WTO or other)
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Comment on impact
|
|
E.g
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United States
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Resumption of dairy export subsidies (Dairy Export Incentive Programme, DEIP)
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UDSA announcement of 22 May 2009
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Provides export subsidies on 92,362T of US dairy products (in response to similar EU measures announced 22 January). Reduces cost of US dairy exports under subsidy; results in lost opportunities for unsubsidised competition; lowers global dairy prices to detriment of all supplier; invites retaliatory action from EU (further DEIP announcement before end June).
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1 July 2010
APEC Launches New Statistical Database
The Asia Pacific Economic Cooperation (APEC) has launched a new statistical database - StatsAPEC, developed by the APEC Policy Support Unit. StatsAPEC provides the only consolidated source of APEC-specific data dating back to APEC’s inception in 1989. The website in now functioning and can be accessed at http://statistics.apec.org/.
StatsAPEC is made up of two databases:
The Key Indicators Database
The Bilateral Linkages Database
The Key Indicators Database includes over 120 trade, financial and socio-economic indicators, allowing for detailed analysis of trends in the APEC region. The Bilateral Linkages Database facilitates detailed analysis of trade and investment flows within APEC and between APEC and the world. Also, APEC aggregates are available for a broad range of indicators, making it easy to examine the region as a whole. APEC aggregates are a feature unique to StatsAPEC. All data can be exported to Microsoft Excel for further analysis.
For the first time, officials, researchers, students and the public at large in APEC economies will have cost-free access to an extensive database of APEC statistics. APEC hopes that this will enable them to learn more about the Asia-Pacific region. They also hope that StatsAPEC will be a useful a basis for officials in crafting briefing notes, undertaking research and developing policy.
If you have any questions or comments about StatsAPEC, you can provide comments using this link.
1 July 2010
Establishment of APEC SME Crisis Management Centre
The Singapore Business Federation (SBF) and ABAC Singapore Secretariat are pleased to inform about the establishment of the APEC SME Crisis Management Center (SCMC) and its associated activities.
The SCMC was created on 24 May 2010 to enhance the crisis management capabilities of SMEs in the Asia-Pacific region. Recently, the SCMC organized an expert team to monitor crisis and risk that may generate impacts on SME development. Starting from July 2010, the result of the monitoring will be published monthly on the “APEC SME Economic Crisis Monitor” in a form of newsletter for SMEs in the Asia-Pacific region. The Monitor contains the information that assist SMEs in identifying crisis in the earliest manner; overcoming the impacts of global economic challenges; and offering suggestions for response measures. It is open to subscription now at the website www.apecscmc.org
In 2009, Singapore held the APEC chairmanship and central to its agenda was an emphasis on inclusive and sustained growth. SBF, as Singapore’s national focal point for Business Continuity Management and the national secretariat for the APEC Business Advisory Council (ABAC), support any SME capacity building efforts as an important pillar for economies to achieve continuous growth and prosperity. SBF and ABAC Singapore believe that the “APEC Economic Crisis Monitor” is an effective and extremely timely initiative that will be beneficial to the members of the local business community.
Please visit the following websites to find out more:
SBF National BCM Programme- Click Here
APEC SME Crisis Management Centre - www.apecscmc.org
To Download the APEC Economic Crisis Monitor Flyer - Click Here
19 June 2010
APEC Energy Ministers give instructions on energy security and efficiency
Issued by the APEC Secretariat
Fukui, Japan, 19 June 2010 – In a Declaration issued today, APEC’s Energy Ministers have set down directions to advance energy security, improve energy efficiency and increase the clean energy supply in the APEC region.
New initiatives prescribed by the Energy Ministers include:
- a Collaborative Assessment of Standards and Testing (CAST) scheme to boost trade and investment in energy efficient appliances;
- a Nuclear Power Emissions Reduction Potential Study to assess the potential for nuclear power to reduce carbon emissions in interested APEC economies;
- an APEC Smart Grid Initiative to evaluate the potential of smart grids to support the integration of intermittent renewable energies and energy management approaches in buildings and industry; and
- the Low Carbon Model Town Project aimed at developing best practices to achieve low-emissions urban communities.
Additional tasks have been assigned to APEC’s Energy Working Group (EWG) including: to work with the International Energy Agency to improve the region’s oil and gas energy emergency response capacity; to contribute to initiatives that reduce energy commodity market volatility; to evaluate the potential of unconventional sources of natural gas and biofuels; and to promote the development and take-up of low-emission power sources (renewable, nuclear and fossil-fuels with carbon capture and sequestration)
Ministers have further instructed the EWG to recommend a larger energy intensity reduction target for the APEC region, given that the goal set in 2007 of a 25 percent reduction by 2030 is likely to be far surpassed.
The Declaration also reiterates APEC’s commitment to rationalising and phasing out inefficient fossil fuel subsidies that encourage wasteful consumption.
The full text of the Fukui Declaration on Low Carbon Paths to Energy Security: Cooperative Energy Solutions for a Sustainable APEC issued at the conclusion of the Ninth Meeting of APEC Energy Ministers may be accessed at:
For more information, Please contact:
media@apec.org
11 June 2010
Hong Kong, China, 11 June 2010 - Making it easier for SMEs to hire workers is key to regional economic development. This was the rationale for the "Employing Workers Seminar" held by APEC's Small and Medium Enterprises Working Group (SMEWG) in Hong Kong, China this week.
As SMEs are important drivers of regional growth, "There is a need to strike a balance between ensuring that SME employers are not overburdened by regulations, and ensuring that employees are protected", says Barry Jones, seminar organiser and Head of Division at Australia's Department of Innovation, Industry, Science and Research.
The event, targeted at the region's policy-makers, is the seventh in a series of capacity building seminars aimed at helping APEC economies improve their competitiveness based on the World Bank's 'Ease of Doing Business' indicators.
Peru was presented as a case study for other APEC members to consider as its ranking under the 'employing workers' indicator has climbed 49 places between 2009 and 2010.
In recent years Peru has undertaken labour reforms including modifying taxation and superannuation arrangements to reduce the cost of doing business and the cost and complexity of employing workers. Progress in these areas has in turn contributed to improvements in economic performance. Since 2007, Peru experienced an average growth rate of nine percent, the highest of any Latin American economy.
"To achieve such improvements, APEC economies need to learn from each other's experiences and to find out which approaches work and which don't, and to keep on striving towards best practice," says Jones. Jones believes APEC is particularly suited for this task because it provides the platform for a wide range of economies with different circumstances and stages of development to come together to share lessons learnt.
In APEC, SMEs account for around 90 percent of all business and employ as much as 60 percent of the region's work force. The SMEWG continues to encourage the development of SMEs and to build their capacity to engage in international trade.
For more information, Please contact:
media@apec.org
6 June 2010
APEC Trade Ministers issue Statements on concluding Doha and securing economic growth
Issued by APEC Secretariat
Sapporo, Japan, 6 June 2010 - In a Statement issued today, at the close of two-day talks, APEC Ministers Responsible for Trade address:
The state of the global economy
Members' progress in achieving APEC's Bogor Goals of free and open trade
Advancing regional economic integration, including exploring possible pathways to a Free Trade Area of the Asia Pacific
Formulating a growth strategy for the region that achieves balanced, inclusive, sustainable, innovative and secure growth
Promoting human security to ensure resilient and secure economies
The Meeting of APEC Ministers Responsible for Trade, Statement of the Chair (Sapporo, Japan, 5 - 6 June 2010) may be accessed at:
The Ministers have also issued a separate Statement extending APEC's standstill on protectionism until 2011, and expressing members' commitment to the multilateral trading system and their determination to bring the Doha Development Agenda to a successful conclusion.
The Statement on Supporting the Multilateral Trading System and Resisting Protectionism (Sapporo, Japan, 5 - 6 June 2010) may be accessed at:
For more information contact:
Linda Carroll at lac@apec.org or +65 9647 4847
6 June 2010
APEC helps business take advantage of FTAs
Issued by APEC Secretariat
Sapporo, 6 June 2010 – APEC has today launched a new gateway to tariff and rules of origin information to help alleviate the ‘noodle bowl’ effect created by free trade agreements.
APEC’s 21 members account for around 44 percent of world trade, and have concluded over 40 intra-APEC free trade agreements (FTAs); however businesses often don’t take full advantage of these special trading arrangements because information on preferential tariffs and rules of origin (ROO) can be difficult to find.
“Business has told us that a lack of customs transparency is a major impediment to trade. APEC’s new web-based gateway helps lift this barrier by providing businesses with the information they need to better leverage the trade opportunities that exist in the region”, says Dr. Akihiko Tamura, Convenor of APEC’s Market Access Group.
The information now available includes current MFN tariff rates, preferential tariff rates and preferential ROOs in APEC member economies’ FTAs and regional trade agreements.
Says Dr. Tamura, “This initiative is an example of how information sharing in APEC and being responsive to the practical needs of business can help grow trade and prosperity in the Asia-Pacific”.
Since APEC was established, member economies’ total trade has increased six-fold, from US$3 trillion in 1989 to US$17 trillion in 2008 .
The gateway can be found at:
For more information, Please contact:
media@apec.org
APEC's 21 member economies are: Australia; Brunei Darussalam; Canada; Chile; People's Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Republic of the Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand;
Viet Nam;United States of America;
3 June 2010
Seamless transport could increase trade by billions
Issued by the APEC Secretariat
Sapporo, Japan, 3 June 2010 - Improving overall multimodal performance would increase intra- and extra-regional trade up to $500bn annually, says a report* exploring the potential impact of enhanced multimodal connectivity in APEC.
The report comes in the run-up to a meeting of APEC Trade Ministers this weekend and draws from analysis of air, land, and maritime transport, as well as logistics performance, to capture an economy's ability to manage complex multimodal linkages.
According to the report, while individual transport modes are important, making them work together through an efficient logistics system is even more important. Moreover, while the benefits of transport efficiency would be most visible in consumer goods, every sector performs better in direct relation to transport connectivity and efficiency.
The report therefore recommends that:
Investment in trade- and transport-related infrastructure development and maintenance should remain a priority for APEC member economies. Regional or sub-regional collaboration may be appropriate.
Regulatory reform based on cost-benefit analysis can help increase connectivity and improve the quality of service provision in vital areas, such as transport logistics.
The private sector should be engaged as a partner in infrastructure development and regulatory reform. Development of private sector competence in areas such as logistics should remain a key priority for member economies.
According to Dr. Ben Shepherd, lead author of the report, these observations are particularly important for developing member economies. Achieving the right balance between infrastructure investment, maintenance, and private logistics sector development remains crucial to enhancing overall competitiveness and boosting trade performance. Moving forward on all fronts simultaneously is likely to bring the greatest rewards.
The study was commissioned by APEC's Committee on Trade and Investment which is tackling chokepoints in the regional supply chain. It was undertaken by the APEC Policy Support Unit which conducts research and analysis to better inform policy-makers. To access the entire report, go to :
For more information, contact:
media@apec.org
*The Economic Impact of Enhanced Multimodal Connectivity in the APEC Region, APEC Policy Support Unit, June 2010
3 June 2010
APEC Trade Ministers review progress on free trade
Singapore, 3 June 2010 – APEC Trade Ministers are set to review members’ progress in achieving regional free trade goals; and will receive an update on global trade negotiations from the World Trade Organisation’s Director-General, Mr Pascal Lamy.
The meeting of Asia-Pacific Trade Ministers will be held in Sapporo, Japan on 5-6 June and will conclude with a press conference on 6 June.
In 1994 APEC set the ‘Bogor Goals’ of free and open trade and investment by 2010 for industrialised members and by 2020 for developing members. Trade Ministers will now discuss members’ progress based on an interim assessment report which combines input from: member economies, the APEC Business Advisory Council and relevant international organisations.
Existing figures show that substantial progress has already been made. Average tariffs in APEC member economies are now more than 60 percent lower than when APEC was established in 1989.
Mr Lamy will brief Trade Ministers on progress in the Doha Development Agenda (DDA) negotiations and on the WTO’s efforts to monitor and counter protectionism. APEC Trade Ministers will then discuss how to give impetus to the DDA and maintain APEC’s standstill against protectionism.
Trade Ministers will also focus on APEC’s key agenda items for 2010. They will consider ways to accelerate regional economic integration, including possible pathways to a Free Trade Area of the Asia-Pacific. In addition, the Ministers will review APEC’s work to formulate a new Growth Strategy for the region that achieves more balanced growth, attains greater inclusiveness in societies, better sustains the environment, and raises growth potential through innovation.
The meeting of Trade Ministers will be preceded by meetings of APEC Senior Officials and working level groups from May 24 to June 4.
For more information, contact:
media@apec.org
1 June 2010
Businesses have 5 recommendations for APEC Trade Ministers
Issued by the APEC Secretariat
Sapporo, Japan, 1 June 2010 – As Trade Ministers from across APEC prepare for their annual meeting later this week, the APEC Business Advisory Council (ABAC) has delivered a set of five recommendations, with the intent that they be taken to APEC Leaders. These are:
Recommendation 1: ABAC recommends that Leaders should re-commit to achieving free and open trade within the APEC region. Taking account of the fundamental changes in APEC’s economic and social structures over the last sixteen years, and the fact that we are now in the era of the post-industrialized knowledge-based economy, ABAC recommends that a new vision is needed, building on the Bogor Goals to reflect the changing nature of modern Asia Pacific regional supply chains and value chains. This vision should seek to liberalize flows of goods, services, investment, technology, e-commerce and people; and have a strong emphasis on balanced and inclusive growth and sustainable development.
Recommendation 2: ABAC recommends that Leaders agree that a Free Trade Area of the Asia-Pacific (FTAAP) is an aspirational but achievable vehicle for delivering free and open trade and investment within the region. ABAC is seeking from Ministers greater detail on the modalities and processes towards an FTAAP to enable active involvement by the business community.
Recommendation 3: ABAC recommends that Leaders recognize the importance of existing and progressing regional trade arrangements such as the Trans-Pacific Partnership, ASEAN+1, ASEAN+3, ASEAN+6 and CEPEA as potential pathways to delivering an FTAAP. As these existing arrangements evolve, they should draw on previously developed APEC model FTA chapters covering goods, services and investment and other new business requirements to guide their progress. ABAC further requests that Leaders of economies engaged in evolving regional arrangements direct their officials to share knowledge and substance about their respective negotiations in a timely and transparent fashion, while respecting the negotiating sensitivity of some issues.
Recommendation 4: ABAC recommends that as a new vision for APEC is developed, the business community is closely engaged so that policy makers draw on business leaders’ expertise in identifying practical initiatives and proposing workable solutions. ABAC recommends that the links between the APEC Senior Officials’ Meeting and ABAC processes be better defined and integrated.
Recommendation 5: ABAC recommends that as part of achieving the Bogor Goals or a new vision, Leaders direct the APEC Secretariat to develop an annual set of ‘Regional Integration Metrics’ to monitor each economy’s progress towards greater regional economic integration and inclusive growth. Such indicators are essential for benchmarking performance and creating accountability from Leaders. ABAC recommends the creation of a one page “Regional Integration Dashboard” for each economy showing the level and change in various indicators of liberalization, including but not limited to, the flows of goods, services, investment, technology and people.
In fact, a key component of ABAC’s 2010 agenda is an assessment of APEC members’ achievement of the Bogor Goals* from the business perspective. Last week, in a letter to Trade Ministers, ABAC members explained that:
“ABAC’s own review clearly identifies that many member economies have become considerably more open since 1994. Industrialized economies have made significant steps towards becoming more free and open, a trend apparent among developing economies as well.”
While the global economy has evolved considerably since 1994, ABAC cites a need to increase efforts toward deeper regional economic integration…
“More needs to be done to achieve the goal of free and open trade and investment in the APEC region. This needs to encompass trade in goods, services, investment, ideas and the movement of people…. Trade and investment facilitation are also essential tools to enhance economic growth.”
ABAC includes representatives from the business communities in each of APEC’s 21 member economies. These representatives are appointed by APEC Leaders as a source of insight to the priorities and concerns of the business sector.
APEC Ministers Responsible for Trade (MRT) are to meet in Sapporo, Japan, 5 – 6 June.
*In 1994 in Bogor, Indonesia, APEC Leaders committed to the goals of free and open trade and investment in the region by 2010 for industrialized members and by 2020 for developing members.
For more information, contact:
media@apec.org
29 May 2010
Russia joins the APEC Business Travel Card Scheme
Issued by the APEC Secretariat
Sapporo, Japan, 29 May 2010 – The APEC Business Mobility Group announced today that the Russian Federation has been accepted into the APEC Business Travel Card (ABTC) scheme as a transitional member. This means that all of APEC’s 21 members now participate in the scheme.
“This is a historic occasion for APEC and the ABTC, as Russia’s membership completes the circle. The ABTC is one of APEC’s great success stories: it contributes to APEC’s goal of free and open trade and investment in the Asia-Pacific, and shows how practical cooperation can be achieved,” said Mr Stephen Allen, Chair of the APEC Business Mobility Group which oversees the scheme.
At the official membership ceremony, Mr Vladimir Kristov from the Ministry of Foreign Affairs of the Russian Federation described the significance of the occasion: “This is a marvellous event for Russia and for the region. We can all now use the ABTC as a platform for great business opportunities, and increase the linkages between our economies”.
The ABTC facilitates business travel in the Asia-Pacific by allowing cardholders:
Pre-cleared immigration entry into the 18 fully participating member economies*, eliminating the cost and time involved in obtaining visas.
Expedited transit through special fast-track lanes at major airports and seaports in all 21 economies.
Over 80,000 active cardholders now enjoy these benefits, and the APEC business community’s interest in the scheme continues to grow. Figures to-date in 2010 show applications are up 27 percent on the same period last year.
As of April 2010, Russia has been providing fast-track ABTC lanes at its international airports and seaports; and it will announce procedures for its citizens to apply for the card in due course. As it is a transitional member, all ABTC cardholders entering Russia will still have to obtain a visa (unless otherwise exempt under Russian legislation or international arrangements). However, visa applications from ABTC cardholders will be given priority.
Under existing bilateral agreements, Russia is able to provide full ABTC benefits to applicants holding ordinary passports from Hong Kong-China and Thailand for stays of up to 14 days and 90 days respectively. Applicants from 16 other economies - Australia, Brunei Darussalam, Chile, China, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Singapore, Chinese Taipei and Viet Nam - can currently receive multiple entry visas at Russian Embassies or Consulates.
Pre-clearance of Russian citizens by other economies will be possible once Russia is able to offer reciprocal arrangements to those economies.
*The 18 fully participating members are: Australia; Brunei Darussalam; China; Chile; Hong Kong, China; Korea; Indonesia; Japan; Peru; Philippines; Malaysia; Mexico; New Zealand; Papua New Guinea; Singapore; Chinese Taipei; Thailand; and Viet Nam. The 3 transitional members are: Canada, Russia, United States.
For more information, contact:
media@apec.org or
lac@apec.org
To learn more about the ABTC scheme, go to http
Have your say by emailing us at abacsg@sbf.org.sg.
27 May 2010
Businesses call for measures to address energy security in APEC
Issued by the APEC Secretariat
Chinese Taipei, 27 May 2010 - Recent turmoil in global energy markets underscores “the continuing challenges we face in strengthening energy security throughout the Asia Pacific,” says the APEC Business Advisory Council (ABAC).
In a letter to APEC Energy Ministers, ABAC - a group comprising some of the most respected business people from throughout the Asia-Pacific - makes very specific recommendations as to how these challenges might be addressed. Excerpts follow:
ABAC strongly recommends continued engagement between governments and the private sector… This is important as the private sector, including energy producers, transporters, financers, and consumers as well as relevant NGOs, provide essential perspective on the real impact of proposed policy and regulatory measures on actual markets, consumption patterns and productivity.
In 2008, ABAC sponsored publication of the Strategic Framework for Energy Security in APEC, a document designed to guide APEC’s energy security work. From our perspective much remains to be done to implement many of the recommendations contained in this document.
In the near term, we encourage APEC governments to focus on improving efficiency and conservation as a cost effective approach that can be broadly applied across the spectrum of supply and demand. Expansion and diversification of energy resources remains an important piece of any comprehensive energy security approach. APEC should work to secure wider use of low-carbon fossil fuels, including promoting the use of natural gas and development of gas transport infrastructure.
Nuclear energy is appropriate for many economies as a low emissions source of power generation. ABAC supports consideration of nuclear energy and studies into its feasibility in APEC individual economies.
We recommend Ministers undertake to study the possibility of establishing an APEC or Asian futures market in gas.
A comprehensive approach must include efforts to manage demand through conservation and efficiency efforts. This should include emphasis on improving the energy efficiency of power plants, promoting conservation and efficiency in buildings, and development of a common labelling system to promote dissemination of energy efficient products, including home appliances and IT products.
It is important to prioritise development of standard metrics to assess efficiency, preferably by sector, to assist in measuring progress and quantify results. We encourage Ministers to commit to establishing an APEC-wide common understanding of terminology, standards and best practices for measuring efficiency. Eliminating distortions and promoting efficiencies in energy markets must also be a cornerstone of a strategic approach to improving energy security. Recognising that in a group as diverse as APEC, complete harmonisation of standards is very difficult, we feel that in the near term, a focus on transparency and information sharing in this area may be a more practical goal.
Expanded emphasis on developing “clean” energy and promoting innovation in energy and related technologies is a final core pillar to a complete APEC energy security approach. Such development must involve close cooperation with government through public-private partnerships and regulatory framework that encourages private sector investment.
APEC economies should complement UNFCCC principles and processes by endorsing the development of an APEC Low-Carbon Pathfinder Scheme. The Scheme would be based on the successful APEC formula of voluntary, non-binding, open regionalism. Under such a Scheme, low-carbon policy measures by each APEC economy would be systematically and transparently prioritised and reviewed, with reports published annually or biennially so as to share experiences with other APEC economies.
APEC must continue to recognise that regional energy security strategies must be developed and implemented in the context of the overall global energy security situation. As such, relevant APEC agencies and sub-fora should coordinate closely with energy-related international organisations to ensure synchronicity of effort and maximise the potential for collaborative progress.
The letter is signed by ABAC 2010 Chair, Gempachiro Aihara, on behalf of the group.
For more information, contact:
mitsuiabac@mitsui.comor
media@apec.org
Have your say by emailing us at abacsg@sbf.org.sg.
21 May 2010
Business Seeks New Vision For Economic Integration In APEC
Business leaders from the APEC region who comprise the APEC Business Advisory Council (ABAC)
meeting in Taipei, Chinese Taipei expressed concern over the crisis currently emerging in Europe and
issued their findings and recommendations on the progress of the Bogor goals.
ABAC called on economies to be prepared to take quick and coordinated action should the crisis in
Europe persist and spread toward the APEC region.
ABAC commissioned a review of the progress towards the Bogor goals of free and open trade and
investments in the Asia Pacific region and has concluded that member economies both developed and
developing have become considerably more open since their adoption by APEC Leaders in 1994.
However, the changing nature of global business requires that more needs to be done to promote
deeper market integration if these goals are to be realized.
"Sixteen years after the groundbreaking and ambitious creation of the Bogor Goals, it is undeniable
that its underpinning principles have delivered some very positive achievements for APEC economies.
However, the world has changed and APEC needs a renewed focus on removing barriers to deeper
integration and deliver stronger business growth." said ABAC Chair Gempachiro Aihara.
ABAC called for a new vision for economic integration that takes into account the evolving nature of
global business particularly regional supply chains and value chain in the Asia Pacific region. The vision
should hence encompass not just liberalizing the flow of goods but also of services, investments, ideas
and of people. This new vision should be underpinned by a strong emphasis on balanced and inclusive
growth and sustainable development and taking into account the needs of small and medium
enterprises as well as microenterprises.
ABAC continues its call for the establishment of an FTAAP which appears to be the most viable
concept for achieving economic and market integration in the Asia Pacific. It called for APEC
Ministers to provide greater detail on the modalities and process toward a FTAAP to enable the
business community to be more actively involved in its evolution.
ABAC will put forward their recommendations to Leaders on the way forward for APEC during their
meeting with Ministers Responsible for Trade which will take place on 5-6 June 2010 in Sapporo,
Japan.
About ABAC
ABAC brings together up to three business leaders from each of the APEC's 21 economies. They
provide APEC Leaders with information regarding priorities and concerns of business sector.
The second ABAC meeting was held from May 17-21 in Taipei.
For more information, please contact:
Mr. Osama Kamikawa, ABAC Executive Director 2010, Tel: (813) 3285 5857,
Email: o.kamikawa@mitsui.com
Mr. Antonio Basilio, ABAC Secretariat, Tel: (63 2) 845-4564,
Email: Email: abacsec@pfgc.ph
Ms. Tran Bao Ngoc, APEC Secretariat, Tel: (65) 6891 9616,
Email: tbn@apec.org
Have your say by emailing us at abacsg@sbf.org.sg.
6 May 2010
Economic growth, sustainability on-going priorities for Tourism Working Group
Lombok, Indonesia, 6 May 2010 - Re-energizing the work that supports Leaders' directions will be a major focus for APEC's Tourism Working Group as it embarks on drafting a Strategic Plan for the Group.
The TWG agreed to identify interest areas with a view to initiating a strategic approach to facilitate the development of the travel and tourism industry in the Asia-Pacific region. Top priorities are to develop better communication with private and business sector, strengthen multilateral engagement and to increase work on cross cutting issues within other fora.
The Group discussed the issues associated with APEC's Growth Strategy and other 2010 priorities as a means to develop concrete recommendations and achieve a robust outcome for the forthcoming 6th Tourism Ministerial Meeting.
Economic growth and sustainability have been on-going priorities for the Tourism Working Group.
According to the World Travel and Tourism Council, the industry accounts for one in every 13.1 jobs in the world and the ratio is projected to increase in the immediate term. Moreover, APEC members have recognised community-based tourism as a way to increase the flow of revenue from urban centres to rural areas.
In 2008, Tourism Ministers agreed to promote the conservation and preservation of the environment and sustainability has been a predominant feature on the TWG agenda since then.
2010 Tourism Working Group projects include promoting the involvement of local communities in managing rural tourism and the use of clean technologies as a source of energy for hostels.
Source: APEC Secretariat
For more information, contact:
media@apec.org
5 May 2010
Solicitation of Interest to Participate in Pilot APEC Tariff Database Project
The APEC Business Advisory Council (ABAC) is proposing to launch an APEC-wide customs and tariff database, as part of plans to facilitate and increase the utilization of bilateral and multilateral FTAs among businesses in the APEC region.
APEC, a grouping of 21 economies*, have agreed to make their customs and tariff information more transparent and available to the public. This is in response to calls from businesses that customs transparency, or rather the lack thereof, is a major impediment to doing business in the APEC region. The lack of readily available information regarding applied tariff rates, rules of origin and the details regarding various regional, bilateral and multilateral trade preference arrangements negotiated among various APEC members makes it difficult for companies to take full advantage of the trade liberalization carefully negotiated by governments throughout the region.
ABAC hopes to develop a next-generation APEC tariff database that is intended to be a one-stop shop for exporters and importers within APEC to obtain tariff and preference information that is timely, current, commercially-relevant and accessible to all businesses. A pilot database will be launched to obtain feedback and input from companies of all sizes (including SMEs) and all APEC economies on depth and breadth of information available, functionality and ease of use.
We would like to invite companies to participate in this pilot project. For interested parties or those who want to find out more information about the project, kindly provide us with your name, designation, company profile and contact details to abacsg@sbf.org.sg. We would ideally like to attract the participation of a minimum of 20 companies to begin with.
More information on this project may be found HERE
* APEC's 21 Member Economies are Australia; Brunei Darussalam; Canada; Chile; People's Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Republic of the Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America; Viet Nam.
20 April 2010
Launch of APEC CEO Summit 2009 Special Report
The APEC CEO Summit 2009 Organising Committee is pleased to announce that, in partnership with the Singapore Institute of International Affairs, we have compiled an APEC CEO Summit 2009 Special Report consisting of summaries of all the Summit's sessions.
We are pleased to extend to the public, a copy of the APEC CEO Summit 2009 Special Report for their reference. You may download the Report by clicking HERE
SBF and the ABAC hope that you will enjoy reading this Special Report as you did enjoy attending the Summit.
Have your say by emailing us at abacsg@sbf.org.sg.
24 March 2010
Survey on Supply Chain Chokepoints in the Asia Pacific Region
The APEC Business Advisory Council (ABAC) Singapore is conducting a feedback exercise on chokepoints in the supply chains within the Asia Pacific region.
The Asia Pacific Economic Cooperation (APEC) in 2009 established the Supply-Chain Connectivity Framework to (i) identify chokepoints in the existing supply-chain networks and (ii) identify work streams that would address these chokepoints. To find out more about the Framework, please refer to the attached document Here
Eight chokepoints to the smooth flow of goods, services and business travellers throughout the APEC region have been identified. The next phase of the Framework would be to identify which of the 8 chokepoints would be of priority for APEC to improve on.
ABAC Singapore is conducting an exercise to collect feedback from Singapore companies on these 8 supply chain chokepoints. The aim of this survey is to (i) rank the 8 chokepoints in terms of importance (1 being most important, 8 being least important) and (ii) gather solutions and suggestions that will enable governments to improve on these chokepoints.
We would like to invite you to fill up the attached feedback form with your rankings and suggestions. Your valuable feedback would enable us to put forth a strong case to push for greater improvements in the supply chains across the region.
click here to download feedback form
Please do not hesitate to contact ABAC Singapore if you need more information pertaining to the Supply-Chain Connectivity Framework.
Kindly forword the feedback form to abacsg@sbf.org.sg with your inputs by 9 April 2010.
Have your say by emailing us at abacsg@sbf.org.sg.
3 March 2010
Small reforms make big sense
Issued by the APEC Secretariat
Hiroshima, Japan, 3 March 2010 - The number of days it takes to start a business can have a direct impact on economic growth, says the World Bank.
According to Yara Salem, Private Sector Development Specialist at the World Bank, simple streamlining of processes can have a dramatic impact on economic performance:
"On average, reducing business-related processes by ten days leads to a 0.4 percent economic growth. For some it is even more. For Singapore, reducing the cost of starting a business has increased economic growth by about one percent and for Peru by 2.57 percent."
In addition, she says, making it easier to start a company can also have a positive impact on employment. She notes, as an example, the dramatic 28 percent increase in the number of businesses registered in Viet Nam following reforms in 2005.
Of course, economies should not stop at registration processes. The benefits of one-dimensional reform are easily undone. Salem specifies that to achieve enduring results demands coordination among institutions:
"You don't want people just to register businesses. You also want them to pay taxes, protect workers and know about the services that exist to help them. You want to analyse the results and monitor them."
Mexico is an excellent example of an economy that has created a synergy among agencies so that businesses can follow procedures at a "one-stop shop." A reduction of red tape has led to a five percent increase in newly registered companies and employment growth of almost three percent.
According to Salem, the five most important things that economies can do to increase the ease of establishing a business are:
- Provide one-stop shop service: reduce the number of offices a business must visit to establish itself legally.
- Simplify registration formalities: make the process easier and make it purely administrative.
- Introduce or improve online processes so that they are interlinked.
- Simplify post-registration procedures at local levels.
- Abolish minimum capital requirements.
Only five out of APEC's 21 members maintain minimal capital requirements for starting a business and APEC economies account for five of the ten world economies in which it is easiest to start a business. These economies have standardised forms that are simple and in which answers are not subject to interpretation. Registration fees are fixed and there is a very simple publication requirement to announce the creation of new companies.
These topics were discussed by regional policy-makers and international experts at this week's Ease of Doing Business Seminar, organised by the APEC Economic Committee.
As per the direction of APEC Leaders, economies are developing strategies for growth that is balanced, inclusive, sustainable and knowledge-based. Specifically, they aim to create conditions that are conducive to business and which, by extension, lead to increased employment and economic growth. Trade facilitation is one of APEC's fundamental goals and APEC economies continue to address barriers to trade, including the time, cost and frustration associated with starting and operating a business.
For more information, contact:
Carolyn Williams at (65) 9617 7316 or at cdw@apec.org
Linda Carroll at (65) 9647 4847 or at lac@apec.org
Have your say by emailing us at abacsg@sbf.org.sg.
23 February 2010
The first APEC Senior Officials' Meeting (SOM1) in Hiroshima, Japan
The first APEC Senior Officials' Meeting (SOM1) was held on February 22 and 23 in Hiroshima City. Mr. Shigeru Nakamura, Ambassador for International Economic Affairs, Ministry of Foreign Affairs, and Mr. Hidehiko Nishiyama, Director-General for Trade Policy, Ministry of Economy, Trade, and Industry, chaired the meeting and twenty-one member economies attended the meeting.
Outline
1. Regional Economic Integration (REI)
Japan, as Chair, presented and discussed drafts on the following key areas.
a. An active exchange of views took place regarding the assessment of achievement of the Bogor Goals (*1). Many economies expressed the view that the assessment should be highly credible and thorough, and that it should illustrate APEC's achievements so far. Based on this discussion, it was confirmed that the assessment process will continue through work to develop a draft assessment report. Korea announced its intent to participate in the assessment process this year. Including Mexico, which had announced its participation prior to SOM1, currently, eleven economies (*2), will be the subjects of the assessment process.
b. Possible Pathways to an FTAAP (Free Trade Area of the Asia-Pacific) were discussed. Several economies presented on the various regional efforts in which they are involved. It was confirmed that follow up discussions will be held and that results will be reported at this year's APEC Economic Leaders' Meeting (AELM).
c. Based on a presentation by Japan, discussions were held regarding (i) Accelerating Regional Economic Integration; (ii) Improving the business environment; and (iii) Promoting regional connectivity and trade facilitation. It was confirmed that these areas will be important elements in further discussions on REI, and that APEC will aim for more concrete results.
*1. Bogor Goals: In 1994, in Bogor, Indonesia, the AELM Declaration held forth the goal that industrialized economies by 2010 and developing economies by 2020 would achieve the goals of free and open trade and investment.
*2. Economies subject to Bogor Goals assessment in 2010 include: Japan; United States; Canada; Australia; New Zealand; Singapore; Chile; Hong Kong, China; Peru; Mexico; Korea (Underlined economies denote developing economies which voluntarily participate to be assessed.)
2. Growth Strategy
Japan explained the basic outline of the Growth Strategy, which consists of the following main elements: "Balanced Growth", "Inclusive Growth", "Sustainable Growth", and "Knowledge-based Growth". This topic will be important as each economy considers its post-financial crisis growth, so discussions will be deepened, centered on identifying specific projects.
3. Human Security
Officials discussed each field related to Human Security, beginning with food security, countering infectious disease, counter-terrorism, and disaster preparedness. Interest was high particularly regarding food security, and it was confirmed that efforts would be further strengthened in this area.
4. Economic and Technical Cooperation
Japan's proposal on strengthening and rationalizing economic and technical cooperation activities was formally endorsed, and agreement was reached on the medium-term priorities for these activities. Officials confirmed that APEC will implement activities that are more focused and effective.
5. APEC Reform
Officials agreed to proceed with further deliberations, including from an organizational perspective, in order to reconstruct the meaning of APEC as a framework that can respond to new issues facing the international and regional economy.
Evaluation
This was the first formal public meeting hosted by Japan as chair of APEC 2010. Each economy actively contributed to the development of the discussion, including the drafts Japan prepared for the meeting, and explored the direction to proceed in. Each economy expressed high regard for Japan's efforts and preparations in each area and confirmed intentions to accelerate their work under Japan's initiative. Member economies will continue deliberations and work based on this meeting's discussions to produce specific results in each field aimed at the Ministerial Meeting and Leaders' Meeting in November.
In conjunction with this meeting, "2010 APEC Junior Conference in Hiroshima" was held. Hiroshima City, Hiroshima Prefecture, and local businesses also offered their cooperation, contributing to the success of SOM1.
Ministry of Foreign Affairs and
Ministry of Economy, Trade and Industry
Japan
Have your say by emailing us at abacsg@sbf.org.sg.
19 February 2010
Market integration key to recovery
Issued by the APEC Secretariat
Tokyo, Japan, 19 February 2010 - To attract investors, economies have to think big. Economic sovereignty, say experts, is fast becoming a myth: we are now interdependent.
At their first meeting this year, APEC Senior Finance Officials considered ways to achieve new growth that is balanced, inclusive and sustainable. In dialogue with experts from the International Monetary Fund, the World Bank and the Asian Development Bank, delegates considered the challenges and opportunities in developed and developing economies.
If economies are to maintain the momentum of a relatively quick recovery, greater regional integration will be a major defining factor. This is particularly true for developing economies.
Explains Srinivasa Madhur, Senior Director, Office of Regional Economic Integration at the Asian Development Bank: "In general, Asian economies need to strengthen domestic consumption and increase investment."
However, he points out, middle income economies find themselves in a particular dilemma: "They experience pressure from below and above. Lower income economies offer cheaper goods and services; and higher income economies offer better goods and services." Add to that dynamic "low levels of investor confidence which can lead to a downward spiral."
According to the Asian Development Bank, economic communities are the way forward. Acting as a community both reduces economy-specific risks and increases opportunities for investors. "The investor doesn't want to see ten tiny markets. He wants one large production base. The size of the market will be much bigger, much more attractive."
"When we speak of Asian integration," says Mr. Madhur, "we mean regional-integration and global connection. APEC provides a platform for all of this to happen."
The comparatively swift recovery of the Asia-Pacific is largely attributable to unprecedented levels of cooperation among governments.
Other areas to be discussed throughout the year include aging and fiscal sustainability; green growth; and micro-finance. Outcomes will inform recommendations to be brought to APEC Leaders in November this year.
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12 February 2010
APEC Business Leaders Focus On Solidifying Long Term Growth
Against the background of improved economies and financial markets, APEC and the global economy should avoid the mistakes of the past in order for this nascent recovery to be solidified, says the APEC Business Advisory Council (ABAC).
"Although we began the year with a more favourable economic environment, compared to where we were last year, significant challenges remain. We need to work hand in hand with our governments to ensure that our economies continue to move on the path of growth and that growth will not be derailed" said ABAC Chair Gempachiro Aihara. "We need to be careful not to recreate the same conditions that led to the recent crisis which was characterized by lax regulatory environment and unbalanced growth policies."
To read the full media release, please
click here.
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Have your say by emailing us at abacsg@sbf.org.sg.
5 January 2010
Survey on Trade Restrictive Measures Within APEC
The APEC Business Advisory Council (ABAC) had devoted a significant amount of its work in 2009 to address the concerns of increased protectionism around the world that surfaced as a result of the onset of the global economic recession. In a bid to keep regional markets free and open, ABAC had submitted its views and recommendations to APEC Ministers and Leaders, on the severe impact of protectionist measures initiated by APEC# member economies in the past year. These inputs were drawn from business and industry sources across the Asia-Pacific region, providing anecdotal accounts of how trade restrictive measures had affected them. APEC Leaders had subsequently in their 2009 declaration stated that they will regularly review their adherence to keeping markets open.
In 2010, ABAC hopes to institutionalize the practice of providing timely and effective inputs to governments on the impacts of trade restrictive measures, through the process of gathering feedback from regional business and channeling the sentiments of the business community at the respective APEC fora. ABAC would therefore like to commence another round of feedback collection, to seek inputs on any negative (or positive) impacts of trade restrictive measures – both new and existing - that businesses may have encountered.
The feedback received will strengthen the anti-protectionist stance of the business community and serve as a reminder to APEC governments to uphold their commitments to free trade. We therefore encourage you to share your voice against protectionism by filling in the table below, to reflect the impacts of different trade measures on your business.
For your reference, we have attached a list of trade and trade-related measures within the APEC economies for the period October 2008 to October 2009 which was compiled by the WTO, which you may like to comment on, in addition to other examples that your business may have encountered. Please kindly send us your comments by 15 January 2010, to the email address: abacsg@sbf.org.sg.
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S/N
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Implementing economy
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Trade or other measure
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Reference
(WTO or other)
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Comment on impact
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E.g
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United States
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Resumption of dairy export subsidies (Dairy Export Incentive Programme, DEIP)
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UDSA announcement of 22 May 2009
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Provides export subsidies on 92,362T of US dairy products (in response to similar EU measures announced 22 January). Reduces cost of US dairy exports under subsidy; results in lost opportunities for unsubsidised competition; lowers global dairy prices to detriment of all supplier; invites retaliatory action from EU (further DEIP announcement before end June).
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For further clarification or assistance, please kindly contact Mr Alvyn Lim (abacsg@sbf.org.sg) or +65 6827 6869.
We thank you for your kind attention and valuable contribution.
# The 21 APEC economies are Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, United States and Viet Nam.
Have your say by emailing us at abacsg@sbf.org.sg.
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