APEC news

Media Registration Opens for Ministers Responsible for Trade Meeting in Arequipa

Issued by the APEC Secretariat

Singapore, 15 April 2024

Media registration is open for the 2024 APEC Ministers Responsible for Trade Meeting to be hosted by Peru on 17-18 May. 

The meeting includes trade ministers from 21 APEC member economies and will be chaired by Elizabeth Galdo Marín, Peru’s Minister of Foreign Trade and Tourism in Arequipa, a city in the Southern Coastal region of Peru. The policy focus will be centered around accelerating APEC actions to address the informal sector within member economies and to review key areas and measures that could be integrated into a roadmap for transitioning to the formal within the global context.

APEC News

Applications Open for APEC’s Healthy Women Research Prize

Issued by the APEC Policy Partnership on Women and the Economy

Singapore, 04 April 2024

Applications for the 2024 APEC Healthy Women, Healthy Economies Research Prize, which calls for innovative research on the link between women’s health and economic participation, are now open.

The annual prize recognizes research that enables policymakers, business leaders and other stakeholders to shape policies that will further boost women’s full economic participation. It aims to encourage the creation of sex-disaggregated data and gender-based research within APEC member economies. The initiative was launched in 2019 and is supported by Merck. 

Interested candidates may access the application form through this link. The application deadline is Friday, 17 May 2024. 

“Women, compared to men, spend a greater portion of their lives in poor health, which restricts their ability to fully engage in domestic, community and economic activities,” said Chantelle Stratford PSM, Chair of APEC’s Policy Partnership on Women and the Economy. 

APEC update

APEC Bulletin 20 March 2024

Empowering an Inclusive Landscape of Standards Development
By César José Bernabé Pérez

Collaboration and collective action are necessary to ensure standards are widely adopted and effectively implemented.


APEC is united by its mission to build a dynamic and harmonious Asia-Pacific community by supporting free and open trade and investment, promoting and accelerating regional economic integration, encouraging economic and technical cooperation, enhancing human security and facilitating a sustainable business environment. The work being done in the Sub-Committee on Standards and Conformance (SCSC) directly contributes to this mission and what makes our participation crucial in fulfilling the SCSC´s mandate to reduce the negative effects that differing standards and conformance agreements have on trade and investment flows in the Asia-Pacific region. The SCSC enables us to collaborate, mutually benefiting from each other´s expertise, regardless of the varying levels of development among our economies.

APEC Bulletin 11 March 2024

APEC Bulletin 11 March 2024


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APE: Navigating Fragile Growth, Trade Slowdown and Global Challenges
By Rhea Crisologo Hernando, Glacer Niño A. Vasquez and Carlos A. Kuriyama




As global challenges weigh on economic recovery, APEC will continue to grow at a moderate pace between 2024 and 2025.


Fragile Growth
The APEC region is estimated to have expanded by 3.5 percent in 2023, an increase from 2.6 percent in 2022, in line with the global economy. Consumer spending is the main driver behind higher growth in 2023 even as tourism and travel remained strong, while government spending also helped buoy economic activity.

APEC News

APEC Growth Outlook Brightens But Risks Linger

Issued by the APEC Policy Support Unit

Lima, Peru, 8 March 2024

Boosted by consumer and government spending, as well as tourism, the APEC region’s economy is expected to grow by 3.5 percent in 2023 and is projected to sustain growth at 3.2 percent in 2024, higher than earlier estimates, according to the APEC Policy Support Unit (PSU).

The updated report forecasts economic growth to moderate in 2025 to 2.8 percent with global uncertainties continuing to put pressure on economic recovery, in addition to the lagged effects of monetary tightening and scaled-down fiscal support measures that APEC economies have to face.

Presenting the report at the First APEC Senior Officials’ Meeting in Lima, Carlos Kuriyama, director of the PSU, warned that protectionism remains an issue as the number of trade restrictions and remedies increased anew in 2023.

ΑPEC latest

APEC Bolsters Services Competitiveness to Achieve Inclusive Growth

Issued by the APEC Economic Committee and Group on Services

Lima, Peru, 4 March 2024

In their endeavor to support the transition of the informal sector to the formal economy and to spur growth of services in the Asia-Pacific, member economies are strengthening capacity and collaboration across the APEC forum through structural reform.

APEC News

APEC Customs Administrations Redouble Efforts to Facilitate Export by MSMEs

Issued by the APEC Sub-Committee on Customs Procedures

Lima, Peru, 28 February 2024

Unleashing the full potential of micro, small and medium enterprises (MSMEs) to participate in foreign trade and reap the benefits offered from it was the focus of the APEC Workshop on Exporting Entrepreneurship held on Monday in Lima, Peru.

The workshop, organized by Peru’s customs administration, SUNAT, aimed to better equip customs administrations in the APEC region by increasing MSME’s economic empowerment in international trade and ensuring that no one is left behind in the pursuit of progress and prosperity.

“Internationalization of MSMEs requires a multi-pronged approach, but customs agencies play a key role as we are the gateway for these products to enter and leave an economy,” said Blanca Barandiaran, Chair of the APEC Sub-Committee on Customs Procedures.

APEC News

 

APEC Drives Quality Growth Agenda

Issued by the APEC Secretariat

Lima, Peru, 26 February 2024

APEC officials renew their commitment to advance quality growth in Asia-Pacific by focusing on the social dimension of economic growth, as the first technical cluster of meetings get underway in Lima starting on 24 February to conclude on 8 March.

Peru is leading the forum’s work this year with its overarching theme, “Empower. Include. Grow” that was born out of intensive consultations, involving some 350 meetings with Peruvian stakeholders including business associations, non-governmental organizations, universities, Indigenous communities and women associations.

APEC News

Media Registration Open for the First Meetings of APEC 2024

Issued by the APEC Secretariat

Singapore, 31 January 2024

Registration is available for media wishing to cover the Finance and Central Bank Deputies' Meeting (FCBDM) to be held in Arequipa, from 21 to 24 February and the First APEC Senior Officials Meeting to be held in Lima from 24 February to 8 March.

Known for its alpaca, and vicuña fiber industries as well as other manufactured goods, Arequipa, a city in the Southern Coastal region of Peru will host deputy ministers of finance and central banks of the APEC region. The meeting will be chaired by Vice Minister of Economy Zósimo Juan Pichihua Serna.

Following the meeting in Arequipa, senior officials from the 21 APEC member economies will convene in the capital city, Lima, starting 24 February for the first cluster of technical meetings that will help the region ensure food security, improve standard and conformance, boost investment, fight corruption as well as cooperate in the ocean and fisheries sector, among others.

Watch: The Launch of APEC Peru 2024

Also read: Peru Spotlights Social Dimension for its APEC 2024 Priorities

This series of meetings will culminate in the First APEC Senior Officials’ Meeting (SOM1) to be hosted by Ambassador Carlos Vásquez Corrales, the 2024 Chair of APEC Senior Officials’ Meeting on 7-8 March.

Under the theme “Empower. Include. Grow.”, senior officials will chart the course to develop the APEC 2024 thematic priorities and to work out the main deliverables based on the the forum’s commitment to cooperation and consensus building.

Registration procedure:

All media wishing to cover APEC meetings in Arequipa or Lima, or access the meeting sites and facilities, must have a media credential. This credential is effective across all APEC events during this period.

Interested media should apply for credentials by writing an email to  mediaoperations@rree.gob.pe indicating name of the media; contact person; position; email and mobile phone number no later than 9 February 2024.

For more information on APEC Peru 2024, visit: https://apecperu.pe/2024/en/.
 

For further details, please contact:

Masyitha Baziad +65 9751 2146 at mb@apec.org
Michael Chapnick +65 9647 4847 at mc@apec.org

APEC Introduces Policy Toolkit to Build Demographic Resiliency

APEC Introduces Policy Toolkit to Build Demographic ResiliencyIssued by the APEC Health Working Group Singapore, 19 December 2023 To prevent the long-term economic challenges posed by demographic change, APEC members through the Health Working Group, are introducing a set of policy recommendations that can assist economies in their effort to create an enabling environment for reproductive health decision-making. These policy recommendations are in response to the long-term, negative economic challenges posed by demographic trends faced by most APEC member economies that include falling fertility rates, which directly impact dependency ratios and economic security, and higher unintended pregnancy rates, which directly impact women’s economic participation. “Historically, efforts to expand access to family planning resources and services in APEC economies have had limited impact because they have largely been responsive to a single problem,” said Dr Narong Aphikulvanich, chair of the APEC Health Working Group.

APEC update

 

Public Urges Economic Integration to Address Global Challenges: Report

Issued by the APEC Secretariat

Lima, Peru, 7 December 2023

Despite limited understanding of multilateralism, the public recognizes the need for economic integration as essential to tackling global challenges effectively. That is according to the APEC Secretariat’s 2023 perception survey, Communicating the APEC Putrajaya Vision 2040, which highlights the public’s call for international cooperation to address global crises.

APEC, update

 

APEC Advances Indigenous Peoples’ Economic Priorities through Trade

Issued by the 2023 APEC Ministerial Meeting

San Francisco, The United States, 1 December 2023

In an effort to meet people where they are and respond to the call for including more diverse voices in policy discussions, the United States, chair of APEC 2023, hosted the first APEC Ministers’ Meeting Dialogue with Indigenous Peoples in San Francisco on 14 November.

“Our economies are more than just numbers and data sets,” said the United States Trade Representative Ambassador Katherine Tai as she opened the dialogue joined by her minister counterparts.

APEC update

 

APEC Finance Ministers Announce Joint Statement

Issued by Finance Ministers' Meeting

San Francisco, The United States, 21 November 2023

Finance Ministers from the 21 APEC member economies announced a joint statement at the conclusion of their meeting, outlining their commitment to policy efforts that help APEC members and the global economy achieve strong, balanced, secure, sustainable and inclusive growth. 

The statement reflects the outcomes of the 2023 APEC Finance Ministers’ Meeting chaired by United States Secretary of the Treasury Janet Yellen. It describes shared support for action by APEC economies in the following areas:

• Strengthening global growth
• Modern supply side economics
• Sustainable finance
• Digital assets
   

Visit this page to view the 2023 APEC Joint Finance Ministers’ Statement and the accompanying Chair’s Statement

Ministers reiterated their support for continued collaboration and dialogue among finance ministries, international financial institutions, private sector organizations, and other stakeholders within the APEC Finance Ministers Process, and look forward to their next meeting in Peru in 2024.

Annex: 2023 Deliverables, Initiatives, and Reports to Finance Ministers

For further details, please contact:

Masyitha Baziad +65 9751 2146 at mb@apec.org
Michael Chapnick +65 9647 4847 at mc@apec.org

APEC update

APEC Bulletin 12 November 2023

Overcoming Challenges in APEC's Post-Pandemic Recovery
By Rhea Crisologo Hernando, Glacer Nino A. Vasquez and Carlos Kuriyama



Uneven growth and downside risks
The APEC region’s GDP growth improved to 3.3 percent in the first half of 2023 from 2.9 percent a year ago. The rebound in tourism and domestic consumption is driving economic activity in the APEC region. However, growth is uneven across the region, with some expanding above the APEC average while the majority are either growing below average or contracting.

APEC walks a tightrope amid downside risks. While the region is expected to grow by 3.3 percent for the whole year of 2023, the pandemic legacy, stubborn inflation, higher debt levels, climate change, geopolitical tensions, trade protectionism and geoeconomic fragmentation are casting shadows over APEC’s prospects. Upside opportunities for growth could come from sustained strength in tourism and consumption activity as well as continued targeted fiscal support. From 2024 until the medium term, growth in APEC is expected to stabilize to a range of 2.8 - 2.9 percent, albeit slower than the rest of the world. Uncertainty in the economic landscape is complicating efforts towards a firmer post-pandemic recovery.

Inflation: A thorn in the side
An uptick in inflation was observed in August-September 2023 at 3.4 percent, particularly due to higher prices of energy, sugar and rice. Supply side factors, including oil production cuts by OPEC+ members and export restrictions, further exacerbated by weather conditions, have led to spikes in commodity prices.

APEC Bulletins...

APEC Bulletin 11 November 2023


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Diverse Voices Reinforce Inclusive Approach to Building a More Interconnected, Innovative and Inclusive APEC
By Ambassador Matt Murray, US Senior Official for APEC
APEC’s commitment to stakeholder engagement not only reinforces our belief in an inclusive approach to the most pressing issues we face but is a means of making better, more informed decisions when we hear from a variety of voices.

This year, we have dedicated significant time to traveling and explaining APEC to diverse stakeholder communities, particularly the connections between trade, investment and economic prosperity of everyday life in the region.

This is something we first put into practice in Honolulu during the Informal Senior Officials’ Meeting. We asked local stakeholders to provide their perspectives on the theme, priorities, and proposed work for our host year.

APEC update

 

Pioneering Multistakeholder Forum Drives Inclusive, Collaborative Solutions for Just Transition

Issued by the APEC Secretariat

San Francisco, The United States, 10 November 2023

The APEC Multistakeholder Forum raises the curtain on the 2023 APEC Economic Leaders’ Week in San Francisco. In a groundbreaking initiative to address the local impact of climate change and just transition on the region’s diverse communities including leaders from various civil society organizations, Indigenous Peoples, youth, workforce, and women’s groups to foster collaboration and dialogue. 

APEC update

 

Pick your favourite: APEC Announces 10 Finalists of the 2023 APEC Photo Contest In July, we asked photographers from APEC economies to share with us their creative interpretations and vision of APEC 2023 United States’ host year theme of “Creating a Resilient and Sustainable Future for All” along with interpretations of #USAPEC2023 policy priorities: “Interconnected. Innovative. Inclusive.”   This year’s APEC Photo Contest received more than 1000 entries from 19 APEC economies. We are excited to announce the top 10 finalists. Main prize winners will be chosen by a panel of judges. Choose your favorite photo to win the Popular Choice Award. Check out the photos and pick your favorite. Pick your favorite photo!

Pick your favorite photo!

News Releases • Features • Publications • Events • Photos • Videos Copyright © APEC Secretariat. All rights reserved.

 

APEC Accelerates Progress on Universal Health Coverage

Issued by the APEC Health Working Group

New York, The United States, 3 October 2023

APEC member economies renewed their commitment to universal health coverage (UHC) and pledged to accelerate progress towards achieving UHC by 2030, as presented at the 2023 United Nations High-level meeting (UN HLM) on UHC in New York on 21 September.

Through the APEC Health Working Group, a regional forum dedicated to demonstrating the value of health to economic growth and development, member economies delivered a consensus statement on UHC at the meeting, adding the group’s unique perspective to the global discussion on this crucial topic.

APEC update

APEC Bulletin 19 September 2023

More Intentional Actions Can Push Gender Equality to Reality
By Chantelle Stratford

It is a critical time for APEC to renew its commitments and meaningfully deliver change in the region to ensure social equity.


The High-Level Policy Dialogue on Women and the Economy held in Seattle last month brought together global experts to discuss structural reform that mainstreams gender analysis through budget processes, policy, and within our own APEC practices. More than that, we had ministers and ambassadors, leaders of industry and senior officials together in a meeting room—a powerful bunch, the ones that wield influence, the ones that decide—deliberating on what we need to do more of in order to unlock women’s economic potential.

Why is this work important to APEC? Because we represent 1.5 billion women and girls across our economies—1.5 billion women and girls who do not enjoy the same opportunities, prosperity, freedoms or rights as their male counterparts.

 

2023 APEC Economic Leaders’ Week: Media Registration Open

Issued by the APEC Secretariat

Singapore, 15 September 2023

Media registration for the 2023 APEC Economic Leaders’ Week (AELW) to be held in San Francisco from 11-17 November is now open. The United States President Joseph R. Biden, Jr will chair the APEC Economic Leaders’ Meeting.