APEC News :APEC App Challenge Unveils Winners: Transforming the Digital Landscape for Small Business Owners

APEC App Challenge Unveils Winners: Transforming the Digital Landscape for Small Business Owners

Issued by the APEC Secretariat

Singapore, 31 August 2023

The culmination of months of creativity, collaboration and cutting-edge development has resulted in the selection of winners for the highly anticipated 2023 APEC App Challenge. 

The APEC App Challenge—established seven years ago to foster innovation and tackle economic priorities through the use of technology—has produced a lineup of outstanding applications that promise to help small business owners and groups with untapped economic potential participate and benefit in the global, digital marketplace.

APEC Bulletin 28 August 2023

APEC Bulletin 28 August 2023

Fragile Recovery and Intertwined Challenges
By Rhea Crisologo Hernando and Carlos Kuriyama

Prevailing uncertainties, warming temperatures and faltering trade


The APEC region tracks a delicate economic recovery amid ongoing uncertainties in the economic and geopolitical landscapes even as extreme weather and trade-restrictive measures add to the challenges.

Risks have moderated as authorities have been taking actions to bring down inflation and address financial turmoil in the US and Europe. However, inflation could rise anew as geopolitical factors and the El Niño weather phenomenon translate to supply shocks and infrastructure damage. Added to these are debt sustainability concerns, aggravated by high interest rates, which have increased economic vulnerabilities. The accumulation of trade-restrictive measures amid geoeconomic fragmentation could adversely affect trade growth.


Moderated economic growth and reduced inflation rates
The APEC region moderated by 3.9 percent in Q1 2023, lower than the growth rate of 5.8 percent in Q1 2022. Compared to the projections in the May 2023 APEC Regional Trends Analysis, APEC GDP growth is expected to increase by 0.1 percentage point to 3.2 percent in 2023, with growth in 2023 and 2024 remaining unchanged at 2.8 percent and 2.9 percent, respectively.

APEC News

Director Klein’s Statement on the 2023 APEC Women and the Economy Forum

Issued by the APEC Women and the Economy Forum

Seattle, The United States, 20 August 2023

Director of the White House Gender Policy Council Jennifer Klein shared with ministers a statement that reflects the commitments and way forward for APEC to advance women’s economic participation in the region.

The statement laid out the priorities discussed during the High-Level Policy Dialogue on Women and the Economy, chaired by Director Klein on Sunday in Seattle and provided policy directions for member economies to support the implementation of the La Serena Roadmap on Women and Inclusive Growth.

APEC News

Secretary Granholm: There is No Option but to Work Together to Save the Planet

Issued by the 13th APEC Energy Ministerial Meeting

Seattle, The United States, 15 August 2023

“As our energy sectors evolve, you can't just have an energy transition, it must also be just,” said the United States’ Secretary of Energy Jennifer M. Granholm on Tuesday. 

“The bottom line is, there is no option but to work together. Our greatest challenges can be our best opportunities and that none of us is alone in this fight to save the planet.”

Secretary Granholm opened the 13^th APEC Energy Ministerial Meeting by exhorting her counterparts from APEC member economies to face climate change by pursuing a just energy transition.

Ministers convened in Seattle against the pressing backdrop of extreme weather events exacerbated by climate change and volatile energy markets. The last time ministers met was eight years ago in 2015. 

“There is no rational discussion of our energy future which is not also about climate change, and there's no serious discussion about climate change which is not also about energy,” Secretary Granholm added.

Secretary Granholm noted the progress that member economies have made has been significant since the time they last met, including increasing the collective renewable capacity by more than 50 percent and updating the energy security initiative to reflect the transition to modern energy systems, among others.

Secretary Granholm reminded ministers that in many ways the APEC region has come to define the world energy economy where APEC’s 21 members account for 56 percent of world energy demand, 58 percent of world energy supply and 68 percent of electricity generated.

“Now we need to up our ambition and we need to hone in on our top priorities,” Secretary Granholm urged. “As energy ministers, we will not only help pave a path out of climate hazards, but also toward the opportunities at the heart of clean energy transitions.” 

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

 

Good Regulatory Practices for Better Policies, Greater Benefits for the Public

Issued by the APEC Sub-Committee on Standards and Conformance

Seattle, The United States, 11 August 2023

Regulators need to strive to do better in designing policies that are balanced, equitable and eliminate undue burdens on groups such as small businesses and others with untapped economic potential, said experts at a good regulatory practices conference in Seattle on Thursday.

“We must never forget that at the core of everything we do, we aim to make people’s lives better,” said Richard Revesz, Administrator of the United States Office of Information and Regulatory Affairs, in his keynote address at the conference.  

“Efforts to reduce burdens, modernize regulatory review and pursue international regulatory cooperation are all means of pursuing our larger, collective aim: ensuring that regulations improve people’s lives, particularly those in underserved communities,” Revesz said. 

The 16^th Conference on Good Regulatory Practices, held in Seattle on the margins of the Third APEC Senior Officials’ Meeting and Related Meetings, brought together a diverse group of policy experts and regulatory decision-makers from the region to share best practices and discuss how government can make public consultations more inclusive—a key regulatory tool for engaging stakeholders.

A panel of speakers from Canada, Chile, Peru and the United States highlighted that regulators need to do a better job in receiving inputs from all interested and affected persons, identifying specific public concerns, and addressing problems.

They stressed that regulations affect diverse groups differently, and it is crucial to develop a better, honest and more transparent approach in reaching various groups, establishing relationships and engaging the public for their views.

“The regulatory actions of any one economy can affect international trade and investments as the world becomes smaller and more interconnected,” said Kent Shigetomi, Chair of the APEC Sub-Committee on Standards and Conformance. 

“Good regulatory practices provide predictability and stability for traders and investors, but when used in the regulatory process also deliver greater economic and social benefits for the citizens of our economies,” Shigetomi added. 

Regulatory authorities also explored how they can innovate and use technology tools to manage the regulatory process such as conducting consultations, managing comments and reviewing regulations. 

“Core good regulatory practices such as the use of regulatory impact assessment, public consultation, and reliance on international standards, are crucial in developing policies and regulatory responses as we’re facing transboundary policy challenges like greening the economy,” said Renee Hancher, Director of Regulatory Policy from the Office of the United States Trade Representative, the public sector overseer of the APEC-funded project.

“There is also increasing focus on equity and inclusiveness in regulatory decision-making,” Hancher added. “We need to continue to build capacity among trade and regulatory officials in the region to produce better outcomes for all of our people.”

As the host economy of APEC 2023, the United States is putting forward a blueprint document for advancing good regulatory practices, which will feature updated tools, regulatory processes and regulatory flexibility measures that support innovation and growth. 

The blueprint aims to support economies’ good regulatory efforts to incorporate new concepts, such as inclusiveness and regulatory agility, as well as practices that can improve the effectiveness of member economies’ legal infrastructure which also contributes to reducing barriers to trade and encouraging sustainable economic growth. 

 

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

 

Secretary Becerra’s Statement on the 13th APEC High-Level Meeting on Health and the Economy

Issued by the 13th APEC High-Level Meeting on Health and the Economy

Seattle, The United States, 6 August 2023

Noting the interconnectedness of health and the economy that was demonstrated by the COVID-19 pandemic, the United States Secretary of Health and Human Services Xavier Becerra released a statement supporting APEC’s work to prevent, prepare for, and respond to future pandemics and health emergencies.

Read the Chair’s Statement

Through his statement, Secretary Becerra highlighted the integral role of health financing, innovative digital health solutions, delivery of health services and readily available primary health care, as well as equitable models of care to healthy people and healthy economies.

The statement also stressed ministers’ commitment to continue intensifying work

APEC update

 

Public and Private Groups Unite for Collective Action Against Corruption

Issued by the APEC Anti-Corruption and Transparency Experts Working Group

Seattle, The United States, 4 August 2023

Ethical business conduct is vital to the sustainable growth of APEC economies and the competitiveness of the region’s businesses. High standards in business ethics are crucial to creating an enabling environment and contributing to the sustainable growth of small and medium-sized enterprises (SMEs). 

Public and private sector experts convened this week in Seattle to share best practices and innovative government strategies to encourage ethical business practices and identify opportunities to pilot strategies in APEC member economies.

Efforts to promote ethical business conduct is particularly important to the region as governments and economies recover from COVID-19. While businesses are obliged to adopt ethical practices and compliance activities, there is an opportunity for governments to take proactive steps to encourage anti-corruption prevention measures. APEC members have committed to bolster and promote public-private partnerships recognizing the important role of the private sector in fighting corruption.

“We consistently bring in the private sector as critical actors in the fight against corruption to help level the playing field and improve the international business climate,” said Richard Nephew, Chair of the APEC Anti-Corruption and Transparency Experts Working Group (ACTWG). “This is especially critical for small businesses, which often do not have the same resources to mitigate credit risks as larger entities.”

APEC,update

 

APEC Urges Implementation of Disaster Early Warning Systems to Save Lives

Issued by the APEC Emergency Preparedness Working Group

Seattle, The United States, 2 August 2023

APEC member economies are accelerating the implementation of robust early warning systems to strengthen risk management and advance disaster risk reduction for all of the Asia-Pacific communities, including those most vulnerable to disasters by 2027.

APEC update

 

Ministers, Officials Push for Green Growth, Economic Resilience as Meetings in Seattle Begin

Issued by the APEC Secretariat

Seattle, the United States, 29 July 2023

APEC member economies commence a major cluster of meetings in Seattle, making a broad-based push to improve economic resilience and interconnectedness, enable an innovative environment for a sustainable future and affirm an equitable future for all. 

Over the next three weeks, officials and ministers are meeting against the backdrop of a weak global economy outlook and fragmentation, persistently high inflation, as well as extreme heat caused by El Niño – all of which hamper economic recovery as the region emerges from COVID-19.

APEC latest

 

APEC’s 2023 Science Prize Nominations Announced

Issued by the APEC Policy Partnership on Science, Technology and Innovation

Singapore, 19 July 2023

Sixteen young scientists from the 21 APEC member economies are advancing environmental resiliency and sustainability in the region and have been nominated for this year’s APEC Science Prize for Innovation, Research and Education (ASPIRE).

The science prize recognizes researchers who have demonstrated remarkable achievements in transformative scientific research through collaboration with other scientists from APEC member economies.

This year’s prize theme, selected by the United States as the APEC 2023 host, is “Inclusive Science, Technology, and Innovation for a Resilient and Sustainable Environment” with a focus on promoting diverse perspectives and an inclusive scientific ecosystem.

APEC update

 

Last Call: Media Registration for Six Ministerial Meetings and Third Senior Officials’ Meeting in Seattle

Issued by the APEC Secretariat

Singapore, 18 July 2023

Media registration will soon close for the upcoming ministerial and technical meetings to be hosted in Seattle, Washington.

From 29 July to 21 August, more than 2,000 delegates from the 21 APEC member economies will convene in Seattle, Washington for the Third APEC Senior Officials’ and Ministerial Meetings (SOM3). 

Spanning nearly three weeks, these meetings will advance a broad range of economic priorities within the Asia-Pacific region including on disaster management, finance, food security, health, energy and small and medium-sized enterprises, in addition to the APEC Digital Month, an initiative by the APEC 2023 to achieve an interconnected, innovative and inclusive digital economy. 

Multiple cabinet officials from the United States, including Secretary of Agriculture Tom Vilsack, Health and Human Services Secretary Xavier Becerra; and Secretary of Energy Jennifer Granholm will host their counterparts while in Seattle, and showcase the vibrant city as the center of international commerce.

Registration procedure:

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

Interested media should apply for a credential through the accreditation application form no later than Saturday, 22 July at 17:30 Eastern Time. We encourage all media organizations to ensure accreditation is submitted for additional personnel/correspondents in case of contingencies (e.g., illness, assignment rotations, etc). No late or last-minute exceptions will be permitted.

Key events and media opportunities:

Media representatives should expect opening remarks from ministerial meetings will be available for coverage, and subsequent news conferences, spanning the full meeting dates:

• Wednesday, 2 August: Senior Disaster Management Officials Forum, chaired by Federal Emergency Management Agency (FEMA) Administrator Deanne Criswell
• Thursday, 3 August: Food Security Ministerial Meeting, chaired by the United States Agriculture Secretary Tom Vilsack
• Sunday, 6 August: High Level Meeting on Health and the Economy, chaired by the United States Health and Human Services Secretary Xavier Becerra
• Tuesday, 15 August: Energy Ministerial Meeting, chaired by the United States Energy Secretary Jennifer Granholm
• Friday, 18 August: Women and the Economy Forum (WEF), chaired by Assistant to the President and Director of the White House Gender Policy Council Jen Klein
• Monday, 21 August: Small and Medium Enterprises Ministerial Meeting, chaired by the United States Under Secretary of Commerce for International Trade Marisa Lago

Participating member economies, and public and private-sector officials from the City of Seattle and State of Washington, may schedule informal or formal media opportunities throughout the duration of SOM3 and related ministerial meetings, with or without advance notice.

International Media Center:

The host will provide an international media center (IMC) within the APEC venues, consisting of unassigned workspace and limited escort within the venue to interview delegates or conduct live shot/stand-up broadcasts. Unassigned workstations are available at no charge on a first-come, first-serve basis, and will include complimentary wireless internet access and power outlets (North American 120V).

International media center operational hours will be transmitted directly to accredited media.

Media organizations wishing to inquire about live transmission vehicle parking should email summitmedia@state.gov by 22 July 2023.

The host will make available video and still images of the APEC events in Seattle as “clean” (no graphics/chyrons) in NTSC 1080i on a complimentary basis. Events will be streamed live and available for download.

Additional questions, technical Inquiries and contact information:

Please email summitmedia@state.gov with any logistical media inquiries. For broader press inquiries regarding the APEC, please contact EAP-Press@state.gov.

Media or editorial/interview inquiries to individual agencies can be referred to the following points of contact directly:

• Senior Disaster Management Officials Forum: FEMA-News-Desk@fema.dhs.gov
• High Level Meeting on Health & Economy: Ilse.Zuniga@hhs.gov
• Food Security Ministerial Meeting: press@usda.gov
• Energy Ministers’ Meeting: DOENews@hq.doe.gov
• Women and the Economy Forum: SGWI_PA@state.gov
• Small & Medium Enterprises Ministerial Meeting: publicaffairs@trade.gov

For more:

The entire Third APEC Senior Officials’ Meeting and Related Meetings schedule in Seattle from 29 July to 21 August can be viewed here.

 

For further details, please contact:

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

ΑPEC update

 

Media Registration for Six Ministerial Meetings and Third Senior Officials’ Meeting in Seattle Opens

Issued by the APEC Secretariat

Singapore, 10 July 2023

Media registration for the upcoming ministerial and technical meetings to be hosted in Seattle, Washington, is now open. 

From 29 July to 21 August, more than 2,000 delegates from the 21 APEC member economies will convene in Seattle, Washington for the Third APEC Senior Officials’ and Ministerial Meetings (SOM3). 

Spanning nearly three weeks, these meetings will advance a broad range of economic priorities within the Asia-Pacific region including on disaster management, finance, food security, health, energy and small and medium-sized enterprises, in addition to the APEC Digital Month, an initiative by the APEC 2023 to achieve an interconnected, innovative and inclusive digital economy. 

Multiple cabinet officials from the United States, including Secretary of Agriculture Tom Vilsack, Health and Human Services Secretary Xavier Becerra; and Secretary of Energy Jennifer Granholm will host their counterparts while in Seattle, and showcase the vibrant city as the center of international commerce.

APEC News

APEC Steps Up Environmental Services Efforts and Marine Debris Clean-Up

Issued by the APEC Group on Services

Singapore, 5 July 2023

APEC released a set of guidelines to further the forum’s work on environmental services and marine debris management. The guidelines encourage member economies to facilitate services that support the clean-up of marine debris from beaches, rivers, coastal areas, and the open ocean.

Marine debris refers to plastic and other litter, discarded and lost fishing equipment, industrial rubbish, and other human-created waste that enters the seas and oceans. A 2020 report by APEC Ocean and Fisheries Working Group estimated that marine debris costs the region nearly USD11 billion annually and will reach USD216 billion in 2050.

The APEC Non-binding Guidelines on Services that Support the Clean-up of Marine Debris were welcomed by APEC Ministers Responsible for Trade when they met in Detroit last May. 

“Under the guidelines, APEC members will, amongst other things, endeavor to promote trade and investment in marine debris clean-up services and to reduce relevant barriers,” said Thomas Fine, Convenor of the APEC Group on Services.

The group spearheaded the development of these guidelines, drawing from the APEC Reference List on Environmental and Environmentally Related Services endorsed at the 2021 APEC Ministerial Meeting.

“Economies will work together to develop a market for marine debris clean-up services, including by reviewing unnecessarily restrictive regulations, by fostering private sector engagement, and by facilitating the transition to a circular economy,” Fine added.

“While the best solution to the marine debris challenge is to stop plastic pollution from reaching the oceans in the first place, there is also an urgent need to strengthen marine debris clean-up efforts, the burden of which too often falls on coastal communities in developing economies,” said Fine.

The 2019 APEC Roadmap on Marine Debris underlined the severity of the challenge and APEC members’ desire to address it by encouraging collaboration on promoting relevant research and innovation, as well as knowledge-sharing.

“The economic cost of inaction on cleaning up marine debris is far-reaching,” said Dr Rebecca Sta Maria, Executive Director of the APEC Secretariat. “Marine debris not only impact operations of marine shipping and transport vessels, but also the tourism sector as debris get washed up on beaches and our shores. Add to this the impact on marine life in general, and the fishing industry specifically,”

“These guidelines will support our work in addressing a key environmental issue for our ocean bound region, reiterating the key role that APEC plays in supporting green growth,” Dr Sta Maria concluded. 

The guidelines recommend members to facilitate people movement and skills, making it easier for service providers and researchers to conduct business and access the market. It also asked members to consider giving providers’ vessels access to ports facilities.

To read the full recommendations of the APEC Non-Binding Guidelines on Services that Support the Clean-up of Marine Debris visit this page.

 

For further details, please contact:

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

APEC News

APEC Bulletin 30 May 2023


Uneven Recovery in the APEC Region amid Uncertainty
By Rhea Crisologo Hernando and Carlos Kuriyama

Rising interest rates, unwinding of massive fiscal support and stubborn inflation dampen growth


The global economy continues to grapple with the cost-of-living crisis as relatively high inflation persists while financial sector strains have emerged as monetary policy rates increased. Fiscal space has narrowed as debts surged following massive stimulus measures to preserve lives and livelihoods amid the pandemic. Despite these efforts, income levels have not recovered to pre-pandemic levels in most APEC economies and inequality has widened as the pandemic hit the most vulnerable populations the hardest.

Slow and uneven growth, high inflation
Medium-term projections point to growth hovering between 2.8 to 2.9 percent, the lowest GDP growth in 20 years, excluding the 2008-2009 global financial crisis (GFC) and the pandemic-related economic recession. Tighter financial conditions and narrowing fiscal space resulted in lower GDP growth for the global economy and the APEC region as debts surged amid the pandemic-dampened economic activity. In particular, APEC grew at a slower pace of 2.6 percent in 2022 from 6.2 percent in 2021. Growth is expected to remain uneven, with only nine APEC economies growing above 3 percent in 2023.

Supply-demand imbalances compounded by geopolitical issues put an upward pressure on prices. APEC inflation reached 5.9 percent in 2022 from 2.9 percent in 2021. The inflation outlook has been adjusted slightly upwards to 4.4 percent in 2023, before declining to 2.9 percent in 2024. Most APEC economies have been using monetary policy tools at their disposal, such as implementing interest rates hikes, to stem inflationary pressures.

ASIA-PASIFIC ECONOMIC COOPERATION's latest

 

Secretary Buttigieg’s Statement on the 11th APEC Transportation Ministerial Meeting

Issued by the 11th APEC Transportation Ministerial Meeting

Detroit, the United States, 19 May 2023

At the conclusion of the 11th APEC Transportation Ministerial Meeting in Detroit, the United States Secretary of Transportation Pete Buttigieg released a statement summarizing the substantive efforts made collectively by APEC Transportation Ministers towards a safe, inclusive, resilient and sustainable recovery from the global pandemic.

Read the chair’s statement.

Through his statement, Secretary Buttigieg reiterated the critical role that transportation plays in driving economic growth and opportunity, facilitating trade and investment, keeping supply chains open, secure, efficient and resilient, as well as improving connectivity across the Asia-Pacific region.

The statement noted the value of cooperation on supply chains and connectivity and stressed the need to support essential supply chain workforces.

APEC News

Buttigieg: Address Supply Chain Disruptions in Transportation and Connect Communities

Issued by the 11th APEC Transportation Ministerial Meeting

Detroit, The United States, 16 May 2023

The United States Secretary of Transportation Pete Buttigieg opened the APEC Transportation Ministerial Meeting on Tuesday by emphasizing the need to build stronger supply chains and significantly reduce greenhouse gas emissions in the transportation sector to create good jobs and economic growth that benefits everyone.

“We gather in the awareness that so many challenges to achieving prosperity in any economy are challenges facing every economy, and often such challenges have particularly great impact on the Asia-Pacific region and demonstrate the region's importance,” said Secretary Buttigieg in his opening remarks at the meeting.

“Pandemic driven supply disruptions, increasingly frequent extreme weather events, and economic inequality, these challenges don't just affect one economy while sparing the others, they affect us all,” added Secretary Buttigieg. “These challenges are often shared opportunities that grow even more promising through dialogue and exchange.”

He underscored the importance of supply chains resilience, highlighting that many economies are continuing to deal with major challenges to global supply chains and it is crucial to strengthen the region’s supply chains as this will ensure “that the flow of goods that powers our economies succeeds and protect peoples against the higher prices that come from disruptions.”

As he welcomed his counterparts to Detroit, a city with a transportation tradition dating back many generations, Secretary Buttigieg highlighted the city’s role in leading the automotive revolution and shaping the future of the automotive sector.

Secretary Buttigieg underlined the importance of a transportation system that empowers and unites communities by sharing an example of a project planned by the local community and supported by the US Department of Transportation to reconstruct and redesign a major highway in Detroit, Interstate 375, that was built in 1967 and cut off many communities from economic opportunities in the city.

“With help from USD100 million in funding from our department, the state and the city are acting to replace this highway with the boulevard that connects neighborhoods with safer walking bicycling and driving and fosters more economic growth that makes everyone better off.”

The two-day dialogue will hear how Ministers’ work to improve the functionality and resiliency of supply chains and how to better connect economy-level efforts to the APEC goals of regional connectivity to drive economic growth, opportunity and job creation.

Ministers will also discuss specific efforts and measures to accelerate low and zero-emissions transportation technologies in the region including the transition to electric vehicles, uptake of sustainable aviation fuels and the rollout of green maritime technologies and fuels—all of which can create good-paying jobs while harnessing innovation.

“Detroit is known for putting the world on four wheels. It is also the city where auto unions took form and helped to create a middle class of workers that remains a backbone of US economic prosperity,” Secretary Buttigieg continued.

“We carry that lesson forward to today as we plan for the future,” he concluded. “I know we will approach these coming days with openness and with ambitions to match the scale of opportunity and transportation and I'm deeply optimistic about the work we will do to make our people's lives safer fairer and more prosperous.”

Earlier on Monday, APEC Transportation Ministers discussed electric vehicle financing with the Detroit Mayor Mike Duggan as well as with leaders representing the auto industry, workers, the charging and banking industry and the Federal Highway Administration.  

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For further details, please contact:

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