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APEC ASIA PACIFIC ECONOMIC COOPERATION,update
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Regional Cooperation Efforts Focus on Delivering Practical Benefits
Issued by the APEC SOM Steering Committee on Economic and Technical CooperationAhead of the APEC Ministers Responsible for Trade meeting taking place on 22-23 May, member economies met to review how the forum’s economic and technical cooperation agenda deliver relevant and targeted impact to the region.
Known within APEC as ECOTECH, economic and technical cooperation focuses on strengthening economies’ capacity to grow, adapt and participate more fully in regional economic integration through cooperation on areas such as digitalization, skills development, energy, healthcare and inclusive growth.
“Economic and technical cooperation is one of the major pillars of APEC, with the SOM Steering Committee on Economic and Technical Cooperation (SCE) and its sub-fora playing a central role in ensuring that our Leaders’ and Ministers’ commitments and initiatives translate into tangible benefits that improve people’s lives across the Asia-Pacific region,” said Tran Bao Ngoc, Chair of the SCE.
During the meeting in Shanghai last week, economies reviewed progress under the Aotearoa Plan of Action, which guides APEC’s work to achieve the Putrajaya Vision 2040 goals of an open, dynamic, resilient and peaceful Asia-Pacific community.
Senior officials discussed the implementation of the Lima Roadmap to Promote the Transition to the Formal and Global Economies, which aims to support informal workers and small businesses in entering the formal economy. Economies shared examples on how digital platforms and walk-in service centers are helping informal workers register their businesses, access training opportunities and connect with financial services.
The meeting also examined how APEC economies are responding to demographic changes, including aging populations and shifting labor market needs. Senior officials discussed how artificial intelligence (AI), digital tools and skills development are being used to help workers adapt to changing industries while supporting older populations to remain active and contribute to the economy.
Members also discussed how AI is being deployed to address the growing pressures that aging populations are placing on healthcare systems across the region, including teleconsultations for the elderly in urban and rural areas.
With digital transformation increasingly affecting sectors ranging from education and healthcare to labor and public services, senior officials underscored the importance of expanding digital infrastructure, strengthening workforce skills and ensuring underrepresented groups are not left behind in the digital economy.
Updates from APEC working groups also highlighted cooperation underway across various areas including women’s economic empowerment and the application of AI in the energy sector.
“The progress made across various working groups demonstrates how initiatives like the Lima Roadmap are progressively incorporated into APEC’s policy structure and effectively implemented, contributing to the region’s economic growth and development,” Tran concluded.
This year also marks the five-year review of the Aotearoa Plan of Action, providing economies an opportunity to assess how APEC’s economic and technical cooperation agenda can remain relevant and responsive to the region’s evolving economic, technological and social challenges.
For further details and media inquiries, please contact:
media@apec.org
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This news release can also be viewed on the APEC website: https://www.apec.org/press/
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