“Let Inclusive Growth Be Our 'North Star'”: Del Rosario
Lending historical perspective to the agenda that had guided APEC’s efforts to tackle regional economic integration through trade liberalization, Ambassador Laura Del Rosario, Chair of the APEC 2015 Senior Officials, sought inspiration from the pioneering spirit that led to the practice of the first international trade, which started from the discovery of the Island of Mactan, Cebu, The Philippines.
Undersecretary Del Rosario, speaking at the opening of the Third APEC Senior Officials' Meeting, talked about how Portuguese explorer Ferdinand Magellan set sail on uncharted waters and went on to discover the Philippines. That island, which Magellan discovered, is Cebu-now a bustling port city, currently hosting the third installment of the Senior Officials meetings aimed at fostering the environment that encourages investing in human capital development; participation of small and medium enterprises’ in regional and global markets; building sustainable and resilient communities; and enhancing the regional economic integration agenda.
“In 1565, Miguel Lopez de Legazpi's expedition, after establishing a settlement in Cebu, was able to find a return route eastward to Acapulco,” said Department of Foreign Affairs Undersecretary Del Rosario. The Galleon Trade route between Manila and Acapulco allowed for early commercial pioneers to first trade goods. "Today, we also find new routes toward achieving sustainable growth—just as Magellan chartered new route to the Philippines.”
APEC now sets its sights on initiatives that ensure economic growth in the region is inclusive, resilient, and sustainable. “We hope that the vision of inclusive growth will become our "north star" as we go forward with our meetings,” Undersecretary Del Rosario reminded Senior Officials, underscoring the 2015 priorities.
Senior Officials are set to hear milestones on the implementation of the Boracay Action Agenda, which seeks to globalize micro, small and medium size enterprises or MSMEs by fostering their participation in regional and global markets. The agenda builds on APEC’s work that provides framework to support MSMEs’ needs.
Specifically, the agenda to mainstream MSMEs will involve facilitating access to trade agreements, streamlining procedures and regulations to enable and assist in compliance with customs-related matters, access to information and credit, utilizing ICT and e-commerce to support internationalization, and putting focus and awareness of needs of women as MSME owners.
Over 70 per cent of the world’s natural disasters occur in the Asia-Pacific. Also in focus in at the Third Senior Officials' meeting is the APEC Disaster Risk Reduction Framework. During their meeting, Senior Officials will consider a platform to strengthen the region’s efforts to build community resilience and preparedness for emergencies and natural disasters.
Senior officials will also review progress made on the dialogues on free trade agreements and regional trade agreements and new developments with the APEC Business Travel Card scheme. The card’s validity has now been extended to five years. APEC Senior Officials will continue to meet on Sunday and will pave the way for the APEC Structural Reform Ministerial Meeting on 7-8 September.
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For further details, please contact:
Ma. Lizbeth B. Edra +65 9452 8344 at [email protected]
Michael Chapnick +65 9647 4847 at [email protected]
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