APEC latest news

 

If you are unable to view the news releases or have images disabled, please click here. Floating Petals of Progress: An Award-Winning Tale of Art in Bloom Follow the journey of Korean photographer Gilyoung Pyo whose image, Floating Solar Plant and Smart Farm, illustrates the harmony between innovation and nature.   As dawn breaks over Hapcheon Dam reservoir, the sky stretches endlessly in soft blue hues and rolling green mountains rise like sentinels around the water. Their slopes cascade gracefully to meet the lake’s edge. The crisp morning air renews, while the trees stand still, their reflections shimmer gently on the lake.

APEC latest

 

Korea Sets Ambitious Priorities for APEC 2025: Building a Sustainable Tomorrow
 

Issued by the APEC Informal Senior Officials' Meeting
Seoul, Republic of Korea, 17 December 2024

As the world grapples with challenges like climate change, digital transformation and global economic uncertainties, the Republic of Korea has unveiled its vision and priorities for hosting APEC 2025 under the theme “Building a Sustainable Tomorrow.”

“Since its inception, APEC has gone through incredible challenges such as the financial crisis, the unprecedented pandemic and escalating climate crisis,” said Kang Insun, Korea’s Second Vice Minister of Foreign Affairs, as she welcomed APEC senior officials and delegates at the Informal Senior Officials’ Meeting (ISOM) Symposium on APEC 2025 Korea Priorities in Seoul.

 

Leaders in Focus: APEC 2024 and Inclusive Growth

Issued by the APEC Secretariat

Singapore, 9 December 2024

 

Under the theme “Empower. Include. Grow,” the 2024 APEC Economic Leaders’ Week, hosted in Lima, Peru from 9-16 November, set a dynamic platform for dialogue among leaders, ministers and senior officials from APEC’s 21 member economies. The weeklong event, which culminated in the adoption of the Machu Picchu Declaration, underscored APEC’s commitment to fostering inclusive, innovative and sustainable economic growth in the region.

ΑPEC update

 

MSMEs in APEC: Apples and Oranges and Why We Need Better Data By Glacer Niño A. Vasquez and Emmanuel A. San Andres   Enabling better data sharing and analysis to drive evidence-based policies can empower small businesses and foster a more inclusive and vibrant economic environment. When it comes to talking about micro, small and medium enterprises (MSMEs) in APEC, some important questions come to mind. For example, how many MSMEs are there in APEC? What percentage are involved in cross-border trade in APEC? And how many of these MSMEs are owned and operated by women? These questions matter when we are trying to come up with effective policies together. But here’s the catch—we can’t answer all of them right now.

APEC latest

 

Chinese Taipei's Contribution Accelerates APEC's Path to Inclusive and Sustainable Growth

Issued by the APEC Secretariat

Singapore, 27 November 2024

 

Chinese Taipei has voluntarily contributed USD 1,000,000 in additional funding for APEC member initiatives to enhance human security, digital innovation and women’s economic participation, and establish greater economic integration across the Asia-Pacific.

Officials from Chinese Taipei and the APEC Secretariat in Singapore, which oversees projects implementing APEC’s policy directives, signed a Memorandum of Understanding for the contribution on Saturday, 9 November, in Lima, Peru.

This contribution will fund projects aimed at addressing the capacity building needs of member economies in agreed high-priority areas of inclusive and sustainable growth. It will also fund research conducted by the APEC Policy Support Unit to bolster joint work towards these goals.

APEC Recognizes Champions of Sustainability with 2024 BCG Award 

Issued by the APEC Secretariat

Lima, Peru, 14 November 2024

 

The annual APEC Bio-Circular-Green (BCG) Award recognizes individuals who have implemented sustainable practices with lasting positive impacts in their communities. It covers three categories – Women, Youth and MSMEs – and highlights how local solutions can address global challenges.

Peru’s Vice Minister of Foreign Trade Teresa Mera congratulated the winners, emphasizing the significance of their work: “These exceptional individuals have set a high standard for sustainability, showing that innovative thinking and dedication can address some of the region’s most pressing environmental challenges.”

APEC News

 

APEC Leaders' Week in Peru: Members Join Together to "Empower, Include, Grow"

Issued by the APEC Secretariat

Lima, Peru, 10 November 2024

As the 2024 APEC Economic Leaders’ Week begins, the world’s attention turns to Peru, where President Dina Boluarte will welcome her counterparts to Lima this week.

Under the theme, Empower. Include. Grow,  senior officials, ministers and leaders from APEC’s 21 member economies—an economic forum that boasts almost two-thirds of world GDP and half of global trade—will tackle core challenges facing the Asia-Pacific region, including climate change, sustainable energy solutions, digital economy transition, and trade facilitation. Leaders and ministers will discuss policies that could help economies overcome these current challenges while promoting innovation and inclusiveness.

Priority areas of focus will cover:

APEC latest

Building a Sustainable Future: APEC's Commitment to Innovative Finance Solutions
By José Arista Arbildo, Minister of Economy and Finance of Peru




The strengthening of economic and financial systems is necessary to enable the promotion of environmental, social and economic sustainability.


Sustainable finance has been one of the main priorities on the APEC 2024 Finance Ministers' Process agenda. Since the beginning of the year, we have held workshops related to domestic carbon pricing and non-pricing measures, sustainable energy transitions and sustainable infrastructure financing, as well as we have launched an APEC space for coordination between the public and private sectors and international organizations to share information and capacity building on sustainable finance that we would call the “Sustainable Finance Initiative”.

APEC News

Public Policies in Focus as APEC Pushes for Sustainable Finance Solutions

Issued by the APEC Finance Ministers’ Process

Lima, Peru, 24 October 2024

The growing urgency to address climate change and environmental challenges has propelled sustainable finance into the spotlight as governments, businesses and investors increasingly prioritize sustainability considerations. This shift is transforming the financial landscape and driving capital toward projects that promote sustainability from renewable energy infrastructure to social impact initiatives.

Against this backdrop, APEC Finance Ministers from across the APEC region convened in Lima on Sunday to discuss strategies for promoting low-carbon, climate-resilient economies. Representatives from international organizations, business leaders, and experts also offered their views on transition to a sustainable economy and the potential for investment it may bring.

Opening the High-Level Event on Sustainable Finance: Public Policies in Action for Sustainable Development, José Arista Arbildo, Peru’s Minister of Economy and Finance, emphasized the importance of recognizing the interconnection between economic growth, environmental sustainability and social well-being.

ΑPEC update

 

APEC Reinforces Ethical Standards, Drives Global Impact in Health-Related Sectors

APEC Small and Medium Enterprises Working Group

Lima, Peru, 21 October 2024

Dedicated to advancing ethical standards in health-related sectors, senior stakeholders from across the Asia-Pacific convened in Lima last month to drive action to enhance ethical practices, reinforcing APEC's leadership in promoting sustainable growth and fair competition for small and medium enterprises (SMEs).

“Ethical business practices are not just about doing the right thing—they are about creating environments where businesses can thrive, where innovation can flourish and where societies can prosper,” said Diane Farrell, Deputy Under Secretary for International Trade at the US Department of Commerce, upon opening the 2024 APEC Business Ethics for Small and Medium Enterprises Forum.

APEC update

 

Media Registration for the 2024 APEC Economic Leaders’ Week Opens

Issued by the APEC Secretariat

Singapore, 15 October 2024

Media registration is now open for the 2024 APEC Economic Leaders’ Week (AELW), which will be held in Lima, Peru, from 9 to 16 November 2024. Peru President Dina Boluarte will chair the APEC Economic Leaders’ Meeting on 16 November.

Minister for Foreign Affairs of Peru Elmer Schialer and Minister of Foreign Trade and Tourism Úrsula León will host their foreign affairs and trade counterparts for the APEC Ministerial Meeting. The AELW will also include the 2024 APEC CEO Summit and the APEC Business Advisory Council (ABAC) Dialogue with Leaders.

APEC latest

 

AI Governance: Why Cooperation Matters



Cooperation in the Asia-Pacific and beyond can ensure that AI remains a force for good—driving innovation, enhancing competitiveness, and fostering a more inclusive global economy.


In the rapidly evolving world of artificial intelligence (AI), no single economy can manage its governance alone. As AI increasingly becomes a cornerstone of global development, regional cooperation plays a pivotal role in addressing the ethical, social and regulatory challenges posed by this transformative technology.

APEC latest

Shifting into Sustainability: APEC's Role in Steering a Greener EV Battery Supply Chain
By Glacer Niño A. Vasquez and Emmanuel A. San Andres

The global shift toward electric vehicle adoption is gaining speed and the APEC region is at the forefront.


Envision a world where electric vehicles (EVs) glide silently along streets, their batteries a marvel of high performance and zero emissions. Picture bustling urban centers bathed in the glow of clean energy, with the air crisp and clear, free from the smog of a myriad tailpipes. This vision of a sustainable future is not just a dream—it is within our grasp.

APEC update

 

Ministers Redouble Efforts to Further MSMEs’ Empowerment, Inclusion and Growth

Issued by the 30th APEC Small and Medium Enterprises Ministerial Meeting

Pucallpa, Peru, 13 September 2024

Committed to addressing the significant barriers in accessing global markets, formalizing operations, and adopting new digital technologies, APEC ministers responsible for micro, small, and medium enterprises across the Asia-Pacific convened in Pucallpa, a gateway city to Peru’s Amazon region, to further empower this important economic sector. 

Micro, small and medium enterprises (MSMEs) account for over 97 percent of all businesses and employ over half of the workforce across APEC economies. Recognizing this significant contribution, ministers deliberated on actions and policy levers that will empower MSMEs to overcome obstacles and enhance their participation in global value chains.

“This year, we have defined clear priorities: to promote the integration of MSMEs into global markets, to support their transition to formality; and to promote their digitalization and innovation for sustainable development,” said Sergio González, Peru’s Minister of Production, who chaired the 30^th APEC Small and Medium Enterprises Ministerial Meeting on Friday.

“This meeting, which is being held in the heart of our Peruvian Amazon, represents an invaluable opportunity to strengthen our cooperation for the benefit of MSMEs, which are fundamental to our economies,” Minister González added.

APEC update

 

Agricultural Experts Push for Climate-Smart Innovations to Ensure Food Security

Issued by the APEC Agricultural Technical Cooperation Working Group

Trujillo, Peru, 17 August 2024

“Climate change as manifested by the increasing temperature, changes in rainfall patterns, and significant increases in the frequency and intensity of extreme weather events has caused disastrous consequences around the world,” said Dr Su-San Chang, lead shepherd of the Agricultural Technical Cooperation Working Group (ATCWG), on Thursday when she opened the 28^th ATCWG Annual Meeting in Trujillo, a coastal city located 550 kilometers north of Peru’s capital.

Held during Food Security Week, the meeting brought together officials and experts from the APEC region to address key challenges and opportunities in agriculture. In her opening remarks, Dr Chang emphasized the critical role of agriculture in meeting the growing global demand for food and addressing the challenges posed by climate change.

“The global population is projected to reach 9.7 billion by 2050, requiring a 30 percent increase in food production,” said Dr Chang. “This challenge, coupled with limited resources, an aging workforce, and climate change, demands immediate action.”

APEC latest

 

Strength in Numbers: How Women's Agricultural Associations Boost Outcomes and Competitiveness By Dr Su-San Chang, Lead Shepherd, Agricultural Technical Cooperation Working Group   Associative models are effective ways to encourage various individual women farmers and producers to join together to achieve common objectives. Women are often overrepresented in seasonal, informal, part-time, and low-wage work with limited access to social protection. It is critical to invest in economic empowerment of women in small-scale agriculture through various means such as education, training and financing, according to the Food and Agriculture Organization. First and foremost, small-scale farmers generally face many challenges. However, women in small-scale farming face multiple constraints beyond those of male farmers. Women tend to be invisible to policymakers because they are not seen as productive as men. They often are expected to provide unpaid farm work and bear a disproportionate burden of care and reproductive roles within the family and community. They are deprived of access to markets, key assets and inputs, and are frequently excluded from decision-making.  And women are even disproportionately impacted by poverty and hunger—including having less access to education and healthcare facilities. These constraints indicate that agricultural policies for women need to be redesigned. In the 2024 APEC Women and the Economy Forum Ministerial Statement, it clearly states that “We seek to actively promote women's meaningful economic participation and leadership through access to markets, capital and information and communications technologies (ICTs). This includes the provision of training and education with a focus on capacity building and increasing their digital skills, financial literacy, and addressing structural barriers that limit women’s participation in the economy and impede gender equality, such as the unequal distribution of paid and unpaid care and domestic work. Women’s economic empowerment will build economic resilience for women and is critical to the inclusive economic growth of the Asia-Pacific region as it ensures long-term prosperity for all.” In this regard, it is timely and meaningful for Peru to initiate a project that demonstrates the importance of policies and programs for the productive inclusion of women in small-scale agriculture through different associative models. These models are effective ways to encourage various individual women farmers and producers to join together to achieve common objectives such as:  to better face market demand; to improve their competitiveness; to have greater bargaining power; to have greater access to financing; and to optimize production process through information exchange, among others.  I am confident that the implementation of this project will not only contribute significantly to La Serena Roadmap for Women and Inclusive Growth, but it would also help APEC member economies to identify policies, plans, interventions and efforts to improve the competitiveness of women in small-scale agriculture and strengthen their associative capacities for production, trade and business entrepreneurship. The project consists of two main components. First, the survey, which gathers detailed information highlighting the importance of productive policies and programs for the inclusion of women in agriculture through associativity with a focus on small-scale agriculture. The survey was designed to provide a thorough understanding of the existing approaches and practices, enabling economies to learn from one another's experiences and best practices. Second, the project features a workshop where participants from APEC member economies can exchange their experiences. This workshop, held in Trujillo this week, served as a platform for sharing best practices, lessons learned and innovative ideas. By encouraging collaboration and knowledge exchange, the workshop helped economies deepen their understanding of effective strategies and identify areas for improvement. A key takeaway from the workshop is the significant contributions of institutional frameworks, especially in providing access to specialized information, such as integration into the formal economy. When there are policies that offer benefits, services or tools to women’s associations, women begin to formalize their businesses, which is a clear benefit. This also enables economies of scale and connections to value chains. The discussion further emphasized the importance of support and collaboration in the agricultural sector, highlighting the involvement of governments at all levels. This includes not only central governments but also local governments that address more immediate and localized issues. We learned that the more critical factor is access to preferential credits and financial independence. Farmers need financial independence, tools, working capital, and resources. However, the primary issue is that many farmers do not own the land or their plots, which significantly hinders their ability to access the necessary resources. This is crucial to address. We also discussed the main challenges faced by some economies. Several opinions were shared, highlighting key issues, although they were not always fully visible. Most challenges are linked to access to digital resources, education and cultural factors. One significant cultural challenge is that women farmers are often still viewed as merely an extension of their domestic roles. Workshops like this one, along with other broader initiatives, play a vital role in capacity building, as does the digital landscape. Digital technology is recognized as both a success factor and a limitation. It is closely tied to education, and without education, people—especially women and small-scale farmers—are unlikely to benefit from digital innovations. I recall that the Policy Partnership on Women and Economy published a useful toolkit, APEC GIFTS A+: Policy Toolkit on Promoting Gender Inclusion in Smart Agriculture, in January 2021. This resourceful toolkit was developed to encourage more women participate in smart agriculture and to address the digital divide within the smart agricultural industry. Likewise, it was designed for public and private sector decision-makers to utilize gender-responsive approaches to create an enabling environment for women. To move forward, we should continue sharing best practices among member economies for strengthening related regulations and legal framework, as well as their enforcement to ensure gender equality. Additionally, APEC members should be encouraged to invest in infrastructure in order to provide female farmers access to education, training, social services and financial services. *** Dr Su-San Chang is the lead shepherd of the APEC Agricultural Technical Cooperation Working Group.  From Farm to Fork: Tackling the Global Challenge of Food Loss and Waste   The major challenge for our food systems is to revolutionize the way we produce, process, sell, consume, and ultimately dispose of food. Global hunger is on the rise, yet the World Food Program reports that one-fifth of food produced worldwide is lost or wasted. This amounts to one billion meals a day. Reducing food loss and waste is crucial, not only to preserve the food itself but also to conserve the vast resources required for its production. The major challenge for our food systems is to revolutionize the way we produce, process, sell, consume, and ultimately dispose of food. Food loss and waste significantly threatens the sustainability of our agri-food systems. When food is wasted, so are the resources used in its production—such as water, land, energy, labor, and capital. Furthermore, the disposal of food loss and waste in landfills generates greenhouse gases, exacerbating climate change. Food loss and waste generates up to 10 percent of global greenhouse gas emissions. Food loss and waste can negatively affect food security and availability, driving up food costs. According to the Food and Agriculture Organization (FAO), reducing food loss and waste can enhance food availability and access, though the impact depends on how close these reductions are to where the food is consumed. Food security is one of APEC’s top priorities. Members recognize the importance of agricultural productivity, international trade, and prevention and reduction of food loss and waste, in achieving food security. In fact, member economies have committed to fully implementing the Food Security Roadmap Towards 2030 and its implementation plan. Ahead of the Food Security Ministerial Meeting in Trujillo, Peru—APEC 2024 host economy—hosted a workshop to discuss challenges and opportunities on reducing food loss and waste to ensure food security in the APEC region. Policy formulation and implementation, stakeholder collaboration, technology and innovation were among the critical topics discussed by experts and policymakers. “In APEC member economies, the context is diverse and complex. We are a region with a great variety of cultures, levels of development and agri-food production systems,” said Jorge Fidel Castro Trkovic, general director of Agrarian Policies under Peru’s Ministry of Agrarian Development and Irrigation. “However, what we all share is the urgent need to address the problem in an effective and coordinated manner.” Experts and policymakers highlighted the following key issues related to food loss and waste: Public policies and regulatory frameworks Effective policies can significantly influence loss and waste reduction throughout the entire supply chain, from production to retail and consumption. “Policy goals for food loss and waste reduction must recognize the links among the social, environmental and economic aspects across the food system,” said Maximo Torero Cullen, chief economist at the FAO. “Policies must acknowledge trade-offs and take a holistic view of agri-food systems. Policy coherence must be ensured.” According to the FAO, the percentage of food lost globally after harvest on farm, during transport, storage, wholesale, and processing in 2021 was estimated at 13.2 percent. Food loss and waste translate into a substantial economic loss. FAO’s estimates indicate that food losses alone are valued at an estimated USD 400 million every year. “Policies that incentivize upgrades and good practice to prevent food loss and waste are key in upstream segments of the food value chain,” Torero added. In Peru, for example, 12.8 million tons of food is lost or wasted. To address the issue, Peru has implemented domestic policies and laws that prevent food loss and waste as well as promoting food rescue that involved inter-sectoral and inter- governmental coordination. “Peru was a real leader in developing an enabling environment,” said Sara Laughton, director of World Food Program in Peru. The legal and normative framework for food waste deterrence through a food donation requirement that Peru set in 2016 was one of a very small number of economies that had a food donation requirement. When food has lost commercial value but is still edible, the law prohibits its destruction. It requires that supermarkets and food warehouses donate this food to a public or a private non-profit organization that will then distribute it for free to individuals facing food insecurity. Enacting the law back in 2016 tripled the donations to Peru's major food bank, Banco de Alimentos Perú. The law also updates Peru's income tax law to provide for tax incentives for donations. Peru has also adopted implementing regulations, describing how all of these tax benefits for food donations will operate. In 2022, another law was passed that promotes food recovery, promoting food redistribution through educational campaigns, coordination of projects and markets and tracking information on food recovery and its impact. “Overall, what these policies do is they are aimed at changing the balance of interest and create incentives to keep food out of landfills and also to encourage a cultural shift towards treating surplus food as a valuable resource,” Laughton added. Role of technology and innovation Technological innovation plays a crucial role in the fight against food loss and waste. Technology can play a transformative role in reducing losses, from improving efficiency in production and storage to using mobile apps that connect producers with consumers. “Technology and innovation are important accelerators and must play a key role in future policy development and design to reduce food loss and waste,” said Torero. “More investments and innovation should be involved in the reduction of food loss and waste to ensure food security in the APEC region,” said Dr Sun Hui from China’s Academy of National Food and Strategic Reserves Administration. “For smallholder farmers, keep conducting training classes on new technologies together with providing socialized service. Research and develop smart and well-targeted measures to promote transformation of agri-food system from digital to smart, to minimize food loss and waste.” “Sustainable practices can lead to cost saving, improve operational efficiency and enhance brand value. Enhancing waste management system is crucial,” said Dr Matthew Tan, associate professor at Singapore Institute of Technology. “Investing in advanced waste treatment technology, improving waste processing practice can help reduce maintain emission and lower overall waste management costs.” Collaboration with stakeholders Regional collaboration and international cooperation can be catalysts for change. The global nature of the problem requires a coordinated response. APEC, as an economic forum that promotes cooperation and development between its economies, is the ideal environment to strengthen links between key actors and develop joint initiatives that can have a significant impact on reducing food losses and waste in the region. “Successful implementation of reducing food loss and waste especially through food rescue movement indeed require support and collaborative efforts across sectors,” said Nita Yulianis, director of Food and Nutrition Surveillance of National Food Agency in Indonesia. “Synergy and collaborations with all stakeholders from upstream to downstream are needed,” she added. Collaboration and stakeholder engagement are particularly important in creating new policy instruments and its evaluation. Experts agree that peer-to-peer economy exchanges can add value and help in promoting better measurement and better policy evaluation practices. “The approach we call forward is more for policymakers to evaluate and to assess the existing policy instruments and have that informed future developments,” said Juan David Saenz Henao of the OECD. “The progress we've made so far has been thanks to our engagement with stakeholders. The stakeholders have a lot of knowledge and access to data that can help us fill in the gaps we have in monitoring.” "This is about bringing stakeholders together to define a common language. It's about co- designing what those solutions might be—looking globally at what's worked elsewhere, but also looking outside of food and drink to see how collaboration, how technology, is solving supply chain solutions, especially so that we can look to address this,” said Sam Oakden, industry action director of End Food Waste in Australia. On 17-18 August, Peru will be hosting the APEC Food Security Ministerial Meeting in Trujillo, where minister-level government officials in the Asia-Pacific will tackle similar issues. In anticipation of this event, the Policy Partnership on Food Security has prepared week-long meetings and activities leading to the development of a 2024 Ministerial Declaration for the endorsement of the food security ministers. Ministers Commit to Safeguard a Clean and Inclusive Energy Transition Issued by the 14th APEC Energy Ministerial Meeting Lima, Peru, 16 August 2024 Facing the stagnation of the clean energy transition to combat climate change, energy ministers from APEC economies convened at the 14th APEC Energy Ministerial Meeting in Lima to shape effective policies and foster partnerships to spur efforts for sustainable and inclusive transitions across the Asia-Pacific region. The meeting, chaired by Peru's Minister of Energy and Mines Rómulo Mucho, focused on innovative strategies, capacity building, public-private partnerships, and equitable energy access, with a special emphasis on the development of clean and low-carbon hydrogen and the need to safeguard these transitions to be inclusive for people and communities. “When Peru decided to assume the presidency of APEC 2024 under the theme of Empower. Include. Growth., we set one of our priorities to be sustainable growth for resilient development, with the latter mainly focusing on the promotion of transition to clean energies,” said Minister Mucho in his opening remarks at the meeting. “This recognizes the need to intensify efforts to accelerate clean, sustainable, just, affordable and inclusive energy transition,” Minister Mucho added. Ministers engaged in a robust discussion on how APEC economies can leverage innovative technologies to ensure just, inclusive, and sustainable energy transitions, at the same time addressing potential socio-economic impacts this transitions on vulnerable populations, so that the benefits of clean energy can be distributed across all segments of the society. In her report to the ministers, Ariadne BenAissa, lead shepherd of the APEC Energy Working Group, highlighted an aquavoltaics development project in Chinese Taipei, one of the 10 winners of the 6th APEC Energy Smart Communities Initiative Best Practices Awards, as a “perfect example of a just transition effort that would be beneficial to learn from throughout APEC.” “The aquavoltaics project in Chinese Taipei involved working with local communities to install solar panels on ponds used for fish farming,” reported BenAissa. “What is especially notable about this case is that the project implementers were able to go from strong opposition from the community to full support through stakeholder engagement,” she explained. The importance of enhancing energy access in rural and remote areas was highlighted as a key driver for sustainable growth. Ministers explored effective policies and technologies that can overcome barriers to energy access, particularly for micro, small and medium-sized enterprises and vulnerable populations. The discussion stressed the need for targeted government interventions to unlock untapped economic potential through improved energy access. “While we have done well, we can do more in the area of energy efficiency and renewable energy,” said Dr Rebecca Sta Maria, the Executive Director of the APEC Secretariat. “APEC is known as an incubator of ideas. As such we must lead in promoting clean and low-carbon energy transitions.” Ministers also endorsed the “APEC Policy Guidance to Develop and Implement Low-Carbon Hydrogen Policy Frameworks in the Asia-Pacific” —a pivotal document aimed at guiding APEC economies in their hydrogen development strategies. This policy guidance is expected to play a crucial role in the region's transition to clean and low-carbon energy, contributing to long-term sustainability goals. “This innovative document proposes key areas to advance the implementation, such as standards and certifications, value chains, research, finance and investment, and public awareness, and emphasizes the relevance of the principles of coherence and inclusiveness,” said Ambassador Carlos Vasquez, 2024 Chair of APEC Senior Officials’ Meeting. “Increasing the share of renewable energy in our energy mix is crucial in addressing the severe impacts of climate change,” Minister Mucho concluded. “To achieve this, I reaffirm Peru’s commitment to advancing the transition to clean and low-carbon energy.”   For further details, please contact: Masyitha Baziad +65 9751 2146 at mb@apec.org Michael Chapnick +65 9647 4847 at mc@apec.org   News Releases • Features • Publications • Events • Photos • Videos

APEC update

 

Ministers, Officials Pursue Economic Resilience, Food Security and Sustainable Energy

Issued by the APEC Secretariat

Lima, Peru, 12 August 2024

Ministers and officials from the Asia-Pacific are joining together in Peru, from 12-25 August to confront pressing economic issues critical for the prosperity of the region.

APEC newslatest

APEC Bulletin 3 July 2024


Navigating the Future of Supply Chains: Government's Role in Promoting Resilience
By Akhmad Bayhaqi

Governments play an indispensable role in facilitating the resilience of firms and supply chains.


During the peak of disruptions due to the COVID-19 epidemic, consumers struggled to fulfil their basic daily needs such as eggs and vegetables. Manufacturers also faced difficulties in securing materials for production. Scarcity of chips or semiconductors, the fourth most-traded product globally, disrupted supply chains in various sectors, including automotive, smartphones and computers—demonstrating the far-reaching consequences of disruptions in just one component. A car may require 1,400-1,500 semiconductor chips, whereas a smartphone may utilize eight different high-performing semiconductors.

APEC Bulletin 14 June 2024

 

APEC Bulletin 14 June 2024
Driving Tourism Forward: Balancing Sustainability and Economic Growth By Dr Rebecca Sta Maria, APEC Secretariat Executive Director   Striving f

or a balance between economic growth and sustainability of the environment can be a challenge, but a strategic plan should guide policymakers and industry players on the best way to succeed in having both. 

Since ministers last met in Bangkok in 2022, the Tourism Working Group and member economies of APEC have been doing much to ensure that this sector maintains its growth trajectory, incorporating lessons learned as we recovered from the pandemic.

APEC Bulletin 12 June 2024

APEC Bulletin 12 June 2024


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Creative Ecosystems Can Breed Innovative Future for Tourism
By Madeleine Burns Vidaurrazaga



Ahead of the12th Tourism Ministerial Meeting and the 63rd Meeting of the APEC Tourism Working Group last week, Peru welcomed representatives from the 21 APEC economies and guests from the public, private, academic, and social and civil society sectors to the Co-Creation Forum on the Impact of Creative Economies on the Future of Tourism in the APEC Region in the beautiful and historic city of Urubamba, Cusco.

We gathered in the spirit of collaboration and innovation, united in our shared commitment to exploring and enhancing the role of creative economies and driving economic growth in creation within the tourism sector.