By Janet Ekstract NEW YORK – The Asia Pacific Economic Cooperation (APEC) Forum meetings began on Friday in Lima, Peru with this year’s theme Empower, Include, Grow. The forum which promotes trade, investment and economic development for countries in the Asia-Pacific region is hosting a number of world leaders and will focus primarily on digitalization, sustainability, trade, investment and a host of other key issues affecting the region. The APEC Summit 2024 designated Peru as the host economy for the 2024 summit. Peru’s Ambassador Carlos Vasquez who gave opening remarks at the Informal Senior Officials’ Meeting plenary prior to the summit, explained: “Our host year will build consensus, ensure continuity and relevance to the APEC economic cooperation agenda, during what continues to be a challenging and uncertain international environment.” Vasquez added that it’s urgent for APEC to continue producing results based on its pillars and its long-term commitment to international cooperation as the mainstay for achieving growth.
As Vasquez underscored: “In today’s world, prosperity is no longer based on the mere accumulation of material wealth, but on resiliency, inclusion and sustainability.” He also emphasized “the importance of human capital as the main asset for economies to grow and develop, we need a people-centered approach to development.” Dr. Rebecca Sta Maria, Executive Director of the APEC Secretariat highlighted that data and research reveal that a plethora of individuals, especially “women and groups with untapped potential are involved in the informal sector.” She added: “It is crucial for APEC to work on practical measures to include more people into the economy and global value chains, including to facilitate the transition of the informal to formal economy.” The summit will focus on three priorities: Trade and investment for inclusive and interconnected growth, Commitment to resilient inclusive economic growth. Prior to the summit’s opening, Peru’s President Dina Boluarte spoke to business leaders from the APEC region, reiterating that “collaboration and dialogues” are essential in this commitment that is aligned with the APEC Putrajaya Vision 2040. In attendance include 21 members representing the Pacific Rim for APEC which gathers countries and members that make up two-thirds of the global GDP and half the world’s trade. Some of the prominent world leaders attending include
U.S. President Joe Biden, Chinese President Xi Jinping, Canada PM Justin Trudeau, Indonesian President Prabowo Subianto, Japanese PM Shigeru Ishiba and Australia PM Anthony Albanese among others.
Photo : AA
