Officials in Lima to Implement Reassuring Vision for Growth

Senior Officials and technical experts from the 21 APEC member economies are convening in Lima over the next two weeks to take forward new policies for improving productivity and living standards across the Asia-Pacific, intent on easing rising anxiety about the future. 

Around 2,000 officials collaborating under more than 30 APEC working groups will focus on instituting measures to make business development and trade easier, faster and open to more would-be participants. They will do so in recognition of the urgent need for solutions to widening inequality and sustainability challenges within the region’s diverse, integrating economies. 

“High trade-driven growth, development and poverty reduction around the Pacific Rim has come up against new economic and social pressures that are weighing on perceptions of globalization and its capacity to bring positive change to people’s lives,” said Ambassador Luis Quesada, Chair of APEC Senior Officials, whose culminating meeting on 27-28 August will determine next steps towards calming these concerns. 

“APEC is moving to ensure that closer and more interconnected economies in the region can work for everyone,” Ambassador Quesada explained. “We understand that economic policies which go further to open up opportunities and confront insecurities are policies that the public is more likely to get behind and result in preferable outcomes.” 

Senior Officials will build on progress realized here to facilitate greater entrepreneurship, innovation and small business participation in trade via digital channels. They will also break new ground to ease administrative and financial bottlenecks to cross-border travel and shipping of goods; clamp down on corruption, terrorism and illicit trade; and enhance the health and productivity of labor forces. 

Examining the future of cooperation in APEC and how the region’s governments see it evolving into the next decade will be an additional emphasis. Recommendations from the private sector will help to shape the discussion. 

“Moving towards free and open trade and investment by 2020 and an economic environment responsive to new development issues remains APEC’s modus operandi,” noted Dr Alan Bollard, Executive Director of the APEC Secretariat. “The big question is how APEC members will follow through with these objectives and re-establish their policy agenda for the road ahead.” 

“APEC will continue to center on building bridges between economies that lead to better growth and quality of life in the Asia-Pacific,” Dr Bollard concluded. “Increasing scrutiny of globalization and trade is a sobering reminder that more must be done to make sure that the advantages of interconnectivity are felt widely and fairly, and something people throughout the region ultimately welcome.” 

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For additional information, or to arrange possible media interviews with APEC officials, please contact: 

David Hendrickson (in Lima) +65 9137 3886 at [email protected]

Michael Chapnick +65 9647 4847 at [email protected]