APEC Support Fund Update
By supporting developing economies through the sponsorship of capacity building exercises, APEC members gain more than just highly qualified trading partners. APEC builds lines of communication and trust across the region to ensure economic and health security for all its members.
With 12 projects approved since the fund was created, the APEC Support Fund has committed to distributing close to US$750,000. Projects address diverse concerns such as energy, human resources development, marine resource conservation and small and medium enterprises.
The fund is also supporting projects that would help economies build defenses to enhance human security and to protect against an influenza pandemic. Chinese Taipei earmarked its recent US$1 million contribution to provide for health and energy security, combat terrorism and prepare for emergencies. The ASF funded a recently completed project that helped APEC economies coordinate their efforts in the fight against emerging infectious diseases. The project was also designed to promote cooperation among APEC members to facilitate the establishment of a mutual technical assistance and information sharing mechanism, so as to improve the members' capacity in responding to emerging infectious diseases.
While health security is critical to protecting consumers, procurement systems and government accountability are also necessary to enhance free and open trade. Without clear and transparent processes, the Bogor Goals would not come to fruition. As a development assistance tool, funding from the APEC Support Fund has been slated for a project to build capacity on anti-corruption measures that particularly benefit small and medium-size enterprises. Sponsored by Canada, a symposium on anti-corruption measures for the development of SMEs was held to make government officials aware of the particular impact of corruption on small business and the links between development and corruption issues.
In 2006, Australia committed an additional A$4 million over four years to combat avian influenza and health pandemics. And Korea has also committed funding.
With the new listing on the OECD's Development Assistance Committee, the APEC Support Fund's contribution is now formally recognized for its economic and technical cooperation agenda. APEC member economies, as well as non-governmental organizations are encouraged to contribute to the APEC Support Fund.