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Issued by the APEC Ministers Responsible for Trade Meeting

Viet Nam Prime Minister Nguyen Xuan Phuc has called upon Trade Ministers from the 21 APEC member economies to step up efforts to expand the advantages of market integration and trade, underscoring the facilitating role that cooperation in APEC must play to achieve the shared goal of greater prosperity for all in the Asia-Pacific.

Prime Minister Phuc addressed Trade Ministers meeting on Saturday and Sunday in Ha Noi to detail their economies' perspectives on the future of trade policy and establish greater alignment between them to ensure continued recovery in trade and economic growth in the fast-changing, uncertain globalized environment.

"The Asia-Pacific is witnessing multiple changes in politics, economy and technology," Prime Minister Phuc said. "Cooperation plans and their fine goals might still fail to turn into reality when we lack trust, political determination and coordination to safeguard a peaceful environment, ensure security and safety for investment, and the flows of goods in the region."

On the table for Trade Ministers is fostering the way forward for regional economic integration and the multilateral trading system. They are considering unfolding developments, including the progress of trade agreement negotiations and implementation, protectionist trends and avenues for reducing trade barriers, as well as a briefing from World Trade Organization Director-General Roberto Azevedo on the global trade outlook.

Complementary focus for Trade Ministers is on establishing pathways to more sustainable, innovative and inclusive growth that addresses rising concerns about the unequal distribution of globalization's benefits and the impact of technological change on market demand and people's livelihoods. This includes opening up small business participation in trade, supported by new digital tools and opportunities to tap into cross-border production and supply chains.

"Advanced technologies have generated many opportunities but, at the same time, brought about substantial economic, cultural and social challenges," Prime Minister Phuc noted. "APEC is aiming for a truly connected Asia-Pacific in terms of the people, infrastructure, technology and information in order to facilitate economic growth, trade and investment, and comprehensive institutional reform in each and every member economy."

"APEC should step up economic and technical cooperation, experience and information sharing during the process of policymaking and implementation of cooperation programs to enhance the effectiveness and distinguish APEC cooperation," Prime Minister Phuc added.

Trade Ministers are convening against the backdrop of improving trade and growth data coming out of APEC member economies.

"Momentum is picking up and thus the Asia-Pacific should uphold its role, strengthen economic and technical cooperation, enhance collective efforts to lead the path of development and prosperity," said Viet Nam Industry and Trade Minister Tran Tuan Anh, chair of the APEC Ministers Responsible for Trade Meeting.

"We gather here to better promote trade and investment liberalization and facilitation, and strengthen economic and technical cooperation in APEC for the sake of shared development and prosperity," Minister Tran concluded. "We are determined to build the inclusiveness of APEC, to ensure that the growth, globalization and free and open trade and investment we champion will be beneficial to all people and do not leave anyone behind."

Video: Prime Minister Phuc remarks to APEC Trade Ministers



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Issued by the APEC High Level Policy Dialogue on Sustainable Tourism

Senior tourism officials from the APEC member economies have agreed to step up cooperation with the private sector to better manage the disruptive effects of digital innovation on Asia-Pacific travel and tourism, intent on ensuring newly reported industry growth in the region. 

APEC economies received a total of 415 million international tourists in 2016, up 24 million or 6.1 per cent year-on-year compared to 3.9 per cent globally, according to World Tourism Organization data presented to officials during a key policy meeting in Ha Long Bay—Viet Nam's famed world heritage site. 

Boosted by this rise in tourist traffic, the industry accounted for 6.1 per cent of APEC economies' exports and directly contributed USD 1.3 trillion to their GDP last year. It also directly supported 67 million jobs in the region. Digital technologies are enabling industry growth and higher living standards for more people but also raising new sustainability concerns, underscored delegates. 

"The fourth industrial revolution is forecasted to create major changes for the world as a whole, and for the tourism sector, in particular," said Viet Nam Minister of Culture, Sports and Tourism Nguyen Ngoc Thien, who chaired the meeting. "We will need to work together to ensure the industry's socioeconomic benefits for all." 

Officials committed to work with the travel and tourism industry to help governments and businesses adapt to new technologies – from advanced passenger information systems and biometric profiling, to digital marketing and accounting solutions – and realize the goal of 800 million international tourist arrivals in APEC economies by 2025. Tackling human resource development and management challenges will be a particular focus. 

"Improvements in online booking, passenger screening and infrastructure, including the rise of accommodation and transport sharing platforms, are making tourism easier and more affordable than ever in the Asia-Pacific," explained Dr Alan Bollard, Executive Director of the APEC Secretariat. "It is imperative that workforces across the region be properly trained and deployed to fully capitalize on these gains." 

"Tourists flows in APEC present enormous opportunities for businesses, especially small local operators that support tens of millions of jobs," Dr Bollard concluded. "We are opening up public-private information sharing to ensure policies and licensing schemes are in place to prepare them to accommodate larger crowds and protect the region's amazing urban and natural environments that are such a draw." 

Priority actions to be implemented by APEC economies to promote sustainable tourism in these and related areas are outlined in a High Level Statement endorsed by officials at the conclusion of their meeting. 



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Issued by the APEC Policy Partnership on Women and the Economy

As technology becomes integrated throughout all corners of the economy, the importance of skilled labor in science, technology, engineering and mathematics (STEM) has increased over time. However, there is still a significant gender gap in these fields that needs to be addressed within APEC's 21 member economies. 

"We know from the data that there is an under-representation of women in STEM fields – not only as students and researchers, but also as managers, leaders and entrepreneurs – which significantly hinders sustainable economic growth and prosperity throughout the region," said Ann Katsiak, ‎Chief of Party for US-APEC Technical Assistance to Advance Regional Integration. 

APEC's Policy Partnership on Women and the Economy aims to narrow this gender gap and facilitate women in STEM by implementing a framework it designed that addresses barriers for women to excel in this field. 

"The heart of economic growth and prosperity depends so much on science, innovation and technology. Even more, that growth is contingent upon our ability to reduce barriers and to nurture women's economic participation," explained Lisa Brodey, Acting Chair of APEC's Policy Partnership on Science, Technology and Innovation. 

The multifaceted APEC Women in STEM framework encompasses four key areas for improving the representation of women in STEM fields: an enabling environment, education, employment and entrepreneurship. Each area spotlights other issues that require more attention such as culture, diverse experience and history, access to capital and recruitment, as well as laws and regulation. 

The framework also contains an analysis of current conditions and nuances of women's participation in STEM, describes barriers and recommends what economies can do to better facilitate and expand women in STEM across all areas of engagement.

Government officials, academics and practitioners are taking steps toward implementing these recommendations. This includes encouraging companies to publicly commit to gender-inclusive recruitment policy and advocate for the development of public policy agendas that call for the public and private sectors to actively encourage women's participation in STEM fields. It also inspires girls from an early age to envision themselves in STEM careers and welcomes the establishment of non-profit organizations that provide skills training to girls and women. 

"With the right policies that support inclusivity, economies can help women to strive in STEM fields. In Malaysia, we have increased the number of women researchers by putting in place policies that allow women to excel in STEM education and careers," noted Dr Halimaton Hamdan, a renowned chemistry researcher and Professor at Malaysia's Academy of Sciences. 

"More than putting policies in place, if we want to push women to go ahead and excel in STEM fields, we have to build motivation, tell more success stories, give more role models to look up to and create a strong community that can support other women," concluded Supapan Seraphin, Distinguished Professor Emerita in the Department of Materials Science and Engineering at the University of Arizona in the United States. 



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Issued by the APEC Committee on Trade and Investment

Trade officials from APEC member economies and the USD1.3 trillion fashion industry have sewn a new partnership to make it easier for up and coming designers in the Asia-Pacific to build their brands and trade internationally. 

Under the arrangement, officials, together with fashion designers and industry groups, have commenced work to reduce cross-border business barriers and better position designers to integrate into production and supply chains that can enable them to "go global." 

They are focused on advancing policies in APEC economies to support these goals based on public-private sector information sharing and the findings of companion research by the Chinese University of Hong Kong—host of the APEC Study Centre in Hong Kong, China. 

It is part of a broader initiative in APEC to open up trade opportunities for small business in high-growth services sectors via international production and supply chains, and which includes comparable efforts underway in logistics, software and tourism. 

"Our aim is to help emerging firms in APEC go global by creating an environment that enables them to crack into services trade," explained Marie Sherylyn Aquia, Chair of the APEC Committee on Trade and Investment, which administers the initiative. 

"We see considerable room for small fashion houses to become more competitive and access partners, suppliers and customers overseas," added Monica Chen, Assistant Director-General of Trade and Industry in Hong Kong, China, overseer of the initiative's fashion industry stream. 

Apparel, hosiery and accessories business in the Asia-Pacific accounts for more than a third of the fashion industry's total value worldwide and two per cent of the region's GDP. The Asia-Pacific is also one of the industry's fastest growing regions, increasing 3.6 per cent in 2016. The implications for trade are significant, with fashion already accounting for as much as 12.5 per cent of exports among APEC economies. 

It is powered by value chains consisting of companies large and small across the region and globally that play complementary roles in production and supply lines. Designers are their creative center, determining product distinctiveness, form and success, but they must also team with researchers, producers, distributors, marketing agencies, and support services providers. 

Top challenges to their integration into value chains include knowledge and skills gaps in areas such as production methods, new materials and technologies, and management, as case study and survey analyses by the APEC Study Centre in Hong Kong, China reveal. Business model innovation, effective use of data and digital tools, and labor and environmental issues are parallel concerns. 

"The integration of small fashion businesses from the region into global value chains can enable them to compete internationally through upgrades in their processes, products and functions but it isn't automatic," noted Dr Andrew Yuen of the Chinese University of Hong Kong's Department of Decision Sciences and Managerial Economics, and Associate Director of the APEC Study Centre in Hong Kong, China. 

Its policy recommendations include support for general financing schemes and tailor-made financing channels, talent development and technological adaptation, sourcing information and manufacturing quality assurance. Public-private backed designer competitions, low-rent retail spaces for startups, fashion shows and global branding campaigns like "Cool Japan" and "Fashion Hong Kong" are also encouraged. 

"The fashion industry is both a major creator of jobs and growth, and an important way of promoting cultural identity on an international stage that can bring substantial benefits to other sectors in an economy," said Chungmin Lee, CEO of fashion market consultancy Trendlab 506 in Korea—fashion accounts for some 300,000 jobs in Korea alone, according to APEC Study Centre in Hong Kong, China research. "Efforts in APEC to work with designers and industry peers to take this process forward are encouraging," concluded Lee. 

Trade officials will assess the overall progress of APEC's value chain integration initiative and take next steps when they convene in Ho Chi Minh City, Viet Nam in August. 

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Issued by the APEC Electronic Commerce Steering Group

Korea has become the latest member of the APEC Cross-Border Privacy Rules System, strengthening the growth potential of the e-commerce sector and protection of the rapidly increasing volume of sensitive consumer data used in online transactions in the Asia-Pacific. 

The integration of Korea's privacy laws with the system – a voluntary, accountability-based scheme that facilitates data flows among participating APEC economies – will help to safeguard personal and corporate information from unauthorized disclosures and fraud. Korea is the system's fifth participant, joining Canada, Japan, Mexico and the United States. 

Retail consumers in the Asia-Pacific alone purchase around USD 1 trillion worth of goods and services online annually, accounting for just over half of global spend and with growth surging. In Korea, mobile-based retail sales notably jumped 42 per cent year-on-year in 2016, according to Nielsen. It is a trend that is opening up vast digital trade opportunities and underscores the importance of the robust protection of data. 

Examples include identity numbers, bank account and credit card information, medical records, travel documents, and email and instant message content, among others. 

"Korea's entry into the APEC Cross-Border Privacy Rules System is a major boost for e-commerce development and its capacity to securely drive entrepreneurship and trade in the Asia-Pacific region," said Shannon Coe, Chair of the APEC Electronic Commerce Steering Group, which administers the initiative. 

Under the APEC Cross-Border Privacy System, privacy policies and practices of companies operating in participating APEC economies follow a set of commonly agreed rules based on the APEC Privacy Framework. Such companies are assessed and certified by a third-party verifier known as an Accountability Agent. 

By aligning the domestic privacy laws of participating APEC economies, the system reduces barriers to information flows that underpin digitally-based trade between them. Firms certified by a recognized Accountability Agent are free to promote their adherence to the system's privacy standards as a way of building trust with customers and business partners. 

"The system is designed to promote confidence in the online marketplace by deterring threats to data privacy and security," explained Coe, who is also an official with the United States Department of Commerce's Office of Digital Services Industries. "In doing so, it facilitates data flows increasingly central to people's daily lives and that will shape the future of our economies." 

The growth and development of everything from apps, cloud computing and social media to biometrics, GPS information and online payments ultimately depends on a secure operating environment that APEC is seeking to ensure. 

"As e-commerce expands opportunities for businesses big and small, it is imperative that we deploy policies that enable transfers of data necessary for them to capitalize," Coe concluded. "Korea's inclusion in the APEC Cross-Border Privacy System helps to do just that and paves the way for its continued expansion in the region to amplify the benefits." 

E-commerce officials will evaluate the development of the APEC Cross-Border Privacy System and measures for taking it forward when they convene in Ho Chi Minh City, Viet Nam in August. 



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Issued by the APEC Secretariat

Stories of two families from the opposite sides of the Pacific, who tapped the benefits of connectivity and mobility to successfully grow their small businesses, graced the gathering of officials from member economies at the 2016 APEC Economic Leaders' Week. 

These are the stories of the winners of the 2016 APEC Video Contest, now on its second year. APEC asked small business owners and aspiring entrepreneurs to share their stories about how they have used mobile internet technologies to develop and grow commercial ideas.  

"Through the contest, APEC created a way for business owners to articulate and share the benefits of mobile connectivity and how it helped their businesses grow," said APEC Secretariat Executive Director Alan Bollard. 

"These are tangible examples of how APEC's work to promote sustainable and inclusive growth manifests in our communities," said Dr Bollard. "Part of this inclusiveness push is helping small businesses create more jobs by providing opportunities to grow and expand." 

WATCH: Regional Category Winner

WATCH: Host Economy Winner

Regional Category winner Thu Mai Hang from Viet Nam runs the largest tire shop in Hoang Mai district of Ha Noi, with her family. Host Economy Category winner Varinia Teresa Gonzales Zuniga looks after the business model of her family enterprise that provides fava beans to exporters and operates from Cusco, Peru. 


"My family's business now provides employment to women in San Jeronimo in Cusco, where I come from," said Ms Zuniga. "More and more, because of internet connectivity, we close the gap between us and our clients. I look forward to seeing more small business like ours in Peru take advantage of the internet to grow and provide jobs to more people." 

Small and medium enterprises make up more than 95 per cent of the businesses in the Asia-Pacific region. These businesses are growing their markets with the help of internet connectivity that enables them to engage in activities like mobile banking and digital promotions, therefore expanding their access to an unprecedented number of potential clients and partners. 

"Before, my family never thought of going on a holiday together because of the day-to-day business operations," said Thu Mai Hang. "But now, the internet has helped us do more with less time. We can now do mobile banking, promote our shop through our company website, communicate with clients, and monitor the shop remotely. The Internet not only helped expand our business, it helped improved the quality of my family's life." 

The video contest targeting small business was supported by Google. 

APEC is working to see these benefits spread to more people and has been pushing hard for the internationalization of SMEs over the past couple of years. This year, Peru kept the momentum on track by making the modernizaton of small businesses a priority for  APEC Peru 2016. 

For further details, please contact:

(In Lima) Ma. Lizbeth B. Edra +65 9452 8344 or at mlbe@apec.org

(In Lima) Michael Chapnick +65 9647 4847 or at mc@apec.org

More on APEC meetings, events, projects, and publications can be found on www.apec.org. You can also follow APEC on Twitter and join us on Facebook and LinkedIn.



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Peru President Pedro Pablo Kuczynski opened the 2016 APEC Economic Leaders' Meeting in Lima on Sunday by reaffirming confidence in international trade as a mechanism for achieving positive economic and social change. But he exclaimed that more must be done to address concerns about equity and fairness that are fueling an alarming rise in anti-globalization sentiment worldwide. 

Under the theme Quality Growth and Human Development, President Kuczynski, the meeting Chair, underscored the role cooperation between the 21 APEC member economies can play to reinvigorate sluggish trade while opening up opportunities for small businesses and enhancing the compatibility and productivity of the region's workforces. He and fellow APEC Leaders are assessing ways of jointly tackling these challenges and put forward a concrete plan for action. 

"The world today values human and social development. Growth by itself is not enough. We have to do more," said President Kuczynski. "In this APEC meeting, facing a rapidly changing international context, we are going to try to emphasize, strongly, the points we think are important for the inclusive, sustainable growth of the Asia-Pacific." 

Leaders will exchange views on the state of the regional and global economy and, against this backdrop, how APEC can promote voluntary reforms in support of free trade and capital mobility. Leaders will furthermore examine the primary challenges to facilitating greater integration and connectivity around the Asia-Pacific, leveraging the advantages of free trade and investment. 

Parallel focus will be on boosting small business internationalization and participation in international production and supply chains as well as maximizing opportunities offered by digital trade, services and the knowledge economy. APEC's role in addressing key regional food security risks will be an additional emphasis, taking into account changes in supply and demand, and the impact of climate change and water scarcity within the sector. 

"What we would like to see in the next five years is strong growth in the Asia-Pacific region. Growth in trade, in investment, in services, in tourism, in employment because these are the passport to prosperity and we should strongly emphasize that," President Kuczynski explained. "We will discuss how we can move forward in this context." 

President Kuczynski, an economist, and Christine Lagarde, Managing Director of the International Monetary Fund, will set the tone for the proceedings by leading an informal dialogue with APEC Leaders on the global economic landscape. 



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Asia-Pacific business leaders must communicate more effectively the benefits of globalization and address its adverse impacts, according to members of the APEC Business Advisory Council (ABAC) who met this week in Bangkok, Thailand.

ABAC also reinforced the importance of ongoing regional and multilateral cooperation and collaboration between economies. This has facilitated stability and greater coordination of economic and social development amongst economies.

 The world has recently undergone broad structural changes as a result of globalization and technological innovation and while the Asia-Pacific region has broadly benefitted from these shifts, the rate of change and economic integration has also contributed to income inequality, social dislocation, and discontent.

"No economy has developed successfully in modern times without opening its economy to international trade, investment, and the movement of people.  But to continue globalization its benefits need to be more broadly shared.  The objective must be more socially inclusive growth and development," said Hoang Van Dung, the 2017 ABAC Chair. "We in business can do better to demonstrate not just the economic benefits, but also to work with our governments to establish policies that address dislocations and worker skill development."

Globally, trade liberalization has lifted more than a billion people out of poverty over the past three decades. Cooperation in the APEC region over the last 20 years has raised more than 700 million out of poverty, with GDP per capita increasing over 5 times. "This liberalization has made the Asia-Pacific region the most dynamic in the world, and continues to foster optimism about our strength and growth prospects going forward," said Mr. Hoang.

While the net benefits of continuing to liberalize are clear, recognizing the private sector's role in addressing the impact of globalization, ABAC has committed to work with the University of Southern California, Marshall School of Business to develop a study on how the benefits of globalization can be more broadly shared. The report will gather business, government and academic perspectives throughout the APEC region to identify successful approaches and practical steps for achieving more socially inclusive growth and development.

The final report and recommendations will be shared with the 21 APEC Leaders and Ministers at the concluding 2017 APEC meetings in Da Nang, Vietnam.

....................................

ABAC was created by APEC Leaders in 1995 to be the primary voice of business in APEC. Each economy has three members who are appointed by their respective Leaders. They meet four times a year in preparation for the presentation of their recommendations to the Leaders in a dialogue that is a key event in the annual Leaders Meeting.

Under Viet Nam's leadership, ABAC is pursuing a work programme under the theme "Creating New Dynamism, Fostering Shared Future" to respond to the challenge of maintaining the economic vitality of the Asia-Pacific Region and ensure it benefits all. There will be four tracks: deepening regional economic integration; achieving sustainable, innovative and inclusive growth; enhancing MSMEs' competitiveness and encouraging innovation in the digital era and ensuring food security and promoting sustainable and climate smart agriculture

ABAC 2017 co-chairs are David Toua and Juan Francisco Raffo, with five (5) working group chairs, namely: Sir Rod Eddington, Regional Economic Integration Working Group (REIWG); Richard Cantor, Finance & Economics Working Group (FEWG); Dato Rohana Tan Sri Mahmood, MSME & Entrepreneurship Working Group (MSMEEWG); Ning Gaoning, Sustainable Development Working Group; and Anthony Nightingale, Connectivity Working Group (CWG).

For further information please contact: 

Mr. Tran Thien Cuong, ABAC Executive Director 2017, Tel:  (84) 435742022 ext. 221

Email: cuongtt@vcci.com.vn

Mr. Antonio Basilio, Director, ABAC Secretariat, Tel: (63 2) 845 4564, Email: abacsec@pfgc.ph



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Issued by the APEC Business Advisory Council (ABAC)

A new global agreement designed to help trade flow more freely will lower costs for business and help to raise living standards across the Asia-Pacific region, business leaders meeting in Bangkok for the APEC Business Advisory Council said yesterday.

"The global economy has been through a tough period.  Trade growth continues to slow," said ABAC Chair for 2017, Mr Hoang Van Dung of Viet Nam.   "It is critical that we take action wherever we can to remove the grit from the machinery of trade, keep markets open and competitive, and deepen connections.   So this new agreement is extremely welcome."

Mr Hoang was speaking about the entry into force of the World Trade Organisation's Trade Facilitation Agreement (TFA).   The Agreement was concluded by WTO Members at the Bali WTO Ministerial Meeting in 2013.   Two-thirds of the WTO Membership must ratify the TFA before it can begin to be implemented.   That threshold has just been reached.

"The TFA has been a long time coming.  We are excited that it can now be implemented – and we urge those who have not yet ratified it to do so quickly."

"As business people, of course, we welcome anything that makes trade easier and less costly.  Consumers will also benefit from cheaper, more diverse and better goods.  But more importantly, the TFA should help to unlock opportunities for our communities," said Mr. Hoang. 

"Inclusive and sustainable growth is central to our vision for the APEC region.  The TFA will help small as well as large firms, and those from developing economies, to participate more successfully in global markets, by reducing red tape, costs and technical barriers to trade."

WTO analysis suggests that the TFA will deliver substantial benefits: over the next 15 years, the implementation of the TFA is predicted to add around 2.7% per year to world export growth, and more than half a percent per year to world GDP growth.  Full implementation of the TFA is estimated to reduce global trade costs by an average of 14.3%.

"We also strongly welcome the entry into force of the TFA as an affirmation of our ongoing support for the WTO," Mr. Hoang added.  "The WTO remains the cornerstone of the global economy, offering the first-best way to reduce barriers to trade, promote economic growth and foster sustainable development.  This agreement is a tangible articulation of the original goals of the 'Doha Development Agenda' launched back in 2001."

....................................

ABAC was created by APEC Leaders in 1995 to be the primary voice of business in APEC. Each economy has three members who are appointed by their respective Leaders. They meet four times a year in preparation for the presentation of their recommendations to the Leaders in a dialogue that is a key event in the annual Leaders Meeting.

Under Viet Nam's leadership, ABAC is pursuing a work programme under the theme "Creating New Dynamism, Fostering Shared Future" to respond to the challenge of maintaining the economic vitality of the Asia-Pacific Region and ensure it benefits all. There will be four tracks: deepening regional economic integration; achieving sustainable, innovative and inclusive growth; enhancing MSMEs' competitiveness and encouraging innovation in the digital era and ensuring food security and promoting sustainable and climate smart agriculture

ABAC 2017 co-chairs are David Toua and Juan Francisco Raffo, with five (5) working group chairs, namely: Sir Rod Eddington, Regional Economic Integration Working Group (REIWG); Richard Cantor, Finance & Economics Working Group (FEWG); Dato Rohana Tan Sri Mahmood, MSME & Entrepreneurship Working Group (MSMEEWG); Ning Gaoning, Sustainable Development Working Group; and Anthony Nightingale, Connectivity Working Group (CWG).

For further information please contact: 

Mr. Tran Thien Cuong, ABAC Executive Director 2017, Tel:  (84) 435742022 ext. 221

Email: cuongtt@vcci.com.vn

Mr. Antonio Basilio, Director, ABAC Secretariat, Tel: (63 2) 845 4564, Email: abacsec@pfgc.ph



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Issued by the First APEC Senior Officials' Meeting

Senior Officials from the 21 APEC member economies, the world's largest regional economic cooperation group, have commenced work towards freer Asia-Pacific trade that secures the advantages of globalization while safeguarding the welfare of people hurt by it in the past.

Convening for the first time in 2017 in Nha Trang and guided by Viet Nam as APEC Chair, Senior Officials are developing trade and economic policy that all corners of society can embrace and benefit from across APEC—whose member economies circle the Pacific Rim and account for 3 billion people, half of global trade and 60 per cent of world GDP.

Emphasis is on providing new direction for regional economic integration and promoting sustainability in APEC; greater support for workers and small business participation in trade; and enhanced food security and agricultural sustainability in an era of climate change. It builds on the technical groundwork laid here by trade and sectoral officials over the preceding 12 days.

"We are at the start at what promises to be a difficult year," acknowledged Viet Nam Permanent Deputy Foreign Minister Bui Thanh Son, 2017 Chair of APEC Senior Officials. "Despite some positive predictions, global and regional economic growth remains slow. Global trade is weak. And investment is subdued. There are many uncertainties."

"In some corners, we are hearing concerns that the benefits of globalization are not evenly distributed. New disruptive technologies, if not properly harnessed, run the risk of widening development disparity among economies," added Permanent Deputy Minister Son. "APEC has all the resources and potential as well as capabilities to overcome these challenges, and turn them into impetus for further growth and development.

"As a grouping of dynamic economies, our region can and will continue to move ahead on the path of development and prosperity," he declared.

Senior Officials are detailing measures to make it 10 per cent easier to do business in APEC by 2018—enabling greater entrepreneurship and trade among resource-constrained small and medium enterprises that account for over 97 per cent of all businesses and half of all jobs across APEC economies but less than 35 per cent of their exports. Improving the time it takes to open a business, get permits and trade across borders are some focus areas.

Parallel initiatives are being fleshed out to widen access to financing and the internet to spur startup growth, promote digital skills training to meet employer demand and lift employment, and drive regulatory reform to boost trade in services. The aim is to bolster sectors ranging from e-commerce and education, to health, to travel and tourism that support millions of jobs.

The development of actions to securely reduce administrative bottlenecks at borders and make it easier and less costly to move goods across borders is a further point of attention. Addressing non-tariff measures, including in the agriculture and food industry, and strengthening technical capacity for new, more equitable trade agreements is another.

"We are working to promote the inclusiveness of APEC—to ensure that growth, globalization and free and open trade and investment that APEC is a champion in will be beneficial to all people and won't leave anyone behind," said Deputy Minister Son. "What I hope to take away from this first Senior Officials' meeting is a strong message reaffirming APEC's essential role as the premiere economic forum that is working for the people and businesses," he concluded.  

The First APEC Senior Officials' Meeting will close on Friday. It will be followed by a press conference with Deputy Minister Son to discuss the outcomes and road ahead.



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Small business promotion authorities from APEC member economies are taking next steps to ease bottlenecks hindering women-led exporters and their growth and job creating potential in the Asia-Pacific. 

Officials detailed plans for the expansion of efforts to tackle gender bias in trade during a week of small business development policy meetings in Sydney. They include greater cross-border training and technical exchange to enable reform in APEC economies that levels the playing field for women-owned and managed firms, and improves their access to international markets. 

The move could increase trade-driven growth and job creation across a range of businesses—from a successful hand-loomed fabric producer run and operated by women in Philippine villages, to an emerging technology company started by a Peruvian woman that helps disabled people to communicate via instant messaging, to women-managed suppliers of materials and parts in Viet Nam that support manufacturers in Australia, Japan and the United States. 

"APEC economies are deepening cooperation to break down barriers to the development and competitiveness of women-led businesses," explained Nguyen Hoa Cuong, Chair of the APEC Small and Medium Enterprises Working Group, which administers regional collaboration within the sector. 

"Our work to address inequalities facing women entrepreneurs and managers stands to boost trade and growth, particularly among small businesses that account for the majority of employment across the region," noted Nguyen, who is also Deputy Director General of Viet Nam's Enterprises Development Agency. 

Focus in APEC is on lowering institutional and policy barriers to participation in trade by women-led businesses. Examples include outdated labor laws that fail to sufficiently protect women, a lack of childcare services, limited availability of credit and inadequate or out of reach higher education and skills development opportunities, among others. 

To mitigate challenges like these, APEC is increasing public sector capacity to introduce gender-responsive trade promotion policies and programs, in coordination with the business community and civil society. Training and information-sharing sessions for trade promotion officials next month in Ha Noi will take this multi-year, region-wide initiative forward. 

"Women-led small and medium enterprises can better tap into international business and global supply chains when they are supported by government policy and practices that tackle gender specific constraints faced by female entrepreneurs," explained Cynthia Balogh, Director of Women Going Global, the Chief Trainer leading the team overseeing the project. "The incentives for job creation and growth in the region are potentially huge." 

This work is complemented by measures taking shape in APEC to widen access and use of e-commerce by women-led micro, small and medium enterprises, helping them reach customers and business partners abroad. Opening up financing avenues as well as branding, intellectual property protection and management support are further areas of emphasis. 

"Women in the Asia-Pacific are major drivers of small businesses with great exporting potential but may be constrained by unsupportive economic and social policies," said Hoang Thi Thu Huyen, Chair of the APEC Policy Partnership on Women and the Economy. "Reform is key to realizing more gender balanced trade that benefits everyone. It is also critical to transforming attitudes that remain the bigger obstacle to women's economic empowerment," she added. 

Hoang, who is also Deputy Director General of Gender Equality at Viet Nam's Ministry of Labor, Invalids and Social Affairs, concluded that APEC's policy efforts in the small business space will enrich the theme and priorities of the 2017 APEC Women and the Economy Forum in Hue, Viet Nam in September. 

APEC Trade Ministers will convene in Ha Noi in May, followed by a meeting of the region's Small and Medium Enterprise Ministers in Ho Chi Minh City in September, to evaluate progress and take additional actions to advance inclusive trade. 

# # # 



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A massive increase in garbage flowing into oceans and waterways as development and consumption surge in the Asia-Pacific is sounding environmental and economic alarm bells. It is also giving impetus to a potential new wave of investment and job creation that could turn the tide on the region's trash troubles. 

The threat unmanaged garbage poses to marine ecosystems and the lives and livelihoods of tens of millions of people that depend on them has prompted central and municipal government officials from APEC member economies to team up with the private sector to build their waste management capacity. Focus is on narrowing a multibillion dollar financing gap to cope with trash forecast to accumulate to 1.4 billion metric tons in the Asia-Pacific annually by 2030. 

Officials evaluated the risk landscape and detailed recommendations to improve conditions for joint investment in waste management infrastructure during consultations in Jakarta with experts from construction, investment and development banks, and environmental groups. The recommendations will better position governments to commission new and viable projects. 

"Pressure on marine environments due to the buildup of human-made debris threatens biodiversity, communities and economies," warned Tuti Hendarawati Mintarsih, Director General for Solid Waste, Hazardous Waste and Hazardous Substances Management at Indonesia's Ministry of Environment and Forestry. The archipelago of 17,000 islands is particularly vulnerable but by no means alone.  

"Greater resources are required to meet changing waste management needs in the region," added Hiroko Yokota, a senior official in the Waste Management and Recycling Department of Japan's Environment Ministry. "Supporting local governments with capital allocation and governance expertise is key to getting more critical infrastructure projects successfully deployed," said Yokota. She referred to cases in Japan and new cooperation between Japan and Indonesia to develop projects in the latter that generate energy from waste treatment. 

Over 80 per cent of all marine litter originates as land-based refuse, most commonly cigarette butts and lighters, food wrappers, bottles, cups, bags and toys. More than half of it, or the equivalent of a large dump truck emptying its contents into oceans and waterways every few minutes, is estimated to come from the from the Asia-Pacific where investment in waste management has not kept pace with economic development. 

The recommendations offer guidance on addressing economy-specific barriers to public-private investment in waste collection, transport and disposal as well as advanced treatment, recycling and reprocessing. Examples include improving interagency coordination and municipal support, re-prioritizing budgets, appropriately assigning risk and introducing benchmark projects. 

They build on principles established in APEC to encourage investment in waste management through political, economic and legal and regulatory reform.

"Action to control risk and assure investors is essential to enabling jointly financed waste management infrastructure that enhances lives," explained Mark Johnson, Chair of the Asia-Pacific Infrastructure Partnership, which supports public-private project development. "Optimizing waste collection and treatment in just one large city in the region can create thousands of jobs and raise living standards for millions more people." 

It is estimated that doing so in cities in Indonesia with over 2 million inhabitants would double employment in waste management, generating 24,000 additional jobs over 10 years. 

"The impact of marine debris on water and food supplies, public health and industries such as fishing, shipping and tourism is a shared problem that requires shared solutions," concluded Susan Ruffo, Managing Director of the Ocean Conservancy. "There is still a long way to go to clean up our oceans but cooperation between the public and private sectors in the APEC region is moving waste management in the right direction and laying a path for progress globally." 




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Issued by the APEC Electronic Commerce Steering Group

The APEC Electronic Commerce Steering Group announced that the United States will become the first participant in the APEC Cross-Border Privacy Rules (CBPR) System to promote region-wide privacy policy compatibility; to protect consumers; and lower regulatory compliance costs throughout the Asia Pacific region.

This voluntary, certification-based system promotes a consistent baseline set of data privacy practices for companies doing business in participating APEC economies. APEC Economic Leaders endorsed the system when they met in Honolulu in November 2011.

APEC's 21 member economies account for 55 percent of world real gross domestic product as well as 44 percent of world trade, comprising a large market of 2.7 billion consumers. The APEC CBPR System in place is expected to further open markets and facilitate regional trade.

Chair of the Electronic Commerce Steering Group, Lourdes Yaptinchay, advised the United States of its approval on 26 July 2012.

"Participation in the system requires interested organizations to develop internal business rules on cross-border privacy procedures in line with the APEC CBPR System," she said.

"The goal of the system is to enhance electronic commerce, facilitate trade and economic growth, and strengthen consumer privacy protections across the Asia Pacific region, thereby promoting regional economic integration," Yaptinchay continued.

Acting US Secretary of Commerce Rebecca Blank said that this initiative is a significant milestone in international data protection. 

"This system will enable participating companies in the United States and other APEC member economies to more efficiently exchange data in a secure manner and will enhance consumer data privacy by establishing a consistent level of protection and accountability in the APEC region," said Blank.

"We are committed to working with our trading partners in APEC to help maximize its implementation throughout the region."

The US Federal Trade Commission was named as the first privacy enforcement authority.

"APEC privacy rules offer the promise of significant benefits to companies, consumers and privacy regulators, and the US Federal Trade Commission is pleased to be the first privacy enforcement authority in the APEC Cross-Border Privacy Rules System," said Commissioner Edith Ramirez.

"We hope that many more APEC economies will soon join and help realize the system's potential as a model for global interoperability among privacy regimes."



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APEC has invited the region's photographers to submit pictures that best capture the organisation's priorities.

Winning shots will be selected based on the quality of the photograph, composition, overall impact and artistic merit – as well as how well they exemplify APEC's 2012 priorities.

The top photos will take inspiration from four themes: 1) trade and investment liberalization, and regional economic integration; 2) strengthening food security; 3) establishing reliable supply chains; and 4) intensive cooperation to foster innovative growth. These themes reflect the policy priorities that APEC has set for 2012.

 "The photographic interpretation of APEC's work at the grassroots helps inform our decisions as we move towards a more integrated region," said Ambassador Muhamad Noor, Executive Director of the APEC Secretariat. 

"Based on the outstanding photos we reviewed last year, I am confident that in 2012 we will see even more compelling visual representations of APEC's priority work areas."

The contest is open to all amateur and professional photographers in APEC's 21 economies. The submission period ended on 1 August 2012.

Three winning photos will be chosen by a panel of international judges including Eric Baradat, AFP Photo Editor-in-Chief (Worldwide); Vladimir Baranov, RIA Novosti's Head of Visual Information Department; Palani Mohan, Reportage by Getty Images Photographer; Ambassador Gennady Ovechko, Russian APEC Senior Official and Ambassador Muhamad Noor, the APEC Secretariat's Executive Director.

APEC Facebook fans will have a chance to vote for their favorite photo under the Popular Choice category. The public voting period begins on August 8 when the top ten photos will be displayed at www.facebook.com/APECnews. Public voting ends on August 22. The photo with the most votes on the APEC Facebook page will win S$1,000.

The winners will be announced at the start of APEC Economic Leaders' Week on 2 September 2012 in Vladivostok, Russia.

For further contest information and submission details, please refer to the APEC 2012 Photo Contest website (http://www.apec.org/photocontest) and Facebook page (www.facebook.com/APECnews).

# # #

For more information, please contact Augustine Kwan +65 6891 9674 at ak@apec.org or Michael Chapnick +65 6891 9670 at mc@apec.org.

More details about APEC's 2012 priorities and initiatives for the year can be found on www.apec.org or www.apec2012.ru. 

Additional details about APEC meetings, events, projects and publications can be found at www.apec.org. You can also follow APEC on Twitter and join us on Facebook. 



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Issued by the APEC Market Access Group

The removal of trade barriers on information and communication technology (ICT) products increases their accessibility and expanding the Information Technology Agreement (ITA) will further spur productivity, innovation and economic growth.

That was the consensus of ICT industry representatives and APEC officials when they met in Singapore on Thursday to discuss the future of the ITA, which currently eliminates tariffs on selected ICT goods.

ICT sector competition fuelled by tariff reduction helps drive innovations that enable delivery of superior technologies to consumers at reduced cost and is of considerable value to APEC economies, delegates agreed.

Among the benefits provided by the ITA within the region are low prices that have boosted ICT software and services industries in developing member economies and the emergence of global ICT supply chains that are primarily located in Asia. This translates into more robust ICT export growth among APEC members who have joined the ITA.

The ITA was inked in 1996 and came into force a year later, with the agreement's participating economies, 16 of which are APEC members, now accounting for over 90% of world trade in information technology products.

Yet, industry voices gathered in Singapore called for re-evaluation of the ITA's product scope and participation, describing it as long overdue.

"After 15 years, it's time to think about the expansion of the ITA agreement so that it offers greater product coverage and further has the buy-in of all WTO members," said Sam Shen, Director of the Institute for Information Industry in Chinese Taipei.

The ITA covers ICT product categories such as semiconductors, computers and telecommunications equipment, but does not cover many other core ICT and recent consumer ICT innovations which experts regarded as a major opportunity to improve the agreement.

Dynamic random access memory for personal computers and workstations, global positioning systems, e-readers and new semiconductor chips are just a few of the ICT products that fall outside ITA's reach and at great expense to APEC economies as key manufacturers of them, Intel's Asia-Pacific Legal Policy Director John Matheson contended.

"From 1996 to 2008, total global ICT trade increased more than 10% annually, from USD1.2 trillion to USD4 trillion, but there is still an estimated USD800 billion in two way ICT trade  and USD190 billion in global GDP that is being held back as a result of ITA limitations," said Matheson.

Experts agreed that the solution is to expand the agreement to unlock would-be benefits for trade in goods and services.

"As much as the ITA has contributed to innovation and growth, it can still do a lot more to boost supply chains, ITA product penetration and economic health and prosperity," noted Akihiro Tanii, Vice-Chair of Trade Committee, Japan Electronics and Information Technology Industries Association and a Panasonic Corporation senior representative.  

The future of what the ITA can do is an open proposition, dialogue participants concurred.

"The ITA is there and waiting to extend immediate benefits to economies that come on board, and there is a real opportunity now for participants to work together to significantly broaden the ITA's inherent benefits," said Mary Elizabeth Chelliah, Deputy Director of International Trade Cluster at Singapore's Ministry of Trade and Industry, who moderated the discussions.

To get there, meeting participants concluded that APEC economies would be well served to help lead the charge to jointly expand the ITA product coverage. This will ensure that the ITA keeps up with technological advances and reflects private sector views.



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Issued by the APEC Market Access Group

Robust trade in remanufactured products will bring greater investment opportunities, create jobs and promote green growth in the Asia-Pacific region.

That was one of the key messages business representatives, government regulators and research scientists from across the APEC region took away at the conclusion of a workshop on remanufacturing research and development in APEC economies in Singapore today. 

Industries reliant on remanufactured goods, including those ranging from earthmoving and automotive parts to electronics and information technology, got a needed boost through sharing best practices on reliability engineering, quality assurance, and inspection.

"Remanufacturing represents not only a new paradigm in manufacturing, but also presents a second-life business model that makes production of goods both environmentally and often cost attractive," Dr. Raj Thampuran, Executive Director of the Science and Engineering Research Council at Singapore's Agency for Science, Technology and Research, said in his keynote address.

"There is a renaissance occurring in manufacturing," he continued. "With emphasis on high-value engineering methods, supportive regulatory systems, and good capabilities across the supply chain, I believe remanufacturing can take off in a big way."

Remanufacturing is the practice that recovers products from commercial usage and transforms them into like-new goods to be reintroduced into the marketplace. The level of transformation varies by industry, but the result is a product that conforms to technical and safety standards.

Speaking at the workshop, Mr. Shingo Komatsu, President of Shin-Etsu Denso Co., Ltd, emphasized that remanufactured products are not used goods.

"These [remanufactured] products are disassembled, cleaned and rigorously tested and certified to meet safety and technical specifications," Mr. Komatsu said. "They are as good as new."

Exports of remanufactured goods often face trade-restrictive measures due to a lack of understanding of the products or concerns over public safety. Barriers frequently arise when economies associate 'remanufactured goods' with 'used products.'

APEC's focus on facilitating trade in remanufactured products stems from its commitment to pursue green growth. Remanufacturing can produce significant environmental benefits through savings in energy and material use and reducing waste.

According to a study conducted by The Remanufacturing Institute, manufacturers of refurbished products save on average 85% of energy use, 86% of water use, and 85% of material use as compared to manufacturing a new good.

And because remanufacturing operations – disassembly, reconditioning and reassembly – are often labor intensive, "remanufacturers generally employ more skilled employees per good produced than traditional manufacturing," said Mr. Frank Li, Asia-Pacific General Manager for Caterpillar's Remanufacturing and Components Division.

As part of the workshop, participants also visited Caterpillar's and Tru-Marine's remanufacturing facilities in Singapore to learn more about how these companies conduct their remanufacturing operations.

Under a pathfinder initiative that was endorsed by Ministers last year, participating APEC economies have also committed to not apply measures specifically concerning used goods to remanufactured goods.

# # #

For more information, contact Michael Chapnick +65 9647 4847 at mc@apec.org, David Hendrickson +65 6891 9671 at drh@apec.orgor Augustine Kwan +65 98310717 at ak@apec.org.

For details about media arrangements for the upcoming meetings, please email apec2012media@forumspb.com or visit http://www.apec2012.ru.

Details about APEC meetings, events, projects and publications can be found at www.apec.org. You can update your subscription to news alerts and the APEC Bulletin, follow APEC on Twitter and join us on Facebook.



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Issued by the APEC Committee on Trade and Investment

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APEC is moving ahead with cooperative efforts to evaluate and identify initiatives that support freer, faster and more beneficial trade in the Asia-Pacific region.

Concluding its weeklong cluster of meetings on Tuesday, the APEC Committee on Trade and Investment and related policy groups met for the second time this year with a focus on APEC 2012 priorities, specifically to foster regional economic integration in the Asia-Pacific, establish reliable supply chains, expand regulatory convergence and cooperation, and foster innovative growth.

APEC member economies examined mechanisms to better chart their progress toward realizing the goal of free and open trade and investment in the region.

Delegates noted progress on the implementation of the work program on next generation trade and investment issues endorsed last year by APEC Economic Leaders, particularly policies related to innovation and trade, and participation of small and medium size enterprises in global production chains. Officials also considered proposals to identify and address additional growth issues, as instructed by Leaders.

"APEC members clearly remain united in their desire to build on measures that drive forward trade and investment and are critical to bringing our region closer together to power economic activity that spurs more robust, sustainable growth and prosperity," said Monica Contreras, chair of the APEC Committee on Trade and Investment.

Members also examined how to improve connectivity within the supply-chain by addressing chokepoints, so as to facilitate the flow of trade and services, and reduce transaction costs and delays to benefit economic operators, including small and medium size enterprises that are the backbone of the APEC region's economies.

Environmental goods and services, whose trade growth is outstripping that of other goods, was also a topic in the committee's agenda.

"There is still a lot of work to be done, but the progress made in Singapore this week demonstrates APEC economies' commitment to positively contribute to green growth and sustainable development objectives," Contreras said.

The committee further recognized the importance of engaging the regulatory community and industry as essential to reeling in the challenges associated with growth.

The APEC Committee on Trade and Investment and related dialogues will meet again in Kazan, Russia to review progress ahead of a meeting of APEC Ministers Responsible for Trade on 4-5 June.



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Issued by the APEC Security and Prosperity Steering Group

While mobile phone users have not yet faced many security concerns up to now, threats are on the rise as mobile phone usage rapidly grows across the region, according to cyber-security experts meeting in Da Nang this week.

An APEC workshop on handheld mobile device security held on Friday brought attention to emerging device threats, mobile internet malware, securing content, advanced cloud-based mobile application scanning technology and best practices for securing devices.

Confronting these challenges is important to economic growth in the Asia-Pacific region because smart phones have begun to outsell personal computers here for the first time, according to a report by Trend Micro.

"It's super fast growing," said Warren Tsai, Director of Product Management with Trend Micro, a company focused on secure content and threat management. "The mobile browser is super capable and the performance is as powerful as the desktop. This brings lots of security issues to the mobile ecosystem"

Information security experts acknowledged that different platforms allow users to synchronize personal and enterprise information and when done properly, exposure is minimal. But users generally do not take sufficient steps to protect electronic data.

"More and more, sensitive data is stored on personal mobile devices which are not being actively managed," acknowledged Ng Kai Koon, Symantec's Senior Manager for Legal and Public Affairs, Asia Pacific and Japan. 

"Though the impact of malware on Android phones has been minimal, incidents are growing at about 60 percent per year which is cause for concern," Tsai confirmed.

The right mix of policy and technology ultimately forms the complete picture. A balance needs to be achieved between promoting innovation, ensuring security and containing costs.

"If we put in place adequate protection for the mobile space while continuing to educate users on security best practices, mobility risks could be effectively reduced," Ng explained. "It is important to enable a platform that allows the market to innovate but this needs to be balanced with a secure environment."

"There needs to be some frameworks to guide the industry in a better direction in protecting user information, while still balancing the needs and freedom for the industry to grow," added Jane Lu, BlackBerry Security Director for Research In Motion.

During the panel discussion, Sharizan Abdul Aziz with the Malaysian Communications and Multimedia Commission said that in addition to using various existing regulatory tools, regulatory bodies should also promote a secure and safe environment for mobile consumers through collaborative efforts with other stakeholders and enforcement authorities. However, emphasis should be on consumer education to make them more aware that it is important for them to be vigilant at all times when they use their mobile devices.

Regional telecommunications officials will consider this input when they meet later this week to review recent regulatory and policy developments in their economies and how to promote innovation in the region, an APEC priority for 2012. 



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Issued by the APEC Committee on Trade and Investment

Regional officials and industry thought leaders were among those who put forward strategies for Asia-Pacific economies to encourage effective, non-discriminatory and market-driven innovation at an APEC workshop held in Singapore on 4-5 April.

 

APEC economies must continue to actively promote innovation-friendly policies and infrastructure to bolster their economic fortunes, noted public and private sector delegates.

 

APEC leaders agreed in 2011 that the generation and commercialization of new ideas is vital to regional prosperity and have made the promotion of innovation as a driver of trade, economic integration, supply-chain performance and green growth a top priority for 2012.

 

"It is important to develop policy environments where 'innovation actors' such as private firms, financial institutions including venture capital pools, supporting organizations and research institutes in APEC economies can act proactively develop, find and utilize innovations in an open, free, fair and transparent trading environment," said Kenji Goto, Japan's APEC Senior Official.

 

"Under such circumstances, innovative goods, services, business models and technologies will be produced, exchanged and disseminated rapidly and efficiently, which in turn will deepen regional economic integration, buoy economic growth and improve the quality of life in the region," Goto added.

 

Policy adoption and knowledge exchange that promotes open, transparent and fair legal frameworks, smart regulation and intellectual property rights protection was described as crucial. Delegates also highlighted the importance of human resources development and technological, logistical and social interconnectedness.

 

Performance in the private sector can be viewed as a barometer of progress on this front.

 

"The creation, production and commercialization of new ideas are the lifeblood of the information and communications technology industry given that technology changes so fast," said Steven Lee, Supervisor of Chinese Taipei mobile device firm HTC and CEO of PC processor platform maker VIA Networking Technologies, Inc. "Companies have to innovate quickly to survive."

 

Delegates contended that the beneficiaries of environments that support creative, value adding concepts are not just investors and corporate shareholders alone.

 

John Ure, Executive Director of the Asia Internet Coalition, an association that promotes open internet access, pointed to the significance of the internet's transformation into a global mode of production, distribution and consumption.

 

"The real benefit [of this trend] to the economy and to trade is not growth per se, but the likelihood that growth will be more broadly based – and therefore more sustainable – and more socially inclusive," Ure said.

"Economies that are slow to adapt will be slow to benefit," he cautioned.

 

In Singapore, the consensus among delegates was that the Asia-Pacific region is increasingly open to the tenants of innovation, but that there is still plenty of room for policy enhancement among both developed and developing economies.



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Growth in the information and communications technology (ICT) sector will provide economic opportunities for the APEC region but it comes with the challenge of access, connectivity and security threats, acknowledged senior telecommunications officials in the harbor city of Da Nang.

At the meeting on Monday, the APEC Telecommunications and Information Working Group reviewed regulatory and policy developments in member economies. This review was conducted after a series of workshops on mobile device security, telecom competition policy and mobile number portability concluded last week.

Advances in the ICT sector are making quick progress, particularly in the Asia-Pacific region where nearly half of the world's mobile phone subscribers live and work, according to the International Telecommunications Union.

Viet Nam's Vice Minister of Ministry of Information and Communications Nguyen Thanh Hung said that APEC is addressing the challenges of network and information security, sustainability of universal ICT services, and a framework for market liberalization and competition.

"The development of mobile broadband is facilitating many new applications, including those for rural and remote areas," said Nguyen.

"For both regulators and operators, there will be more challenges in promoting mobile applications and mobile security," he explained.  "Safe computing networks and stable and reliable telecommunications infrastructure will be the essential foundation for developing a digital economy,"

In his opening remarks, Kenji Tanaka, chair of the APEC Telecommunications and information Working Group acknowledged the broad impact of ICT on the global economy.

While recognizing the many benefits that come with connectivity to the Internet, he cited concerns over broadband network deployment, cyber security and disaster prevention measures.

Tanaka said that the rapid growth of the Internet and broadband connections in member economies have generated enormous benefits for social and economic development.

However, he pointed out that organizations both in the private and public sectors face serious cyber incidents across the world. Tanaka implored members to strengthen measures for cyber security to protect economic activities undertaken through the Internet.

Nonetheless, Tanaka said that ICT can be used appropriately and safely for the sustainable development of the global economy, concluded Tanaka.

The results of these proceedings will be reported to APEC Telecommunications and Information Ministers when they convene in St. Petersburg, Russia on 6 - 8 August 2012.



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When Ho Chi Minh City's Long Thanh International Airport cargo terminal becomes operational in 2020, it is expected to handle up to five million metric tons of cargo annually. This is about 830,000 metric tons more than Hong Kong in 2010, when it edged Memphis in the US, home to FedEx's world headquarters, to become the world's busiest air cargo hub.

Ho Chi Minh City's rapid development into a major air cargo thoroughfare is consistent with growth that is equally solidifying the broader Asia-Pacific region's mantle as the most active aviation-based shipping center.

Carriers in the Asia Pacific haul about half of air cargo worldwide, with traffic here increasing faster than any other region. APEC economies are the clear growth drivers—in 2010, eight APEC members were home to 21 out of 25 of the world's busiest airports by cargo traffic.

And though economic uncertainty, most notably in Europe, is weighing on industry demand, Boeing, for its part, predicts air cargo traffic globally will expand 5.9 percent annually over the next twenty years, led by the Asia-Pacific. The inter-Asia market alone is expected to expand 7.9 percent annually over this period.

Magnifying this trend's significance, while air cargo accounts for only 0.5 percent of volume traded globally, it constitutes 35 percent of goods traded by value.

APEC safeguards trade

What this means is that now more than ever, the onus is on APEC economies, in particular, to ensure the secure, efficient flow of air cargo and, by extension, safeguard arteries of integrated trade and investment that are at the heart of APEC and the modern global economy.

The goal is to protect a supply chain that today brings in USD66 billion or 11 percent of total revenue for the airline business, which itself supports 33 million jobs and USD3.5 trillion in economic activity, according to the International Air Transport Association.

This task is even more crucial when you consider the high volume of perishable food that relies on international air cargo to arrive quickly and securely before going to market, and feeds billions of consumers worldwide.

APEC Leaders grasp the stakes and need for the region's economies to take immediate action.

In the APEC Growth Strategy, APEC Leaders specifically called upon members to sustain efforts to identify and embrace initiatives to mitigate the risk of attack, disruption and misuse in the air cargo space, and promote secure trade expansion.

APEC is making considerable strides as we seek to make good on our commitment in practical, meaningful and lasting ways.

Delivering results

For one, APEC is coordinating efforts to help member economies implement and standardize initiatives that safely and effectively streamline cargo security checks by customs authorities and limit shipment delays, added cost and uncertainty.

Notably, APEC measures lowered trade transaction costs by 5 percent between 2007 and 2010, and are on-track to bring an APEC-wide 10 percent improvement in supply chain performance by 2015, with significant potential benefits for air cargo entities and the economic activity they facilitate.

On the security front, APEC is conducting practical exercises to help customs authorities identify model practices for effective border enforcement and map ways to effectively target and interdict a broader range of dangerous and illicit goods.

Related APEC capacity building projects and training are examining issues such as canine screening, explosives detection and technical checkpoint and security bottlenecks, while promoting harmonized, business-friendly policy responses in-line with international standards.

We are conscious of the need to deal with all manner of contingencies and are pushing ahead with the APEC Trade Recovery Program to ensure that the flow-of-goods is restored as quickly as possible in the event of a major disruption, including a terrorist attack.

APEC's Consolidated Counter-Terrorism and Secure Trade Strategy spells out APEC's related efforts for the next five-plus years and offers member economies an integrated framework for approaching air cargo security challenges and opportunities within APEC's broader agenda.

This on-going push further lays the groundwork for achieving APEC's 2012 goals, among them the creation of a secure environment that fosters the opening of trade and investment corridors and economic integration, food security protection and supply chains connectivity.

Last week's air cargo security dialogue in Ho Chi Minh City is another extension of APEC's commitment to jointly and proactively bolstering air cargo security in our region, for the benefit of our integrated economies and shared future.

Ambassador Muhamad Noor is the Executive Director of the APEC Secretariat in Singapore. 



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Issued by the APEC Secretariat

"APEC is taking concrete steps toward the realization of a Free Trade Area of the Asia-Pacific by making an important and meaningful contribution as an incubator for leadership and ideas," said APEC Secretariat Executive Director Ambassador Muhamad Noor.  

He delivered the remarks to members of the business community, public sector and academia in Singapore at a conference organized by the Pacific Economic Cooperation Council. Participants gathered to discuss ways to address emerging challenges in the region.

Ambassador Noor revealed that the APEC region is expected to outperform global growth over the next two years.

"According to the recent IMF World Economic Outlook released last week, the global economy is forecast to grow by 3.5 percent in 2012 and 4.1 percent in 2013 while real GDP in the APEC region is projected to grow by 4.3% in 2012 and 4.7% in 2013 – higher than the forecast for world growth." 

"Economic growth in APEC is forecast to grow faster in 2012 compared to the previous year, partly reflecting the recovery process from natural disasters that struck the region in 2011".

APEC is defining, shaping, and addressing "next generation" trade and investment issues – such as SME participation, supply chain improvements and innovation – that an FTAAP should contain.

"APEC economies emphasize the strategic importance of regional economic integration and cooperation as a way to achieve sustainable growth and equitable development in the Asia-Pacific," explained Noor."

"These roots lie in APEC's original agenda to support the multilateral trading system."

Despite the absence of a formal agreement, APEC economies are more likely to export and import with members than non-members, found a study conducted by the APEC Policy Support Unit.

"Already, the impact of APEC membership on trade among members is comparable to a free trade agreement, even though APEC members are not bound by formal rules or trade treaties," Noor explained.

In addition to lowering tariffs, significant progress has been made in reducing non-tariff barriers, and increasing trade facilitation in the region.

"Member economies have taken concerted action and progressed in a wide array of economic, trade, investment and social areas," concluded Ambassador Noor. "Despite these achievements, APEC's continued efforts on regional economic integration remain especially important under the current difficult economic situation.



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To promote innovation that delivers improved health, productivity and economic growth to the Asia-Pacific, APEC has launched the 2012 ASPIRE Prize which will honor a young scientist whose work has made an outstanding contribution to bioscience, as evidenced by scholarly publication and demonstrated by partnerships with regional colleagues.

The 2012 theme, "Health Innovation," was announced in Moscow and builds on APEC's 2012 priority to actively foster advances among member economies in areas such as health that improve the quality of people's lives, according to APEC Secretariat Executive Director Ambassador Muhamad Noor.

"We look forward to another set of high-caliber nominees who, together, demonstrate the robust scientific collaboration taking place across the APEC region that drive growth, Ambassador Noor said."

APEC views innovation-based economic development as crucial for members' sustainable growth.

"Innovation is essential to fulfilling APEC's 21st century vision of a dynamic and prosperous region built on the development and application of new ideas," said Dr. Nares Damrongchai, Lead Shepherd for APEC's Industrial Science and Technology Working Group, the forum that issues the APEC Science Prize for Innovation, Research and Education (ASPIRE).

"We continue to actively support APEC member economies' capacity to both generate and gain from next generation advancements by encouraging widespread access to and increases in knowledge-sharing about industrial science and technology."

The annual ASPIRE prize promotes extensive interaction between the region's universities, research centers and the business community to foster cutting-edge ideas and technologies needed for more robust, integrated and sustainable economic activity.

"The incredible innovations in biochemistry, bioengineering, biogenetics and molecular biology which are being created by the scientists of the APEC region address key health problems and as a result increase performance and efficiency in the work place," noted Dr. Svetlana Axelrod, APEC Health Working Group Chair.

"Today's innovations are also helping to tackle public health threats that are very real and have great economic impact on the Asia-Pacific region and the rest of the world," Axelrod added.

APEC continues to actively address regional and global health epidemics through measures that support innovation and cooperative economic work programs that reflect the multi-sectoral impact of such health threats.

Each of APEC's 21 member economies can nominate one individual under 40 years of age up to the submission deadline of 14 May 2012.

For more information on submitting nominees, please contact Mr. Luis Enrique Vertiz, APEC Industrial Science and Technology Working Group Program Director, APEC Secretariat, at lev@apec.org.



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Issued by the APEC Small and Medium Enterprises Working Group

APEC members are jointly working to improve business opportunities for small and medium-sized enterprises (SMEs) whose success is essential to ensuring the region's economic health and stability.

Policymakers and business representatives gathered at a recent APEC SME meeting in Brunei Darussalam to drive forward next generation action plans designed to nurture the sector and the entrepreneurship and new ideas that drive it, even amid periods of global uncertainty.

"SMEs are an emerging force of productivity and business innovation in the APEC region," noted Dr. Robert Lai, APEC SME Working Group Chair. "Given the current economic climate, it is more important than ever that these businesses are afforded an environment that enables them to thrive."

"APEC member efforts to promote smart growth models, focusing on innovation, and enhanced supply chain connectivity are among APEC's 2012 priorities and in the case of SMEs, play an outsized role in buoying the region's economies," he said.

SMEs account for more than 90 percent of all enterprises in each of APEC's 21 member economies and in the majority of cases employ over half of their workforce, according to an APEC Policy Support Unit report.

Delegates shared best practice experiences and, in particular, emphasized business continuity plan development which they agreed is essential to securing SME operations and a more integrated and effective position in global production chains.

Industry-specific companion measures also topped the agenda, including voluntary codes of business ethics for the medical device sector and a 'green' workshop to encourage sustainable, environmentally-responsible business initiatives. 

APEC members further pledged to take on-going steps to lift SME management capabilities, financing access and business-friendly market policies, and expressed their commitment to improving SME cooperation.

A 2013-2016 SME strategic plan was drafted during the proceedings reflecting APEC's evolving policy direction toward SMEs and more effectively coordinating work between member economies on this front.

The meeting's findings will be reported to the 19th SME Ministerial Meeting on 1-2 August 2012 in St. Petersburg, Russia.

# # #



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A comprehensive approach to tourism development that prioritizes growth, sustainability, progress and sharing is the key to building greater, more rewarding industry cooperation within the Asia-Pacific.

This was the conclusion of a recent APEC Tourism Working Group meeting in Chinese Taipei which brought together officials and private sector representatives to map out the way forward for enhancing the effectiveness of one of the region's most important economic pillars.

"Tourism has proven to be a vital source of revenue and job creation within APEC economies," said Javier Esteban Guillermo Molina, APEC Tourism Working Group Lead Shepherd. "Moving forward, it also has the potential to contribute to sustainable and inclusive development, aided by the exchange of ideas and lessons between people."

In 2011, tourism accounted for 8.3 percent of GDP and 8.4 percent of employment in Asia, respectively, according to the World Travel and Tourism Council. 

Delegates agreed that in order to build tourism business and destination sustainability, and open the door to broader industry involvement, APEC members must consider a wide range of issues and stakeholders as they address tourism development, reflecting the industry's complex, cross-cutting nature.  

APEC is answering the call by delivering a host of projects and workshops that support tourism business growth, job creation and infrastructure development.

Delegates vowed to take continuous steps to enhance dialogue and collaboration between APEC economies, businesses and industry groups with regard to transportation, particularly air connectivity, which they cited as a central enabler of tourism development in the Asia-Pacific.

The implementation of APEC's Travel Facilitation Initiative, designed to improve traveler mobility in the region, is a key example of this commitment and was among the topics examined at the meeting.

Tourist security and safety was also identified as a critical focus area given the industry's vulnerability. Addressing this issue is crucial to ensuring tourist confidence and boosting arrival numbers.

The findings will be reported to the 7th Tourism Ministerial Meeting in July 2012 in Khabarovsk, Russia.



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Economies with a desire to fully deploy smart grid technologies need to make better use of international standards and not create unnecessary technical barriers to trade, said experts.

At an APEC workshop on regulatory approaches to smart grid investment and deployment, regulators from the region sought to better coordinate across their agencies to facilitate the trade and investment of smart grid technology. The event took place alongside the 5th World Forum on Energy Regulation in Quebec City, Canada.

APEC recognizes smart grid deployment as a means to address climate change, improve energy efficiency and promote green growth. Chair of the Korean Electricity Regulatory Commission, Professor Ja-Yoon Koo, said that smart grids are key to enabling the greater use and integration of renewable energy sources in businesses and homes.

"For smart grids to truly take off, we have to consider developing and adopting common interoperability standards across the APEC region," Prof. Koo told participants at the workshop.

"Adhering to such standards can significantly contribute to the trade and investment in smart grid technologies," he added. "This will in turn create new business opportunities and greatly benefit consumers, as well as the environment."

Interoperability in smart grid technologies refer to the ability for diverse systems – such as advanced metering infrastructure, electric vehicles and energy storage devices – to work together seamlessly.

Using common standards will enhance interoperability and reduce costs and risks associated with investments in these technologies.

"The regulatory community plays a critical role in smart grid investment and deployment," said Dr. George Arnold, the workshop's Co-Chair and the National Coordinator for Smart Grid Interoperability at the National Institute of Standards and Technology in the United States.

"With continued growth in smart grid investments over the next five years, particularly in the Asia-Pacific region, it is critical that APEC's regulators be well informed about the standards impacting smart grid development, and how they can potentially spur even greater investments and benefits."

"Standards should always be developed to ensure interoperability," said Mr. Koichi Noda, Director of the Technical Regulations, Standards and Conformity Assessment Policy Division at Japan's Ministry of Economy, Trade and Industry.

"Because smart grids are systems that contain a wide range of technology, the creation of standards for mutual linkage among them is extremely important," he emphasized. "Interoperability makes it possible for smart grids to work securely and effectively."

Promoting transparency and global collaboration in the development of smart grid interoperability standards was identified as a priority issue by APEC Ministers last year.

This workshop complements the current APEC Smart Grid Initiativeand the APEC Sub-Committee on Standards and Conformance work plan of promoting good regulatory practices. The outcomes of the workshop are expected to be endorsed by the Committee on Trade and Investment and will also be presented to APEC Energy Ministers when they meet in St. Petersburg, Russia on 24 -25 June.  A report of the meeting will be made available on the APEC Publication Database.



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APEC education ministers will meet in Gyeongju from 22-23 May to encourage greater innovation and cooperation in the region's diverse education systems.

Ministers responsible for education, together with academics, from APEC's 21 member economies will gather under the theme "Future Challenges and Educational Responses: Fostering Global, Innovative and Cooperative Education."

Hosted by Korea's Ministry of Education, Science and Technology, the APEC ministers will review progress on collaborative education projects and focus on deepening educational cooperation in the Asia-Pacific.

Cultivating APEC's vast human capital through education is also a critical component to ensuring a long-term economic recovery, since APEC economies account for 40 percent of the world's population – or 2.7 billion people.

Supporting the region's teachers at every stage of their development from preparation to recruiting to in-service training, as well as enhancing the use of information and communications technology in education are also key focus areas for member economies.

"The direction of future educational cooperation efforts should be shifted from simple information exchanges to projects that emphasize real action," says Ju-Ho Lee, Korea's Minister of Education, Science and Technology.

"Only then can we meet APEC's educational goals and achieve inclusive growth," as he explains how education plays a key role in realizing the APEC Leaders' Growth Strategy for prosperity in the region.

Minister Lee, the Russian Deputy Minister of Education and Science, Mr. Sergei Ivanets, and the APEC Secretariat Executive Director, Ambassador Muhamad Noor, will be delivering opening remarks at the meeting.

The outcomes of the 5th APEC Education Ministerial Meeting (AEMM) will be reported to APEC Leaders at their meeting in Vladivostok, Russia in September. For details of the AEMM and press arrangements, please visit: www.2012apecemm.org

# # #

For more information, please contact Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick +65 9647 4847 at mc@apec.org.

More details about APEC's 2012 priorities and initiatives for the year can be found on www.apec.org or www.apec2012.ru. 

Additional details about APEC meetings, events, projects and publications can be found at www.apec.org. You can also follow APEC on Twitter and join us on Facebook.



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APEC Education Ministers today pledged to decisively foster greater innovation and to strengthen cooperation in the region's education systems to ensure that growth reaches all citizens.

Meeting in Gyeongju, the Ministers acknowledged the digital divide that exists within APEC economies, but stressed that enhancing information and communication technology (ICT) use in education will be key to achieving APEC's education goals and to sustaining economic growth.

Chairing the 5th APEC Education Ministerial Meeting, Ju-Ho Lee, Korea's Minister of Education, Science and Technology, and the APEC Education Ministers present, issued a joint statement that pledged to "fostering regional innovative growth, promoting future skills suitable for the global society, creating innovative instructional delivery systems, and fostering more collaborative policy decisions that provide for our common fulfillment."

With Russia as host of APEC in 2012, fostering innovative growth has been identified as a key priority – together with expanding regional economic integration, strengthening food security, and establishing reliable supply chains.

"We are witnessing endless potential of ICT use in education," said Korean Minister Lee in his keynote address when he opened the meeting.

"ICT is no longer confined as a method of efficient information exchange – it is now an essential tool for problem solving and critical thinking," he added.

The Ministers also agree that "educational cooperation is an essential driving force for sustainable, secure, inclusive, innovative, and balanced growth" – the key attributes of the APEC Leaders' Growth Strategy.

"Educational cooperation in the APEC region should not be limited to simple information exchange, but rather it needs to grow and expand to a deeper level of cooperation for all people and institutions in the APEC region," explained Minister Lee.

APEC Education Ministers also recognized that increased cooperation among education providers, businesses, and other stakeholders is needed to overcome global and regional challenges, including reducing economic and digital divides.

Addressing the Ministers, Russia's Deputy Minister of Education and Science, Sergei Ivanets emphasized that "cooperative education is an integral part of fostering regional innovative growth."

"In order to have competitive economies and citizens, who feel comfortable in the modern world, we must unceasingly improve our educational systems," he added.

The conclusions of the meeting will be reported to APEC Economic Leaders when they meet in September in Vladivostok, Russia. APEC Ministers of Trade and Foreign Affairs will also be provided with a report on the practical actions that will advance the educational goals set here on Wednesday.


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Issued by Chair of the APEC Economic Committee

APEC has made a good start towards achieving its aspirational goal of improving the ease of doing business across the Asia-Pacific region by 25% by 2015, according to Dr Takashi Omori, chair of APEC's Economic Committee.

APEC has been working with member economies to make it cheaper, faster and easier to do business in the region in five key areas: starting a business, getting credit, enforcing contracts, trading across borders and dealing with permits.

An assessment shows APEC is making good progress toward the 5% interim improvement target by 2011. APEC's improvement in the five areas between 2009 and 2010 was 2.8%, exceeding a pro rata benchmark of 2.5%, the assessment says.

Although the assessment is good news, APEC must push ahead with assisting economies to carry out further regulatory reform to improve the environment for businesses, especially small and medium sized ones, trading around the region, Dr Omori said.

"Promising progress has been reported in the areas that the Economic Committee is directly responsible for," Dr Omori said.

"Although APEC is making good overall progress toward the interim target, achieving the 25 percent by 2015 will require considerably more work," he said.

The Economic Committee and APEC's independent research arm, the Policy Support Unit, conducted the interim assessment based on the World Bank's Doing Indicators data. The assessment has been presented to APEC senior officials in Honolulu, and is available for download from the APEC website.

The APEC Economic Policy Report to be published next year will assess APEC's full-year 2011 progress using the recently released 2011 World Bank data.

APEC has carried out capacity building projects, including workshops and seminars, to assist economies improve administrative procedures and undertake regulatory reforms in the five key areas. APEC is now implementing programs tailored to the improvement needs of individual economies, as part of efforts to meet the 2015 target.

The efforts are part of APEC's wider strategy for structural reform that aims to achieve strong, balanced and inclusive economic growth in the region. APEC Leaders last year endorsed the APEC New Strategy for Structural Reform that encourages improvements to institutional frameworks, regulations and government policies including those that promote open, well-functioning, transparent and competitive markets.

Dr Omori said the Economic Committee has made good progress this year in implementing the strategy, pointing to various activities to facilitate reform in the region. The committee will also examine the specific plans set out by APEC's 21 economies so it can tailor individual activities to provide further support.

Individual APEC economies this year outlined their priorities and benchmarks for tracking progress on structural reform. This report has also been presented to APEC senior officials and is available for download from the website.



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Issued by 18th APEC Finance Ministers' Meeting

APEC Finance Ministers today pledged to decisively address risks to the global economy to restore confidence, financial stability and sustainable growth.

Meeting in Honolulu, Ministers acknowledged that growth and job creation have weakened in the region, particularly in advanced economies, while inflation remains elevated in many. Capital flow volatility has intensified in response to heightened risk aversion.

Hosting the 18th APEC Finance Ministers' Meeting, US Treasury Secretary Timothy Geithner and other APEC Finance Ministers issued a joint statement that pledged to "take coordinated actions to strengthen the global recovery, reinforce financial sector stability, maintain open markets and build a foundation for strong, sustainable and balanced growth".

Ministers reviewed the conclusions of the G20 and committed to take coordinated actions. Advanced economies committed to implement clear, credible and specific measures to achieve fiscal consolidation. Economies with large current account surpluses committed to reforms to increase domestic demand, coupled with greater exchange rate flexibility. 

Ministers committed to move more rapidly toward more market-determined exchange rate systems and enhance exchange rate flexibility to reflect underlying economic fundamentals. They also reiterated that excess volatility and disorderly movements in exchange rates have adverse implications for economic and financial stability. 

Ministers also took stock of APEC's work on infrastructure financing and financial empowerment. They said that accelerating infrastructure investment and improving service delivery will contribute to boosting the recovery and is critical for sustaining economic growth in the Asia-Pacific region.

They also recognized that a significant number of residents in the region still lack effective access to safe and reliable financial services and affirmed their commitment to expand the reach of safe and reliable financial services in APEC economies to strengthen and broaden economic growth.

Ministers reaffirmed their shared interest in reforming the financial sector to better meet the needs of our economies.

APEC Finance Ministers also considered analysis and perspectives from the President of the Asian Development Bank, the President of the Inter-American Development Bank, the Managing Director of the World Bank Group, the Deputy Managing Director of the International Monetary Fund, and the APEC Business Advisory Council.

APEC Finance Ministers will deliver their joint statement to APEC Economic Leaders when they meet on 12 - 13 November in Honolulu. 

Joint Ministerial Statement and Photos are available. 

# # #

For more information, contact: Michael Chapnick +1 (202) 262 8306 at mc@apec.org or Augustine Kwan +65 9831 0717 at ak@apec.org.

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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Issued by APEC Senior Officials' Meeting

Senior officials from the 21 member economies of the Asia-Pacific Economic Cooperation (APEC) forum worked to finalize their recommendations to Ministers and Leaders this week as they met for the final time this year. APEC aims to promote sustainable growth and facilitate job creation by deepening regional economic integration.

U.S. Ambassador for APEC Kurt Tong, who chaired the meeting, was pleased with the strong progress made since the previous meeting in San Francisco in September, enabling the senior officials to present a robust package of ambitious recommendations to their Ministers and Leaders later in the week.

U.S. President Barack Obama will host the APEC Economic Leaders' Meeting here on November 12 and 13.

APEC representatives recommended ways to build toward a seamless regional economy by advancing three priorities in 2011: strengthening regional economic integration and expanding trade and investment; encouraging green growth; and advancing regulatory cooperation and convergence in order to reduce the barriers that businesses—especially smaller companies—face in the region.

"Our Ministers and Leaders now have a great set of policy recommendations to consider when deciding how best to promote cooperation and enhance prosperity throughout the region," Ambassador Tong said.

APEC officials proposed ways to address barriers to trade and investment, including work on "next-generation" issues that businesses confront today throughout the region, thereby encouraging the growth of businesses and the creation of new jobs.

Senior officials discussed how APEC can make progress to catalyze environmentally sustainable growth, encourage the trade of environmental goods and services, and foster the implementation of environmentally responsible policies and standards. APEC senior officials also made strides toward advancing cooperation and convergence in regulations between economies, so that businesses can trade more easily throughout the region.

"Our business community, particularly small and medium-size companies, should be quite pleased by the quality and number of concrete outcomes the United States and its APEC partner economies have achieved in 2011, particularly in our priority areas of strengthening regional economic integration, promoting green growth, and advancing regulatory convergence and cooperation," said Wendy Cutler, Assistant U.S. Trade Representative for Japan, Korea, and APEC Affairs.

"Our hard work and cooperation on these issues should continue to yield benefits to all our stakeholders for many years."

In addition to packaging the recommendations for Leaders, the senior officials also adopted the APEC Consolidated Counter-Terrorism and Secure Trade Strategy to better promote a secure environment conducive to growth and prosperity in the APEC region, launched an APEC Travel Facilitation Initiative to make travel throughout the region easier, faster, and more secure; and agreed to a reporting system to track economies' progress as they phase out inefficient fossil-fuel subsidies.

APEC's work in these areas is making an important contribution to strengthening regional integration and expanding trade—and will move economies in the region closer to achievement of the vision of a free trade area of the Asia-Pacific (FTAAP), a next-generation trade agreement, removing barriers to trade throughout the APEC region.

In addition, there are several other APEC meetings in Honolulu during Leaders' Week: the Senior Finance Officials' Meeting, the Deputy Finance Ministers' Meeting, the Finance Ministers' Meeting, the APEC Ministers Meeting (during which foreign and trade Ministers meet jointly), and the APEC Economic Leaders' Meeting.

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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Business leaders today welcomed new legislation giving US citizens access to the APEC Business Travel Card scheme, a crucial tool for business travel in the Asia-Pacific region.

US President Barack Obama signed the bill today before addressing business executives at the APEC CEO Summit in Honolulu, describing the scheme as an "APEC business gold card."

The law allows US business people to apply for the card, increasing their mobility by expediting scheduling of visa interviews and fast-tracking processing at immigration checkpoints in APEC economies throughout the region.

"I just signed a piece of legislation that was voted on unanimously out of Congress that essentially sets up an APEC business gold card," President Obama told the summit to applause.

"Everybody here appreciates it because they're not going to have to wait in line as long at the airport," he said.

Deb Henretta, chair of the APEC Business Advisory Council (ABAC), welcomed the new law which "will help US citizens take advantage of business and trade opportunities in the fast-growing Asia-Pacific region."

"Access to the APEC Business Travel Card will save US business people valuable time and money as they travel throughout the area," said Ms Henretta, who is P&G Group President, Asia.

Rich Lavin, Group President of Caterpillar, said the law "is good news for U.S. business people as they travel in the region, working to expand into Asia-Pacific markets and business opportunities for their companies."

"The legislation is a clear signal that the United States is assisting businesses as they forge stronger trade ties in the region," said Mr Lavin, also an ABAC member.

Currently, the United States fast-tracks card holders via special lanes at key immigration checkpoints. The new legislation, which passed the US Congress earlier this month, allows US senior business people to apply for the cards which will enable them to use special fast-track lanes at major airports and seaports in APEC economies.

US Customs and Border Protection is working to implement the program as soon as possible. Once production of the card commences in the United States, information will be available at USA-ABTC@dhs.gov and http://www.businessmobility.org/travel/index.asp 

More than 100,000 active cardholders regionwide currently enjoy the benefits of the ABTC and the APEC business community's interest in the scheme continues to grow. A new study has found the number of cardholders was 88, 421 at the end of 2010, up 11.4% from 2009, and up 430% from 2006.

The scheme facilitates business travel in the Asia-Pacific by allowing cardholders pre-cleared immigration entry into the 18 fully participating member economies, eliminating the cost and time involved obtaining visas. Canada, Russia and the United States are transitional members. Card holders are allowed expedited transit through special fast-track lanes at major airports and seaports in all 21 economies.

The study by the Policy Support Unit, an independent research unit at APEC, also found transaction costs for card holders have been reduced by 38%. The continued improvement of the ABTC scheme means even more benefits for business travellers in the Asia-Pacific.

The study found that transaction costs for card holders were reduced by 38% from March-July 2011 over the previous 12 months, which translates to total savings of US$ 3.7 million. Card holders were surveyed between March and July this year and asked about their travel patterns over the last 12 months.

The study found cardholders saved 43.3% in time costs completing visa applications over the 12 month period used in the survey. They spent 27.8% less money on fees for visa applications and saved 54.4% in time costs completing immigration procedures at airports.

"This shows that APEC is committed to improving the scheme which already saves business leaders valuable time and money," said Agnieszka Holland, Chair of the APEC Business Mobility Group which oversees the scheme.

"The ABTC is one of APEC's great success stories; it contributes to APEC's goal of free and open trade and investment in the Asia-Pacific, and shows how practical cooperation can be achieved," Ms Holland said.

The study was conducted as part of an assessment of APEC's Second Trade Facilitation Action Plan (TFAP II). The assessment found APEC had reached its target of reducing trade transaction costs by 5% across the Asia-Pacific region between 2007 and 2010.

The 5% reduction resulted in US$ 58.7 billion in total savings for business, the assessment found.

Under TFAP II, APEC has been carrying out initiatives around the region to encourage economies to undertake reforms and improvements to streamline trade in four priority areas; customs procedures, standards and conformance, business mobility and electronic commerce (data privacy and paperless trading).

# # #

For more information, contact: Michael Chapnick +65 9647 4847 at mc@apec.org or Augustine Kwan +65 9831 0717 at ak@apec.orgor Trudy Harris + 65 98983710 at th@apec.org.

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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Issued by the 23rd APEC Ministerial Meeting

APEC Ministers today committed to concrete actions to strengthen economic integration and expand trade, promote green growth and advance regulatory convergence and cooperation to achieve economic growth in the region.

At the end of their annual meeting, chaired this year by U.S. Secretary of State Hillary Rodham Clinton and U.S. Trade Representative Ron Kirk, APEC Ministers released a joint statementoutlining specific initiatives to advance the three priority areas.

"Global trends and world events have given us a full and formidable agenda, and the stakes are high for all of us." said Secretary Clinton in her opening remarks.

"We are each trying to generate balanced, inclusive, sustainable growth that delivers good jobs for our citizens; economic, social, and environmental progress for our nations; and shared prosperity for this region."

In their joint statement, Foreign and Trade Ministers agreed to actions on integration and trade, including by addressing next-generation trade and investment issues that a future Free Trade Area of the Asia-Pacific should contain.

"APEC has traditionally been a laboratory for some of the best and newest ideas in global commerce.  We believe the outcomes of this year will keep APEC's agenda on the cutting edge for the next 20 years.  We want to ensure that new regional agreements anticipate and address 21st century issues relevant to business in the region," said Ambassador Kirk.

"We also have successfully addressed challenges that small and medium-sized businesses face when doing business in the region," said Ambassador Kirk when he discussed the outcomes of the APEC Ministerial Meeting at a joint press conference today.

Trade Ministers also discussed the Doha Development Agenda and released a standalone statement emphasizing "our collective deep concern regarding the impasse that now clearly confronts" the agenda and the reality that a conclusion of all elements is unlikely in the near future.

They committed to approaching the World Trade Organization trade negotiations "with a view to fresh thinking and a determination to begin exploring different, innovative and credible approaches."

Ministers also reaffirmed and extended their commitment through 2015 to refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing WTO-inconsistent measures in all areas.

APEC Ministers acknowledged the uncertain global trading environment, including signs of increased protectionist measures, which continue to be a matter of serious concern.

Other areas targeted for action include: improving supply chain performance by establishing de minimus values that exempt shipments from customs duties; promoting trade and investment in environmental goods and services; and strengthening good regulatory practices by ensuring internal coordination of rule-making, assessing the impact of regulations, and conducting public consultations in APEC economies.  

Secretary Clinton also hosted a High-Level Policy Dialogue with Ministers, senior officials and business leaders on reducing disaster risk and strengthening economic resiliency, in the wake of the Japan earthquake and tsunami, floods in Thailand and other recent natural disasters in the region.

Ministers issued a standalone statement calling on officials to work towards improving disaster resiliency, including by working with businesses to develop specific tools to help them prepare for natural disasters.

Secretary Clinton hosted a second High-Level Policy Dialogue on open governance, which, along with transparency, is critical to economic competitiveness, leading to sustainable economic growth.

"We share the belief that markets, trade, and investment are vital to our prosperity," Secretary Clinton said. "So today, I look forward to hearing from everyone about ways we can continue to build an enduring regional economic architecture that is open, free, transparent, and fair."

Releasing a standalone statement, Ministers said good governance should continue to be an APEC priority, taking stock of the group's recent efforts to promote good governance, encourage ethical business practices and fight corruption.

# # #

For more information, contact: Augustine Kwan +65 9831 0717 at ak@apec.org or Trudy Harris +65 9898 3710 or Michael Chapnick +1 (202) 262 8306 at mc@apec.org.

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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As part of efforts to strengthen policy making in the Asia-Pacific, APEC hosted a conference in Singapore examining the use of Input-Output tables, a valuable statistical resource for many economies.

Policy makers, academics and economists from around the region gathered at the conference to build capacity on developing Input-Output Tables (IOTs), used by economies for national accounts and internationally to show the complex linkages between economies.

IOTs are a key tool for economic modelling since they show economic exchanges of goods and services among industrial sectors, said Alexey Ponomarenko, Director of the International Institute for Education in Statistics at the Higher School of Economics, Moscow.

Building a greater understanding of IOTs is important for APEC given its mission to strengthen economic integration in the region. Ideas and decisions on integration should be based on best practice and detailed information such as data and analysis from IOTs, said Dr Ponomarenko, who chaired the November 24-25 conference.

"If policy makers' understanding of the economy and international economic linkages are refined, it may progressively change the way governments formulate and implement their policies," he said.

IOTs have enabled deeper understanding of trade patterns in the globalized market place, including modern supply chains, experts told the conference.

Research using IOTs has revealed highly fragmented and sophisticated production networks in the Asia-Pacific region, whose interdependency is deepening and shifting towards China, said Satoshi Inomata from the Institute of Developing Economies of JETRO in Japan.

IOTs are valuable for measuring the value-added component of traded products, because they distinguish between intermediate inputs and final products.

"Value-added measures can change our impression of comparative advantage," said Dr. William Powers, international economist with the US International Trade Commission.

Increased understanding of value-added trade could have implications for domestic trade policies including the relevance of some protectionist measures, the conference was told.

WTO Senior Statistician Christophe Degain explained that "so-called 'national products' may actually be predominantly produced in other economies, while products of foreign trademarks may be manufactured in the domestic market."

IOTs are also being used to help economies calculate their greenhouse gas emissions from production and international trade. Developing a detailed analysis of economies' carbon footprint could impact on policies for sustainable economic growth, an APEC priority, the conference heard.

A summary of the conference will be sent to APEC Senior Officials for discussion. The conference was sponsored by Russia's Ministry of Economic Development and organized by the Higher School of Economics, a Moscow-based National Research University.

Useful links:

The WTO Made In the World Initiative (MIWI) http://www.wto.org/miwi

International Input-Output Analysis Studies Group, IDE-JETRO, Japanhttp://www.ide.go.jp/English/Research/Topics/Eco/Io/index.html

WTO/IDE-JETRO joint publication "Trade patterns and global value chains in East Asia: From trade in goods to trade in tasks"http://www.wto.org/english/res_e/booksp_e/stat_tradepat_globvalchains_e.pdf

Koopman et al., 2010, "Give Credit Where Credit is Due"http://www.nber.org/papers/w16426

USITC, 2011, "The Economic effects of significant U.S. import restraints" http://www.usitc.gov/publications/332/pub4253.pdf

Integrated Sustainability Analysis, The University of Sydney www.isa.org.usyd.edu.au

Higher School of Economics (National Research University), Moscow www.hse.ru/en



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Issued by the 19th APEC Economic Leaders' Meeting

Today US President Barack Obama hosted leaders of the of the Asia-Pacific Economic Cooperation (APEC) forum in Honolulu, Hawaii.

With the adoption of the "Honolulu Declaration," leaders agreed to take concrete steps toward building a "seamless regional economy" that will generate growth and create jobs in three priority areas: strengthening regional economic integration and expanding trade, promoting green growth, and advancing regulatory convergence and cooperation.

Photos and video are available of the meeting.

Leaders agreed to address two key next generation trade and investment issues facing the region. They committed to help small and medium-sized enterprises grow and better plug into global production chains. They also committed to promote effective, non-discriminatory and market-driven innovation policies, including by not conditioning government preferences on commercial goods and services on the location of the development or ownership of intellectual property.

Economies agreed to develop by 2012 a list of environmental goods that contribute to green growth and sustainable development on which economies are resolved to reduce applied tariff rates to five percent or less by the end of 2015. Economies will also eliminate non-tariff barriers, including local content requirements that distort environmental goods and services trade. The APEC economies also decided to phase out inefficient fossil fuel subsidies, setting up a reporting mechanism to track progress, and raised their APEC-wide energy intensity reduction target, to 45 percent by 2035.

Leaders committed to take specific steps by 2013 to implement good regulatory practices in their economies, including by ensuring internal coordination of regulatory work; assessing regulatory impacts; and conducting public consultation.

Leaders also expressed deep concerns regarding the impasse confronting the Doha Development Agenda.

"Fresh thinking involving innovative approaches is required, including possibilities that involve advancing specific parts of the Doha agenda where consensus might be reached on a provisional or definitive basis," Leaders said in their Declaration.

Given the precarious position of the global economy, Leaders also shared their views on the state of the global economy, the sources of global growth, and what it means for job creation.

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For more information, contact: Augustine Kwan +65 9831 0717 at ak@apec.org or Trudy Harris +65 98983710 at th@apec.org or Michael Chapnick +1 (202) 664 6245 at mc@apec.org.

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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The recent meeting of APEC Leaders in Honolulu was a resounding success.

Not only did Leaders agree to a series of measures to further break down trade barriers in the Asia-Pacific, they committed to strengthening cooperation in the region. Uncertainties facing the global economy and a succession of natural disasters in the region galvanised Leaders to firmly resolve to work together to support strong, balanced and sustainable growth.

At the Honolulu meeting, Leaders agreed to take concrete steps in three priority areas, all of which are geared towards generating growth and creating new jobs by promoting free trade and investment. Specifically, Leaders focused on strengthening regional economic integration and expanding trade; promoting green growth; and advancing regulatory cooperation and convergence.

APEC also addressed "next-generation trade and investment issues" that future free trade agreements and indeed an eventual Free Trade Area of the Asia-Pacific should contain. High-quality trade agreements have the potential to open up markets, throughout the region, boosting businesses, improving livelihoods and giving customers better deals.

The "next generation" issues identified for action include fostering the participation of small and medium-sized enterprises (SMEs) in global production chains. SMEs account for around 90% of all businesses and employ as much as 60 percent of the work force in the region. Increasing their participation in global markets is vital.

Leaders also agreed to encourage innovation, recognizing that generating and commercializing new ideas is critical to future growth and prosperity. Specifically, they agreed to promote non-discriminatory and market-driven policies that foster competition and encourage development of innovation. APEC will work, for example, to remove restrictions on foreign direct investment, and provide effective protection of intellectual property rights.

For APEC, this means forging ahead in 2012 with a myriad of initiatives to further trade and investment liberalization and regional economic integration, such as improving the region's supply chain to reduce the time, cost and uncertainty of moving goods and services throughout the region. APEC's working groups are tackling eight key chokepoints, including customs inefficiencies, inadequate transport networks and infrastructure and regulatory impediments, with a goal to improve supply chain performance by 10% by 2015.

To make green growth a reality, APEC economies agreed in Honolulu to a series of actions, including reducing tariffs on environmental goods to 5%. APEC will develop a list of these goods in 2012 targeted for tariff cuts. Current estimates suggest that tens of trillions of dollars of investment will be required in the coming years to meet our clean energy, clean air, sanitation and other environmental goals. Ensuring that member economies can meet these goals at the lowest cost, using the latest technologies, while also creating new, green jobs will be a significant challenge. Lowering tariffs on green goods will increase availability and use in the region, supporting sustainable economic growth. Going further, APEC Leaders also committed to phase out inefficient fossil fuel subsidies that encourage wasteful consumption. And to increase energy efficiency, they agreed to reduce the region's energy intensity by at least 45% by 2035, almost doubling the previous commitment.

On the third priority, Leaders agreed to take specific steps to implement good regulatory practices in their economies by 2013, including by ensuring internal coordination of regulatory work; assessing regulatory impacts; and conducting public consultation. Transparent, efficient and harmonised regulations significantly ease the burden on businesses, especially SMEs, trying to comply with them.

Leaders also instructed APEC to push ahead with its initiative to encourage economies to undertake structural reforms to achieve balanced and sustainable growth. This five-year initiative also focuses on advancing inclusive growth by promoting reforms that create labor market opportunities, training and education, and develop social safety net programs, as well as advance SMEs, particularly so that opportunities are created for women and vulnerable populations.

The Honolulu meeting was the culmination of 12 months' hard work and cooperation among members under the stewardship of the United States. This cooperation is set to continue in 2012 when Russia, and then in 2013 Indonesia, take over as chair. In fact, cooperation has been at APEC's core since its inception in 1989.

We have taken great care to measure the results of our efforts. In Honolulu, Leaders were presented with the successful outcome of APEC's work on trade facilitation, including cutting the cost of doing business in the region. An independent assessment showed that trade transaction costs were reduced by 5% across the region between 2007 and 2010, saving businesses a total of US$58.7 billion.

APEC's work to break down trade barriers, facilitate business and enhance economic and technical cooperation delivers real, concrete benefits for people living across the region. Over a 10-year period, from 1999 to 2009, APEC's collective GDP grew by 29.2 percent, employment by 10.8 percent, while poverty was reduced by 35 percent.

Such figures support the fact that this region has seen steady growth in recent years. The prognosis is that this will continue, but significant risks, including contagion from the Eurozone crisis and inflation in some economies, loom large. APEC will therefore continue to work to break down barriers to free trade and investment to achieve growth as well as enhance job creation and regional development.

APEC Leaders have shown over the years that through cooperation we can help bring increased prosperity to the Asia-Pacific region and its people.

This op-ed by APEC Secretariat Executive Director Ambassador Muhamad Noor was first published in Business World online in the Philippines.



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Facing a global economic slowdown and uncertainty in the financial sector, APEC senior officials gathered in St. Petersburg this week to set their priorities for 2012 aimed at boosting growth in trade and investment in Asia-Pacific.

The meeting took place just three weeks after APEC Economic Leaders met in Honolulu, United States, where they took concrete steps toward building a seamless regional economy to generate growth and create jobs.

Chairing APEC in 2012, Russia announced the theme for next year, "Integrate to Grow, Innovate to Prosper", and pledged to facilitate APEC's collective efforts to increase sustainability and the pace of development.

With full support from APEC member economies, Russian Senior Official, Ambassador Gennady Ovechko, announced that APEC will seek to achieve tangible results based on the following priorities:

Liberalizing trade and investment and expanding regional economic integration

Strengthening food security;

Establishing reliable supply chains; and

Fostering innovative growth.

Ambassador Ovechko said regional economic integration plays a key role in promoting peace and stability. Describing the shift towards the Asia-Pacific, he expressed concern that the Eurozone crisis could influence financial distortions on world commodity markets, trade and investment.

"To address these concerns, APEC will seek to make progress on a number of issues such as integration, investments, fighting protectionism, securing food markets, establishing reliable supply chains and fostering innovation policies," said Ambassador Ovechko, who chaired the Informal Senior Officials' Meeting.

He said APEC has an important role to play in improving regional and global food security.

"Facing major challenges to the food supply, such as price fluctuations, APEC will search for sustainable development in the agricultural sector, facilitation of investment and trade, establishing efficient and resilient food markets and market infrastructure."

"In 2012, APEC will pursue proposals for sustainable agricultural development and stable markets including increased transparency, monitoring and information exchange on agricultural production, and developing policies for community resilience and a more inclusive food supply for socially vulnerable population groups."

Ambassador Ovechko also said APEC will prioritize addressing the major chokepoints in supply chains to better ensure the smooth flow of trade.

"Reliability of the supply chain is the key issue in APEC and worldwide. They should respond to possible risks related to routing, maintenance and development," said Ovechko. "It is necessary to ensure appropriate risk management, safe operation and protection of transport and transportation facilities."

In 2012, APEC plans to push for policies that encourage innovation in the region that will increase productivity and ensure economic growth.

"We believe that fostering cooperation in innovation will help us boost future trade and investment in APEC, improve existing and build new global production and supply chains," he said.

"Some areas include developing hi-tech sectors and addressing barriers to investment; promoting technological progress among all APEC economies through networking among innovation centers; and providing APEC platforms for cooperation where business and scientists can discuss markets and policy needs."

APEC officials will convene throughout 2012 in Russia, including Moscow in February, Kazan in June and Vladivostok in September. Ministers will also meet during the year in these cities, as well as in St. Petersburg, Khabarovsk and Yaroslavl. Finally, the APEC Economic Leaders' Meeting will be held on Russky Island in Vladivostok on 8 - 9 September 2012.



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The potential of the Trans-Pacific Partnership is enormous. Nine APEC economies are currently negotiating the regional free trade agreement, with the latest informal round held in Kuala Lumpur.

The agreement will cover more than USD 500 billion worth of current trade, if talks are eventually successful, according to research by APEC's Policy Support Unit. But that's a drop in the ocean compared with the possible end game. APEC Leaders have agreed that the TPP could become a building block for a much-wider Free Trade Area of the Asia-Pacific, a long-term APEC goal.

The nine economies achieved broad outlines of the TPP agreement on the sidelines of the APEC Leaders' meeting in Honolulu in November. And other economies including Japan, Canada and Mexico have expressed an interest in joining. Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, Vietnam, and the United States will now push ahead with their negotiations with the aim of forging a high-quality agreement that sets new standards for international trade and reflects the growing economic importance of the Asia-Pacific region.

APEC has played a supportive role in developing the TPP since its beginnings in 2002, along with other free trade agreements, because advancing free trade is our core mission. Since its inception in 1989, APEC and its 21 member economies have been working hard to achieve greater regional economic integration, primarily by breaking down trade and investment barriers, at, across and behind borders, to help build sustainable economic growth. APEC's achievements on this front have delivered real results for people living throughout the region, in the form of increased incomes, lower unemployment and poverty.

A TPP agreement also aims to enhance trade flows and strengthen integration among participating economies, potentially creating more jobs. And the TPP is designed to be a living agreement, meaning it can be expanded to include new economies. This objective suits APEC's agenda, particularly given our vision for a Free Trade Area of the Asia-Pacific.

APEC Leaders first proposed a FTAAP in 2006 at their meeting in Hanoi. But in 2010 they agreed that now was the time to turn this aspirational goal into a concrete one. A FTAAP should be pursued, they said, as a comprehensive free trade agreement by developing and building on regional groupings such as the TPP and ASEAN+ among others. With that in mind, they tasked APEC with the role of incubator for a FTAAP, including by addressing "next generation" trade and investment issues that it should contain.

As a result, APEC in 2011 has advanced issues such as greater regulatory convergence and cooperation among economies and strengthening supply chains, which will improve the flow and goods and services and the ease of doing business in the modern, globalised world. APEC's work on these issues can also transfer into other negotiations, including the TPP, where parties are looking to develop and include such "next generation" issues in their agreements.

Despite sharing some similar objectives, APEC and the TPP are distinctly separate forums and with different approaches. APEC is non-binding and non-negotiating, and achieves results through open dialogue, cooperation and peer pressure. Given its unique structure of large and small, and developed and developing economies, APEC is also well placed to build the capacity of its members to participate in free trade negotiations and meet the obligations of resulting agreements. And thanks to APEC's non-binding approach, members are free to explore, analyse and mature ideas for overcoming trade barriers before implementing them. In other words, APEC can successfully tackle a wide range of issues that might be more difficult for forums that seek to create formal commitments.

In 2012, TPP economies will hold a series of negotiations to push them closer to a final agreement. APEC too, chaired by Russia and then Indonesia in 2013, will diligently continue its own work to facilitate trade in the Asia-Pacific region, to support stronger economic growth and increased prosperity for all.

This op-ed by APEC Secretariat Executive Director Ambassador Muhamad Noor was first published in the New Straits Times in Malaysia.



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Building upon the mechanism launched last year for regional cooperation on data privacy law enforcement, APEC announced that an additional 15 authorities from Japan have joined the APEC Cross-border Privacy Enforcement Arrangement (CPEA).

The CPEA facilitates information sharing and cooperation between public authorities responsible for enforcing data privacy laws in the APEC region. By providing a mechanism to help investigate and enforce privacy laws across borders, the CPEA seeks to promote consumer trust in e-commerce, which will benefit business and trade in the Asia Pacific. It is a key step in APEC's long standing efforts to increase e-commerce and cross-border trade in the region.

The Consumer Affairs Agency of Japan, one of the new authorities in CPEA, stated that "We are delighted to have become a member of the APEC Cross-Border Enforcement Arrangement, since we believe that the Arrangement is a valuable instrument for the protection of personal information in the region. This could also help create an environment conducive to the development of the electronic commerce. We are determined to work together with the member economies to farther promote this undertaking."

Ms. Danièle Chatelois, Chair of the Data Privacy Subgroup of APEC's Electronic Commerce Steering Group (ECSG), welcomed this development. "The participation of privacy law enforcement authorities from Japan further strengthens APEC's cooperation arrangements to the benefit of consumers across the region," she said.

The arrangement provides a process under which participating authorities may contact each other for help with collecting evidence, sharing information on an organisation or matter being investigated, enforcing actions, and transferring complaints to another jurisdiction. The 15 Japanese authorities join five existing participant authorities from Australia, Canada, Hong Kong, New Zealand and the USA.

The authorities from Japan that have been formally accepted as CPEA participants are: the Cabinet Office; Consumer Affairs Agency; Financial Services Agency; Ministry of Agriculture, Forestry and Fisheries; Ministry of Defence; Ministry of Economy, Trade and Industry; Ministry of Education, Culture, Sports, Science and Technology; Ministry of Environment; Ministry of Finance; Ministry of Foreign Affairs; Ministry of Health, Labour and Welfare; Ministry of Internal Affairs and Communications; Ministry of Justice; Ministry of Land, Infrastructure, Transport and Tourism; and the National Police Agency.

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For more information, contact: Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick at mc@apec.org or (+65) 9647 4847.



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APEC will focus on taking concrete measures to address challenges facing the global economy as its sub-fora and Senior Officials meet for the first time in 2012.

The cluster of events within APEC's First Senior Officials Meeting (SOM1) and related meetings opened on 30 January in Moscow with the core mission of identifying practical initiatives in 2012 to substantiate the priorities Russia as APEC host economy has set forth for this year:

Liberalizing trade and investment and expanding regional economic integration

Strengthening food security

Establishing reliable supply chains

Cooperating to foster innovative growth

"We continue to pursue the ambitious goal to build a seamless regional economy that will ensure long-term prosperity," said Gennady Ovechko, Ambassador-at-large and Senior Official of Russia for APEC.

"For APEC in 2012, this means taking concrete measures to further boost trade and investment in the Asia-Pacific and to inclusively and comprehensively respond to rising global economic and financial challenges," Amb. Ovechko said.

Under the theme "Integrate to Grow, Innovate to Prosper," APEC will forge ahead with addressing trade and investment issues, including aligning technical regulations and standards, to make it easier, faster and cheaper to do business in the region.

APEC will also focus on improving regional and global food security by supporting sustainable development in the agricultural sector. APEC will also take steps to raise the quality and safety of food products, enhance conformity to food safety standards and ensure a more inclusive food supply for vulnerable groups.

"APEC economies are vulnerable to food security risks, including the frequent threat of natural disasters in the region," Amb. Ovechko said.

"However APEC is well placed to help improve regional and global food security, with its members accounting for half of world grain production and including major exporters and importers of agricultural products."

On the third priority, APEC will continue with key initiatives aimed at improving the supply chain to reduce the time, cost and uncertainty of moving goods and services in the region, with a goal to increase performance by 10% by 2015.

APEC will also contribute to the development of innovation strategies and policies of its 21 members, recognizing that fostering innovation is important to increasing productivity and economic growth. 

APEC will also develop measures to foster cooperation on major innovation projects related to strengthening trans-border interaction and networking among businesses, academia and government institutions and addressing barriers to investment in high technology sectors.

Up to now, delegates have covered issues in such areas as e-commerce, life science innovation, anti-corruption, business mobility, food security, mining, health, intellectual property rights protection and chemical industry.

Looking ahead, APEC's working groups and task forces are holding meetings on their many initiatives and projects for 2012 until February 19 when Senior Officials meet. Afterward, a press briefing on progress made in Moscow will be held at that time. 

More detail about the priorities for this year and a summary of APEC's work last year can be found in the APEC Outcomes and Outlook 2011/2012 booklet on the APEC website.  

# # #

For more information, contact Michael Chapnick +7 911 71 4983 (in Moscow) at mc@apec.org or Augustine Kwan +65 98310717 at ak@apec.org.

For details about media arrangements for the upcoming Moscow meetings, please email apec2012media@forumspb.com or visit http://www.apec2012.ru.

Details about APEC meetings, events, projects and publications can be found at www.apec.org. You can also follow APEC on Twitter and join us on Facebook.



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Regulatory coherence is important to achieving regional economic integration, especially as it relates to strengthening regional supply chains, agreed APEC regulatory officials this weekend in Moscow.

Officials gathered here on Saturday to share successful practices that have been used to improve their regulatory frameworks and how these reforms can cultivate open and competitive markets.

New Zealand's APEC Senior Official, Clare Fearnley, said that domestic regulation policy often has an impact on trade and investment and these impacts should be identified and taken into account as part of the policy development process.

"Coherence between domestic and international policy goals can be achieved through good regulatory impact analysis," said Fearnley who chaired the discussions.

 "Regulatory cooperation reflects the goal of reducing the regulatory barriers to trade and investment created by different laws in different countries through cooperation between economies," she continued. "Regulatory coherence in this respect is between the laws and agencies of two or more economies."

Regulatory coherence within the customs union of Belarus, Kazakhstan, and Russia was achieved after conducting consultations with the business community in each of those economies, and eventually at the highest levels of political leadership.

"Taking into consideration the interests of business, we introduced three categories of regulations for children's' products, food items and machinery that are traded across borders," said Vladimir Salamatov, Deputy Minister for Trade and Industry when he provided an example to participants. "Though it took a year to develop these regulations, the timeline was necessary in order to get critical inputs from the business community and ensure the sustainability of the system." 

Regulatory cooperation has been an important area of focus for APEC because better regulation and better alignment of regulatory approaches can boost growth and deepen regional economic integration.

Last year in Honolulu, APEC Leaders endorsed a study which identified a wide variation of practices to assess regulatory impacts. Acting on this finding, member economies are cooperating with one another to close the gap.

"Improving regulatory development policies in the APEC region have the potential to significantly benefit all of the region's economies," said Clayton Harrington, Australia's project manager for an APEC-funded project to enhance regulatory impact analysis in the region. "Training conducted over the course of the year will help eligible member economies improve the quality and efficiency of regulation development."

"A workshop on regulatory impact analysis conducted at Russia's Ministry of Economic Development last week for a range of federal and state officials, business and academia provided exposure to practical experiences in Australia, Mexico and New Zealand on tackling inefficient and costly cross-jurisdictional regulation through the implementation of deregulation priority reforms, competition reform and improved regulatory processes," Harrington explained. "These workshops will be conducted across the region and the results will be reported to Ministers when they meet in Vladivostok in September." 



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Issued by the APEC Economic Committee

Reforms to reduce excessive export and import procedures in developing APEC economies could raise GDP by USD 1.4 trillion and create over 36.5 million jobs, said an analysis today.

Regulators from around the Asia-Pacific gathered in Moscow on Sunday and Monday to study various approaches to improving the business environment and make progress toward the APEC-wide goal to make it cheaper, quicker and easier to do business across the Asia-Pacific region by 25% by 2015.

According to APEC Policy Support Unit senior analyst, Carlos Kuriyama, APEC is on track to reaching this goal.

"On average, APEC economies have reduced the time it takes to prepare import and export documents," he explained. These savings have resulted in a 6.8 percent drop in the time it takes to export, or in monetary terms, a reduction of approximately USD13 per container. The cost of importing fell even more to about USD 22 per container."

"Nonetheless, there is still room for improvement," Kuriyama continued. "APEC members stand to benefit from additional reforms."

Using the Trade Facilitation Impact Calculator, developed under the USAID-funded TCBoost project, Olin McGill, an independent consultant for the APEC Technical Assistance and Training Facility, predicted that APEC developing economies would become much more efficient if they minimized document processing and reduced the time it takes to clear customs, handle goods at the ports, and improved inland transportation. McGill benchmarked these potential gains based on the success of ten reforming economies.

"When governments make it cheaper, faster and easier for businesses to operate, transaction values and volumes increase dramatically, growing the economy and providing jobs for citizens," said Mr. McGill who described reforms conducted in Georgia.

Despite uneven progress among APEC economies, members have seen some positive results.

Improving its ranking in the World Bank's Ease of Doing Business report, Korea undertook several reforms to make it easier to start a business. These changes lead to greater efficiency.

"Abolishing minimal capital requirements and eliminating notary certifications for small enterprises were just some of the revisions to corporate law that led Korea to advance to the top tier of the rankings," said Seungmo Koo who is with Korea's Ministry of Justice.

"Reducing the time it takes to start a business from 14 days to 6 days resulted from the development of an online system for companies to submit applications," he continued.

Thailand has made dramatic improvements by creating a customer friendly and demand-driven registration environment. This incremental progress is the result of improvements to financial policy and institutions and on regulations affecting SME, according to Wimonkan Kosumas, Deputy Director General in the Office of SMEs Promotion.

Thailand is reforming industry's understanding by examining successful cases where risk was lowered by combining management guidance and a diversified credit decision with actual financing. It has also made some positive policy adjustments on SME financing, which provides a strong signal to SMEs as they seek access to credit.

Indonesia, Malaysia and Peru also discussed the challenges they have overcome and how the reforms they have undertaken improved the business environment in those economies.

Member economies will continue to meet until 21 February when Senior Officials convene to review the progress towards the eventual Leaders' Meeting in Vladivostok, which will be held in September.

# # #

For more information, contact Michael Chapnick +7 911 71 4983 (in Moscow) at mc@apec.org or Augustine Kwan +65 98310717 at ak@apec.org.

For details about media arrangements for the upcoming Moscow meetings, please email apec2012media@forumspb.com or visit http://www.apec2012.ru.

Details about APEC meetings, events, projects and publications can be found at www.apec.org. You can update your subscription to news alerts and the APEC Bulletin, follow APEC on Twitter and join us on Facebook.



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Issued by the APEC Economic Committee

APEC economies should continue to pursue regulatory reforms to support and bolster small businesses in light of the current global economic situation, APEC's Policy Support Unit (PSU) says.

According to the first APEC Economic Trends Analysis, real GDP in the APEC region is projected to grow by 4.1% in 2012 and 4.5% in 2013, while GDP in the world is forecast to slow to 3.3% in 2012 before accelerating to 3.9% in 2013.

The global economic slowdown and a series of natural disasters in the region have created new challenges for businesses, the report finds. This includes delays in investment decisions, declines in corporate performance, and difficulties in accessing credit due to deleveraging among banks.

"These challenges are particularly problematic for APEC's small businesses due to their vulnerability to market fluctuations," APEC Policy Support Unit director Denis Hew said.

"APEC's policy responses to the crisis should therefore seek to address both temporary and structural deficiencies in the SME operating environment, in conjunction with other fiscal and monetary measures to maintain the region's macroeconomic and price stability," Dr Hew advised.

Small and medium sized enterprises represent a significant portion of businesses in the private sector in all APEC economies and employ over half of the region's workforce. They are the key generators for employment and income, driving both innovation and growth.

"One of APEC's ongoing priorities is to address obstacles that inhibit cross-border trade and investment by removing barriers to doing business, as well as supporting the region's small businesses through capacity building efforts," said Louis Bono, chair of the APEC Economic Committee.

"APEC is also continuing to pursue its new strategy for structural reform that includes creating a more business-friendly environment through eliminating constraints and barriers to business set-up and growth," Bono explained.

These reforms are particularly relevant for emerging APEC economies where private enterprises face higher regulatory costs, the report says. In addition, in many emerging markets, businesses are facing extra pressure from the risk of rising inflation.

"Reforms are also important for developed APEC economies where weakening fiscal positions imply that, in the short to medium term, the public sector may find it difficult to provide the same stimulus to economic growth," Hew concluded.

The PSU report recommends expediting the pace of structural reform among APEC economies and enhancing awareness of the areas where structural reform would add the most value to achieving a more resilient and competitive economy.

The PSU's APEC Economic Trends Analysis provides an overview on emerging trends underlying the region's economic prospects by providing in-depth analysis on recent macroeconomic and financial developments in the APEC region.

The APEC Policy Support Unit provides independent research and analysis to the forum's 21 member economies to guide work on enhancing free trade and investment which contributes to strengthening economic growth in the region.



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Issued by 1st APEC Senior Officials' Meeting

Now that Russia is joining the World Trade Organization, discussions within APEC on trade liberalization will grow wider and deeper, said Russia's Senior Official for APEC.

Russia's Deputy Minister of Foreign Affairs Igor Morgulov made the remarks over the weekend when he introduced the priorities for APEC Russia 2012 at the first Senior Officials' Meeting in Moscow for which he is the chair.

The priorities include trade and investment liberalization and regional economic integration; food security; supply chains connectivity; and fostering intensive cooperation for innovative growth. In particular, Morgulov expects that cooperation among APEC member economies will bring about concrete action.

"We expect our cooperation in the fundamental APEC spheres of regional economic integration and trade liberalization to yield practical results," said Morgulov. "Consolidated positions among APEC member economies should jumpstart multilateral trade talks and make them more constructive."

Senior Officials agreed to cooperate on food security because all member economies have a stake in ensuring that food is available, affordable, safe and of high quality.

"In light of the growing social commitments of governments in the aftermath of the global financial crisis, we must strive to develop stable food markets and dampen price fluctuations," Morgulov continued.

"Furthermore, we must continue to search for ways to ensure agricultural development based on increasing mutual investments, modern technologies and compliance with quality standards."

The prospects of greater integration in APEC are closely connected to the need to ensure reliable supply chains in the region. Proposals were put forward to achieve APEC's overarching goal of a 10 percent efficiency gain across supply chains by 2015, specifically to reduce time, cost and uncertainty.

"We need to apply a broader approach and move faster in improving supply chain connectivity within APEC in order to contribute to the resiliency and development of APEC economies," said Morgulov.

"We also need to understand the challenges that we face concerning APEC supply chains, as well as assess the risks in trade corridors between APEC and other markets."

APEC has prioritized innovation-based economic development as crucial for stable economic growth. Senior Officials discussed possible ways to promote extensive interaction among universities, research centers and the business community.

"Cooperation in education and the development of human capital is vital," said Morgulov. "The protection of intellectual property is also becoming increasingly important. We also see opportunities for advancing joint initiatives in these spheres within APEC."

Seeking the views of the private sector, Senior Officials also heard from Ziyavudin Magomedov, this year's chair of the APEC Business Advisory Council and Summa's Group's Chairman of the Board of Directors. He said that ABAC is working on specific policy recommendations for leaders and that the ongoing dialogue between business and APEC officials enhances the effectiveness to benefit communities.

"Next week in Hong Kong we will be refining and finalizing the detailed work programs for ABAC's groups and, hopefully, reach agreements on the targets set for 2012," said Magomedov. "Under the theme, 'Aspirations to Reality,' the ABAC work program will focus on transportation and logistics, technology transfer, food security and eco-cities."

Senior Officials also considered the progress made members to build capacity in the areas of regulatory coherence, emergency management; and human resources development.

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For more information, contact Michael Chapnick +65 9647 4847 at mc@apec.org or Augustine Kwan +65 98310717 at ak@apec.org.

For details about media arrangements for the upcoming Moscow meetings, please email apec2012media@forumspb.com or visit http://www.apec2012.ru.

Details about APEC meetings, events, projects and publications can be found at www.apec.org. You can update your subscription to news alerts and the APEC Bulletin, follow APEC on Twitter and join us on Facebook.



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Issued by APEC Business Advisory Council (ABAC)

Asia-Pacific leaders must guard against protectionist responses to global economic challenges by actively pursuing initiatives aimed at achieving open trade and investment.

Business leaders from the Asia Pacific region urged the Asia-Pacific Economic Cooperation (APEC) to give priority to accelerating regional economic integration, developing stronger infrastructure and supply chains, strengthening food security, and fostering innovative growth as it begins its work this year under the Chairmanship of Russia of taking further steps towards realizing the goal of an integrated Asia Pacific economy.

Business leaders representing the 21 economies met in Hong Kong from February 21-24 for the first of four meetings in preparation for developing their recommendations, which they will present to APEC Leaders in Vladivostok in September.

"Central to our agenda this year is the goal of bringing economies closer together by tackling remaining barriers to the free flow of goods, services and investment and in developing collective responses to the shared challenge of the sustainability of economic growth" said the new Chair of the APEC Business Advisory Council (ABAC), Mr. Ziyavudin Magomedov of Russia.

With this in mind, ABAC developed a work program for 2012 under the theme "From Aspiration to Reality" which focuses on liberalizing and facilitating trade and investment leading ultimately to a Free Trade Area of the Asia Pacific (FTAAP), initiating a new services agenda, strengthening energy and food security, establishing reliable supply chains and fostering innovative growth including through technology dissemination and financial instruments. The work on supply chain follows on a report commissioned by ABAC in 2011 that showed the relative importance of supply chokepoints in terms of money and time and identified recommendations to alleviate the impact of these chokepoints. With respect to FTAAP, ABAC has noted the continuing development of a number of possible pathway agreements that could eventually lead to FTAAP and calls for the broadest possible participation in such initiatives among APEC economies.

"The development of SMEs will continue to be a major component of our work program. And since strong financial markets underpin the region's growth prospect we will also be developing recommendations to APEC Finance Ministers including on such issues as the stability and integration of financial markets, improving financial access for micro, small and medium enterprises, and addressing the implications of current financial systems reform in the G20" added Magomedov.

ABAC also held a dialogue with APEC Senior Officials at the Hong Kong meeting as part of its continuing effort to strengthen collaboration in the development of the APEC work agenda that would reflect the interest of business. The creation of a public private Policy Partnership on Food Security (PPFS) in APEC, which will have its inaugural meeting in Kazan, Russia this year marked a significant advancement of ABAC's engagement with APEC, having proposed the idea of institutionalizing business input in the development of food security policies some years ago.

About ABAC

ABAC brings together up to three business leaders from each of the APEC's 21 economies. They provide APEC Leaders with information regarding priorities and concerns of business sector.

For more information, please contact:

Ms. Leyla Mamedzadeh, ABAC Executive Director 2012, Email: Kudieva@nbcapec.ru 
Mr. Antonio Basilio, ABAC Secretariat, Tel: (63 2) 845-4564, Email: abacsec@pfgc.ph 
Mr. Tu Anh Tuan, APEC Secretariat, Tel: (65) 6891 9649, Email: tat@apec.org



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This year's typhoon season is well under way and the tropical cyclones that are forming will affect over 48 million people living in the Asia-Pacific. Most recently, Typhoon Ma-On lashed south-western Japan, injuring dozens of people and grounding over 100 flights.

This and the effects of the Indian Ocean Tsunami, the earthquakes in China's Sichuan province, Chile, and New Zealand, floods in Australia and the triple-headed disasters in Japan just this March serve as critical reminders of the negative repercussions these disasters have on the supply chain and the need for emergency preparedness to ensure the economic vitality of the region.

The world has watched in horror as these large scale disasters destroy lives and cripple economies. APEC recognizes that these threats can greatly undermine its efforts to facilitate trade, raise living standards, and reduce poverty in the region. For that reason, APEC includes human security in its original economic agenda. Clearly, both are complementary as human security is essential to the region's growth and prosperity. Emergency preparedness is vital to support economic development.

Last week, APEC held a workshop in Da Nang on how to cope with abnormal flood disasters, especially those with higher magnitude and lower predictability. Indeed, this area suffered a little over three years ago from the devastating Typhoon Xangsane which hit the nearby city of Hue and damaged 166,000 homes, downed numerous power lines, and flooded major streets. An estimated US$200 million in economic losses were incurred and the disaster claimed 26 lives.

Mitigating these effects are important for APEC because this region comprises 52 percent of the earth's surface area and is home to 40 percent of the world's population. It also experiences over 70 percent of the world's natural disasters.

In response to the Indian Ocean Tsunami, APEC has been working toward such vital emergence preparedness solutions since 2004 and established its task force for emergency preparedness. Since then, numerous workshops and studies have been conducted across the region to share experiences and best practices in coping with emergency situations. More recently, APEC Leaders reaffirmed the importance of enhancing human security and reducing the threat of disruptions to business and trade in the Asia-Pacific region.

Now, the APEC Emergency Preparedness Working Group is playing a more pivotal and constructive role in enabling the region to better prepare for, and respond to, emergencies. Currently, the working group is implementing projects ranging from wildfire management to precipitation forecasting. The group is also undertaking a study to help make schools in the APEC region more resilient to seismic shocks, utilizing the OECD's school earthquake safety policy. And this month in Sendai, Japan, the group will hold a workshop aimed at fostering private sector preparedness and business continuity planning. As we all know the coastal areas of Sendai suffered catastrophic damage from the Tohoku tsunami in March of this year.

Another key initiative by APEC is the establishment of the APEC Climate Center in 2005. Located in Busan, Korea, this Center houses some of the region's best climate scientists and develops real-time climate data using state-of-the-art climate prediction systems. This high-cost climate information is then made readily accessible to all APEC economies.

The notion of Secure Growth – or protecting APEC's citizens' economic and physical well-being – was enshrined in the APEC Leaders' Growth Strategy last November. Members were specifically instructed to strengthen disaster risk reduction approaches and develop mechanisms to maximize resilience in the region.

The first line of defense of disaster management lies in preparedness and training. Addressing these issues will therefore help APEC economies, businesses and everyday citizens build their capacity to better respond to natural calamities. APEC recognizes that dealing with disasters requires a coordinated and integrated response. While deploying emergency response units is not part of APEC's effort – for it far exceeds APEC's mandate as a trade and investment forum – APEC's delivers its value through working closely with other complementary organizations including the UN and ASEAN – for example, with the ASEAN Coordinating Centre for Humanitarian Assistance, a newly established unit that facilitates cooperation and coordination on disaster management and emergency response issues.

Emergency preparedness will, no doubt, continue to remain at the center of APEC's human security agenda. Given the magnitude and unpredictability of recent natural catastrophes, this agenda is increasing in both urgency and seriousness. Thus, APEC's contribution grows more vital with each passing year.

Ambassador Muhamad Noor is the Executive Director of the APEC Secretariat in Singapore.



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Issued by the APEC Expert Group on New and Renewable Energy Technologies

As the world moves toward embracing renewable energy solutions, the adoption of smart grid technology is vital to the economic and environmental future of the APEC region.

Smart grids are one of the key conduits to increasing the adoption rate of renewable energy technologies, said Dr. Jerry Ou, Director-General of Chinese Taipei's Ministry of Economic Affairs' Energy Bureau, at the opening of the APEC workshop on addressing challenges in deploying Advanced Metering Infrastructure (AMI) and smart grids.

"The adoption of renewable energy technologies and the deployment of AMI and smart grids are potential solutions for energy crises and environmental protection," said Dr. Ou.

Developing smart grids and deploying AMI to facilitate the delivery of energy to homes and businesses is also important because it enables the flow of new and renewable energy sources to consumers.

"To move forward, we need a new kind of electric grid that is capable of delivering new and renewable energy sources such as wind or solar," said Dr. Tom Lee, Chair of the APEC Expert Group on New and Renewable Energy Technologies.

"We need a grid that can automate and manage the increasing complexities and electrical needs of the 21st century."

APEC recognizes smart grid development as a way to address climate change and improve energy efficiency. Smart grids also promote green growth, which is a key priority for APEC during the 2011 US host year. AMI systems are viewed as foundational technology for smart grids.

Dr. Ou underscored the value of smart grids and AMI technology to APEC economies because of its economic and environmental significance if it is deployed globally.

The recent disaster in Fukushima, Japan highlighted the need for "demand-side management solutions" to solve electricity shortage crises – problems that may increase with growing environmental and energy demand challenges.

In 2010, the value of smart meters worldwide was US$4.3 billion, and may reach as much as US$15.2 billion by 2016. Currently within APEC economies, about 12 million smart meters are deployed in the US, with penetration rate reaching 8.7%. China has purchased 48 million smart meters in the past 2 years. Chinese Taipei also announced an AMI deployment plan in 2010.

AMI is an integral component of smart grid development as it enables two-way communication between consumers and suppliers. An AMI system typically consists of a "smart meter" at the customer's premise, a communications network between the smart meter and the utility, and a system to monitor the data.

"Increasing the adoption rate of renewable energy technologies is dependent on smart grid development, which is in turn dependent on the development of AMI", Dr. Ou said.

"AMI is considered as the key to turn current power systems into intelligent ones, as it measures, collects and analyzes energy usage."

The two-day APEC workshop on AMI and smart grids follows the 37th APEC Expert Group on New and Renewable Energy Technologies Meeting that was held earlier this week in Chinese Taipei, where energy experts from APEC economies gathered to discuss their current energy priority needs.

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For more information, contact: Augustine Kwan +65 6891 9674 at ak@apec.org or Michael Chapnick +65 6891 9670 at mc@apec.org

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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APEC invites the Asia-Pacific region's photographers to interpret APEC's priorities by submitting their pictures by October 10 for consideration by a panel. The winning shots will be announced in Honolulu in November during the lead-up to the APEC Economic Leaders' Meeting.

To increase engagement with stakeholders, participants should examine the relationship between trade and investment on the one hand and sustainable growth on the other.

Contestants should submit photos that are inspired by three categories: 1) strengthening regional economic integration and expanding trade; 2) promoting green growth, and 3) advancing regulatory convergence and cooperation. The contest's themes reflect the policy priorities that APEC set for 2011.

"These photographic inputs will help inform the decisions we make as we move the agenda forward," said Ambassador Muhamad Noor, Executive Director of the APEC Secretariat. 

"We recognize the challenge that we have put before the contestants but we know that the region's innovative spirit will produce photographs that capture a compelling visual narrative."

The contest is open to amateur and professional photographers in all APEC economies. Contestants can submit up to three photos during the submission period which closes on October 10, 2011. Submitted photos must be the photographer's original work. Those who wish to enter the competition simply have to fill in a form and send their entries to contest@apec.org.

Over SGD 5,000 in prizes will be awarded to the winners. Winners will be selected based on the quality of photograph, composition, overall impact, and artistic merit, as well as how well it represents the three themes.

APEC Facebook fans will also have a chance to vote for their favorite photo under the popular choice category. The public voting period begins on October 17 when the finalists' photos will be displayed at www.facebook.com/APECnews. Public voting ends on October 31.The photo with the most votes on APEC Facebook stands to win SGD 1,000.

The three winning entries will be chosen by a panel of international judges including Eric Baradat, AFP Photo Editor-in-Chief (Worldwide); Mladen Antonov, AFP Photo Editor-in-Chief (North America); Palani Mohan, Reportage by Getty Images Photographer; Ambassador Muhamad Noor; and Ambassador Kurt Tong, U.S. APEC Senior Official.

For further contest information and submission details, please refer to the APEC photo competition website (http://www.apec.org/photocontest) and Facebook page (www.facebook.com/APECnews)

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The APEC Business Advisory Council today called on APEC governments to collaborate more with the private sector to address the causes of the recent uncertainty in global financial markets. The current situation has created disincentives for private sector investment and risks rekindling protectionist sentiments.

"We are asking governments to work together and with their own business communities to develop plans to stimulate inclusive economic growth and create jobs in the short-term and work towards balanced growth in the long term with the ultimate objective of a Free Trade Area of the Asia Pacific" said ABAC Chair Deb Henretta.

Business leaders of the APEC Business Advisory Council (ABAC) met in Lima this week to finalize their recommendations to be presented to APEC Economic Leaders and discussed in depth with them in Honolulu in November. At the meeting, ABAC Members expressed their concern about a potential rise in protectionist sentiments and asked Leaders to reconfirm their commitment to reject protectionist policies.

ABAC's 2011 Report to Leaders focuses on regional economic integration, sustainable growth and small, medium and micro enterprises (SMME) as critical areas where the business community can help fulfill a vision of 21 economies working towards 21st Century prosperity.

For regional economic integration, ABAC has developed an integrated supply chain and value chain framework to help build understanding of the complex nature of global supply chains and to identify chokepoints obstructing the efficient flow of goods and services throughout the region. The disruptive impact of Japan´s devastating earthquake and tsunami in March highlights the highly integrated nature of the supply chain and the importance of business continuity preparedness.

ABAC has also identified next generation trade issues in areas such as competition policy, investment, services, government procurement and skilled labour shortages, and recommended key policy approaches for APEC governments to work towards regulatory coherence throughout the region.

Under the theme of sustainable growth, ABAC calls for collaborative action between the private sector and the public sector to address food security, as well as greater trade and cooperation for environmental goods and services. In addition, the Council finalized the Framework for Energy Security, which will serve as a source of recommendations and guidance to the region's policy-makers.

Fostering a strong business environment for SMMEs is vital for growth and job creation in all economies. ABAC is leading capacity building efforts through a range of activities aimed at enhancing opportunities and raising awareness of issues affecting smaller businesses, including regional SMME summits, and efforts to promote greater economic inclusion of young entrepreneurs and women.

Through these activities and many more, ABAC is focused on assisting governments achieve growth, greater economic integration and stability across the region.



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Issued by the First APEC Meeting of Ministers Responsible for Forestry

Recognizing the role of resource and energy constraints, climate change, loss of biological diversity, poverty and food insecurity, APEC Ministers Responsible for Forestry released a statement to support green growth, sustainable forest management and rehabilitation.

Under the theme "Enhanced Regional Cooperation for Green Growth and Sustainable Forestry Development", APEC Ministers discussed:

New opportunities and challenges facing forestry in Asia and the Pacific;

Wise use of forest resources to improve livelihoods and promote sustainable development;

Strengthening forest governance and management to; and

Enhancing practical cooperation to achieve inclusive growth for the forest sector in the region.

The ministers reaffirmed the United Nations Conference on Environment and Development Forest Principles and the United Nations Non-Legally Binding Instrument on All Types of Forests.

Taking into account the natural and socio-economic diversity of the APEC economies, the ministers also recognized the different development needs and objectives of APEC economies in conservation, sustainable management and rehabilitation of forests.

Furthermore, the ministers recognized that forestry, with its unique roles and contribution to sustainable development, has the potential to be a leading sector to achieve green growth.

The statement noted the significance of the contribution of forests in socio-economic development, environmental sustainability, poverty eradication, climate change, and green growth.

In the statement, APEC ministers recalled the Sydney Declaration in 2007 to enhance work on meeting the aspirational goal of increasing forest cover in the region by at least 20 million hectares of all types of forests by 2020. They also recalled the 2010 Yokohama APEC Leaders' Declaration to address to address concerns with illegal logging and associated trade and to promote sustainable forest management and rehabilitation.

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For more information, contact:  Ai Ghee Ong +65 6891 9671 at oag@apec.org or Michael Chapnick +65 6891 9670 at mc@apec.org. Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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Transportation and energy ministers from 21 economies in the Asia-Pacific region agreed to continue progress on initiatives to make transportation in the region cleaner and more energy-efficient, US Transportation Secretary Ray LaHood and US Energy Secretary Steven Chu announced on Tuesday.

The announcement came during the first-ever joint Transportation and Energy Ministerial Conference held by the Asia-Pacific Economic Cooperation (APEC), the principal economic organization for the region.  Secretaries LaHood and Chu hosted the San Francisco meeting.

"To create jobs and lay the foundation for a prosperous future, we must grow our economies while staying mindful of 21st-century challenges like climate change and energy efficiency," Secretary LaHood said.  "Our roadways, runways, railways, waterways, and transit systems all must move greater numbers of people and products while leaving a smaller environmental footprint."  

"Transportation is directly tied to our energy challenges," Secretary Chu said. "To achieve economic prosperity, strengthen energy security, and protect the environment, we can – and must – move to a sustainable transportation future."

Recognizing that transportation accounts for a large share of energy use and greenhouse gas emissions, the ministers directed their energy and transportation working groups to study ways that APEC members could make their transportation systems more energy-efficient.  The ministers noted that APEC economies are making good progress toward the goal, adopted by the organization in 2007, of reducing the use of energy in economic activity by at least 25 percent by 2030, and called for efforts to make further improvements.  They also called for further efforts to phase out subsidies that promote the use of fossil fuels.

Other actions called for by the ministers include:

Developing energy-efficient transportation systems for livable, low-carbon communities – The ministers recognized how livable communities contribute to reducing energy use, carbon emissions and travel times.  They called for the development of performance measures to evaluate how locating development near transit, expanding rail and bus service, and promoting bicycling and walking contribute to more energy-efficient transportation.

Providing alternative fuels for transportation – The ministers called for the promotion of biofuels, natural gas vehicles and electric vehicles to reduce the use of oil in transportation.  They also stressed the need to maintain consumer confidence in electric vehicles by taking precautionary steps to ensure their safety, and called for harmonized approaches to addressing the safety of these vehicles.

Making freight transportation more energy-efficient – Because freight transportation accounts for a substantial share of energy use in the APEC region, the ministers said that the working groups would develop strategies and best practices for improving energy efficiency in the movement of freight.  They also called for measures to encourage shippers to switch from energy-intensive transportation modes, such as trucks, to more efficient rail and maritime transportation.

The joint Transportation and Energy Ministerial Conference will be followed on Wednesday by the 7th Transportation Ministerial Meeting, during which APEC transportation ministers will further discuss promoting innovative, environmentally sustainable transportation.  They also will discuss the need for enhancing regulatory cooperation among the APEC economies and with relevant international organizations as appropriate, and for strengthening regional integration by removing barriers to trade and investment.




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U.S. Secretary of Energy Steven Chu announced today the winner of the inaugural APEC Science Prize for Innovation, Research and Education (ASPIRE Prize) on the sidelines of the APEC Transportation and Energy Ministerial Conference in San Francisco.

Winning the prize for his innovative research on how nanomaterials drive a new generation of solar energy technology Dr. Ali Javey, an Associate Professor at the University of California, Berkeley and the Co-Director of the Berkeley Sensor and Actuator Center, was recognized for his research commitment to both excellence in scientific research, as evidenced by scholarly publication, and cooperation with scientists from other APEC member economies.

When he awarded the US$ 25,000 prize to Javey, U.S. Secretary Chu praised the winner for his collaboration with scientists across the APEC region.  

"Dr. Javey's research and the research of his fellow ASPIRE nominees have the power to unlock science in ways that will propel our economies," said Secretary Chu. "This is science that can and will help to solve our shared challenges."

Dr. Javey was selected from among a pool of 11 contenders by the APEC Industrial Science and Technology Working Group (ISTWG). The Lead Shepherd of the ISTWG, Madam Wan Zaharah Wan Mohamad, noted that the economies nominated "exceptional and high potential candidates" whose specialization ranged from nanotechnology to nuclear safety.

"The selection committee was very impressed with Dr. Ali Javey's cutting edge research in green electronics. He is an example of a highly accomplished young researcher," Wan Zaharah said in a written statement. "All the nominees are winners for their economies and for the APEC region as each have its own merits and significant contributions to science."

Ambassador Muhamed Noor, Executive Director of the APEC Secretariat, expressed hope that the ASPIRE Prize will continue to encourage young scientists to conduct world-class research in the region.

"The ASPIRE prize demonstrates APEC's commitment to supporting research and development in the region and we also recognize that science and technology is an integral component for economic development," said Noor as he offered his congratulations to Dr. Javey.

Dr. Javey is the first recipient of the ASPIRE Prize. "In receiving this prize I have to acknowledge the talented scientists I have the privilege of working with around the world and, in particular, in the APEC region," he said. "It is by working together that we are able to do the most exciting scientific research."

Dr. Ali Javey is an Associate Professor at the University of California, Berkeley and the Co-Director of the Berkeley Sensor and Actuator Center.  He has developed low-cost, flexible, and lightweight photovoltaic cells that can achieve a theoretical efficiency of 20 percent or more and can be easily rolled onto roofs and other surfaces.  Dr. Javey has also developed transistor arrays that use a fraction of the power of conventional silicon transistors. He has produced 81 publications with over 5,000 citations in peer-reviewed journals including Nature, Advanced Materials, and the Journal of the American Chemical Society.

More information on the other nominees can be found at http://www.apec.org/aspire2011. The ASPIRE Prize is sponsored by John Wiley & Sons, Inc. and Elsevier.



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APEC Transportation Ministers pledged on Wednesday to continue working towards a safe, secure, seamless, and sustainable transportation system at the 7th APEC Transportation Ministerial Meeting in San Francisco, California.

Ministers discussed the efficient and safe transportation of people and goods given that it is a key component for free and open trade and investment in the Asia-Pacific region. The promotion of trade involves improving the procedures regulating the international movements of goods as they impact on costs, apart from reductions in tariffs.

While Ministers recognized the transportation sector's immense contributions to economic development, they also agreed safety and security are critically important aspects.  

They also discussed the importance of and ways for encouraging women to work in transportation.

At the conclusion of the ministerial meeting, a joint ministerial statement was issued. It covers:

Promoting Green Growth and Innovation in Transportation

Enhancing Regulatory Cooperation

Strengthening Regional Economic Integration

Some of the actions pledged by the ministers include:

Promoting energy efficient transport, and directed the APEC Transportation Working Group to give priority to developing and promoting fuel efficient transport practices, including the use of alternative fuels as well as the development of corresponding energy efficient transport infrastructure.

Protecting the environment and ensuring sustainable, long-term growth in the region.

Enhancing cooperative efforts to align domestic standards to relevant international standards where possible by focusing on concrete results to improve regulatory outcomes consistent with international obligations and with good regulatory practice.

Urging economies to comply with the standards and recommended practices of the International Civil Aviation Organization and the International Maritime Organization, and instructing the APEC Transportation Working Group to collaborate with these organizations in the areas of security, safety and the environment where appropriate.



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With economic models straining in every corner of the world, no economy can afford to perpetuate the barriers facing women in the workforce, said US Secretary of State Hillary Clinton today at the APEC Women and the Economy Summit in San Francisco.

The summit addressed access to capital and markets for women, building their capacities and skills, and supporting the rise of women leaders in the public and private sectors. Participants also discussed innovation, green growth, technology, entrepreneurship, and public-private partnerships.

Secretary Clinton said that by increasing women's participation in the economy and enhancing their efficiency and productivity, a dramatic impact on the competitiveness and growth of the region's economies can be achieved.

Describing the enormous challenges economies face, Secretary Clinton said that economies must remove the structural and social impediments to achieve full parity for women in the workforce.

"Laws, customs, and the values that fuel them all act as roadblocks to full inclusion," said Clinton. "In the United States and in every economy in APEC, millions of women are still sidelined, unable to find a meaningful place for themselves in the formal workforce.

"The twenty-one economies of APEC are among the most dynamic in the world. Together, we represent more than half of total global economic output.  And more than 60 percent of women in the APEC economies are part of our formal workforces."

She said that economies can begin to close that gender gap by making it possible for more women to unleash their potential as workers, entrepreneurs, and business leaders.

"We must commit to giving women access to capital so women entrepreneurs can turn their ideas into the small and medium enterprises that are the source of so much growth and job creation in our economies," she explained.

"We must examine and reform our legal and regulatory systems so women can avail themselves of the full range of financial services.  Such reforms can also help ensure that women are not forced to compromise on the well-being of their children to pursue a career," said Clinton.

Following the remarks, ministers and senior officials met in a High Level Policy Dialogue on Women and the economy and adopted the San Francisco Declaration. These policy recommendations will be delivered to the APEC Economic Leaders' Meeting, scheduled for November 12-13, 2011 in Honolulu, Hawaii.



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Chronic disease is one of the top threats to global economic security, said U.S. Secretary of Health and Human Services, Kathleen Sebelius when she joined Ministers and other high level APEC officials as well as leading academics and health industry CEOs.

Secretary Sebelius described the daunting challenges facing the Asia Pacific region and the rest of the world when she addressed the APEC Health Systems Innovation Dialogue last week in San Francisco, California.

"In the United States, chronic diseases account for 7 out of 10 deaths," said Secretary Sebelius. "But this is not just an American problem."

"In 2008, there were 16.5 million deaths from chronic disease in the Asia Pacific region. By 2030, global death from chronic disease is projected to rise to 52 million people," she added.

"Chronic disease lowers productivity and raises absenteeism," when she explained the significant economic costs.

Alongside the considerable challenges of infectious and re-emerging diseases, total global deaths from chronic diseases alone are projected to rise to 52 million by 2030. It was also predicted that Alzheimer's and depression will become significant elements of the overall chronic disease profile.

Experts at the APEC Health Systems Innovation Dialogue attributed this to the ageing demographics and lifestyle choices in the United States and Asia-Pacific economies.

Officials acknowledged that innovation, multi-sectoral collaboration, and public-private sector partnerships are important for implementing a new action plan to reduce the burden of chronic diseases.

Recognizing this regional threat, APEC health ministers agreed to develop an APEC Action Plan to Reduce the Economic Burden of Non-Communicable Disease and Secretary Sebelius emphasized the private sector's role.

"Business, in particular, has an interest in joining this fight," Sebelius continued. "If you don't feel the impact of chronic disease in rising health care costs, then you'll feel it in lower productivity from your employees or a rising number of sick days."

The Action Plan requires Asia-Pacific economies to: (1) adopt approaches to policy development that involve all government agencies and health stakeholders; (2) establish public-private partnerships focused on leveraging innovations to strengthen health systems to meet the chronic disease challenge; and (3) share best practices and track outcomes on chronic disease prevention, detection, and control activities.

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Issued by APEC Life Sciences Innovation Forum

The spread of unsafe and counterfeit medicines is a serious problem and a coordinated global effort is needed to address this public health threat.

At the APEC Drug Safety and Detection Technology workshop this week in Beijing, China, regulators, customs officials, law enforcement officials, pharmacopeia officials, industry representatives, consumer organizations and detection technology industry representatives from the APEC region learned about drug safety detection technology best practices and worked together to develop strategies on how to make use of drug safety detection technologies to promote safe medicines.

A key supporter of the initiative in the United States, US Food and Drug Administration Commissioner Margaret Hamburg emphasized the importance of standards to protect against the scourge of counterfeit, falsified or substandard medicines.

"Counterfeit, falsified or substandard medicines have the potential to harm the health of individuals and the public health of APEC economies," Dr Hamburg said from Washington, D.C.. "Improving the security of the supply chain for safe, effective and high quality medicines requires a global effort and APEC economies are taking an important step forward."

"Drug safety detection technologies will help investigators and regulators identify these counterfeit, falsified or substandard products," continued Dr Hamburg. "This will enhance the integrity of the drug supply and protect the public health."

The illicit trade in medicine also negatively impacts business, innovation, investments, economic development, and job creation.

"Some of counterfeit or falsified medicines are so similar to the genuine product that they deceive health professionals as well as patients," said APEC Project Overseer Jeffrey Gren of the U.S. Department of Commerce.

"But they are always illegal and threaten health and safety, and at times could be deadly" he explained. "This workshop is part of APEC's continuous efforts to address this public health challenge."

The workshop builds upon previous efforts in APEC to promote safe medicines, which have focused on cooperation and strategies to combat counterfeiting and promote the quality of medicines.

During the workshop's concluding session, participants agreed upon the following future activities:

The development of a drug safety detection technologies guidance document, based upon members' inputs, which will provide advice to APEC economies on how to integrate the use of drug detection technologies into a comprehensive program to improve drug safety and to stop the spread of falsified/counterfeit medicines.

Possible future APEC drug safety and security projects and workshops, in implementation of the APEC LSIF Anti-counterfeit Medicines Action Plan, such as public awareness, strategies to stop internet sales of falsified/counterfeit medicines and drug safety good distribution practices.



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Issued by the APEC Secretariat

A successful conclusion to the Trans-Pacific Partnership negotiations currently underway would cover more than USD 500 billion worth of trade among its members, according to research published by APEC's Policy Support Unit.

The Trans-Pacific Partnership (TPP) involves negotiations between nine APEC economies – Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, Viet Nam and the United States – for a free trade agreement (FTA), which, if concluded, would become one of the largest in the Asia-Pacific region.

The PSU research, which is separate to the negotiations, focuses on how APEC and the TPP could be mutually useful in achieving their objectives, despite their different approaches.

This includes removing tariffs, reducing other barriers to trade and increasing convergence across the region on rules and regulations covering a range of trade areas, such as customs procedures, rules of origin and services.

"The TPP agreement would bring together a significant number of APEC members from both sides of the Pacific Rim under a single FTA. The impact of this possibility would be significant. If the current negotiations are successful, at least nine APEC economies would be subject to similar rules mutually agreed," the report says.

The research shows that some USD 500 billion of current trade between the nine economies would be covered by the TPP, which represents 6.7 percent of total intra-APEC trade. The share of TPP trade as a percentage of each economy's trade with the world would vary. Currently, US trade with TPP economies covers 5.5% of total US trade, for example, while New Zealand trade with TPP economies covers 38.2% of total New Zealand trade.

The report, the Mutual Usefulness between APEC and TPP, shows that initiatives undertaken by APEC since its inception to address trade and investment barriers could provide useful guidance and references for TPP participants to help them achieve an agreement.

Among APEC initiatives outlined in the research are model measures developed to promote consistency in FTAs across the region. The measures in areas ranging from transparency to dispute settlement can be useful references for APEC members negotiating FTAs.

APEC also acts as an incubator of ideas to address "next generation" barriers to trade and investment in a range of areas such as supply chain connectivity, which TPP participants can then use to develop their high-quality agreement.

As a non-binding and consultative forum, APEC and its members can explore and develop voluntary guidelines, principles or initiatives to trade issues more easily than can be achieved during formal negotiations, including TPP negotiations, for binding trade agreements.

"APEC's role as an incubator, as reinforced by Leaders in 2010, is very clear. Thanks to APEC, many ideas have matured after being discussed and analysed by its members before being implemented," the report says.

"Likewise, TPP represents a boost to the APEC agenda, no matter APEC's condition as a non-binding and non-negotiating forum, since current TPP negotiations have the potential to generate a substantial outcome that allows APEC to achieve great progress in strengthening its regional economic integration work program, meeting the goals of free and open trade and investment, and promoting convergence across the region," it says.

"If successful, an expanded TPP is a good opportunity to have a large number of APEC economies under a single FTA."

The research follows the declaration by APEC Leaders at their 2010 meeting that the TPP, along with other regional architecture such as the ASEAN+3 and the ASEAN+6, could be building blocks to achieve a wider Free Trade Area of the Asia-Pacific (FTAAP).

At that meeting in Yokohama, Leaders stated that now is the time for APEC to turn its aspirational goal of a FTAAP into a more concrete vision. APEC was therefore tasked with the critical role to provide leadership and intellectual input into the process of the development of a FTAAP and by defining, shaping and addressing the "next generation" trade and investment issues such high-quality agreements should contain.

"As well as many other integration schemes within the APEC region, the TPP is an attractive stepping stone towards the realization of the FTAAP. However, it is premature to say that this integration scheme will lead the process to FTAAP," the research says.

Details about APEC meetings including APEC Leaders' week in Honolulu in November can be found at www.apec.org. You can also follow us on Twitter and Facebook.



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Wider adoption of electric vehicles will reduce emissions, save energy and boost the competitiveness of automakers in the Asia-Pacific region, industry experts confirmed at a workshop on innovations in the industry.

Auto manufacturers, regulators and policymakers gathered this week in Hong Kong, China to discuss strategies and policy to improve technology and infrastructure necessary for the wide-spread adoption of electric vehicles.

Development of this industry will contribute to green growth in the region, a key priority for APEC in 2011. APEC Transportation and Energy Ministers last month designated low carbon transport as a key strategy for reducing the energy intensity of transport and green house gas emissions.

Ministers also urged APEC economies to promote the introduction of biofuels, natural gas vehicles, and electric drive vehicles, within a comprehensive framework that also includes measures to improve the efficiency of vehicles and traffic systems. 

"Member economies agree that more electric vehicles on the road will save energy and reduce carbon emissions," said Phyllis Yoshida, U.S. Department of Energy's Deputy Assistant Secretary for Asia, Europe and the Americas and Lead Shepherd for the APEC Energy Working Group. "The agenda also covers innovations in infrastructure and harmonizing of standards for critical technology components, which will help to facilitate the deployment and trade of the vehicles."

Hong Kong, China's Under Secretary for the Environment, Dr Poon Kit said the workshop underlines the strategic importance of the wider adoption of electric vehicles. 

"Wider use of electric vehicles can bring substantial environmental improvements," said Dr Poon. "It also helps promote the development of a green economy by unleashing the economic potential that is enfolded in the design, manufacture, marketing and servicing of this greener form of transport."

"However, no economy can do this alone; the promotion and development of electric vehicles requires the collective efforts and joint collaboration by members of the international community," she continued.

Hong Kong, China is taking a multi-pronged approach to promoting electric vehicles by providing financial incentives and infrastructure support. The goal is to improve roadside air quality and promote a green economy.

While acknowledging the damage to the supply chain as a result of the Japan earthquake and tsunami disaster, Japan's Kenji Miura, Deputy Director of the Automobile Division at the Ministry of the Economy, Trade and Industry said that many auto makers and component producers have resumed production ahead of schedule.

Korea Energy Management Corporation's transport manager, Kyung-Wan Rho, discussed concerns about limited natural resources because Korea imports 96 percent of its energy including petrol and diesel for vehicles, making the economy vulnerable to global prices and supplies. He also said that Korea has developed innovative policies to reduce its reliance on energy imports and reduce polluting emissions.

Common standards will improve the export of electric vehicles and their component parts for sale throughout the region. APEC is working to harmonize standards for manufacturing electric cars so that they can be more easily traded across borders.

"Standardization creates the building blocks to innovate today and tomorrow," confirmed Eric Simmon, the U.S. expert on vehicle-to-grid interoperability standards at the National Institute of Standards and Technology.




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Issued by the APEC Secretariat

APEC Leaders and Ministers will meet in Honolulu from November 8-13 to advance regional economic integration and free trade and investment in the Asia-Pacific.

Leaders from APEC's 21 member economies will gather on November 12-13 under the theme "Toward a Seamless Regional Economy" while Trade and Foreign Ministers will convene on November 11 to advance APEC's three priorities for  2011.

APEC Finance Ministers will also meet on November 10 to focus on policies to strengthen the global recovery and bring about strong, sustained and more balanced growth to boost job creation and income throughout the region.

For details of the meetings and press arrangements, please visit www.apec2011.gov.

The APEC CEO Summit will also be held from November 11-12, drawing business leaders from around the region. US President Barack Obama, who will host APEC Leaders, is expected to join Leaders and CEOs for discussions on issues impacting business.

For details of the summit and press arrangements, please visit www.apec2011ceosummit.com

Hosted by the United States this year, APEC is focused on achieving concrete outcomes in three specific areas: 
Strengthening regional economic integration and expanding trade; 
Promoting green growth; and 
Expanding regulatory cooperation and advancing regulatory convergence.

APEC is advancing its work on strengthening economic integration this year by working to define, shape, and address the next generation trade and investment issues that will lay the foundation for 21st century trade agreements in the region, including a Free Trade Area of the Asia-Pacific.

APEC is also taking steps to promote effective, non-discriminatory, and market-driven innovation policies. And APEC is continuing its work to make it cheaper, easier, and faster for businesses – particularly small and medium-sized businesses – to trade in the region, including by taking steps to reduce the time, cost, and uncertainty of moving goods and services through the supply chain.

On green growth, APEC is promoting trade and investment in environmental goods and services. APEC is also developing ways to combat trade in illegal forestry products, phase out inefficient fuel subsidies and encourage the adoption of low emissions development strategies.

In the area of regulatory convergence and cooperation, APEC is working on concrete actions to strengthen implementation of good regulatory practices, an APEC Regulatory Cooperation Plan as well as ways to prevent and eliminate technical barriers to trade related to emerging technologies.

# # #

For more information, contact: Michael Chapnick +65 6891 9670 at mc@apec.org or Trudy Harris + 65 6891 9671 at th@apec.org or Augustine Kwan +65 6891 9674 at ak@apec.org

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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"Solar Energy Panels" by Reynaldo C. Mondez from the Philippines (main photo - APEC Judges' Grand Prize and Popular Choice Award winner); "World-Wide" by Romeo B. Doneza from the Philippines (top right photo - APEC Judges' Second Prize winner); and "No-Boundary Network" by Wong Chi Keung from Hong Kong, China (bottom right photo - APEC Judges' Third Prize winner).

Three photographers with images that dramatically capture APEC's work in 2011 were announced today as the winners of the Pacific-wide APEC photo contest.

204 photos were submitted by 95 photographers from 17 APEC member economies to best reflect the 2011 priorities of strengthening regional economic integration, advancing regulatory cooperation and promoting green growth.

Out of the entries, Reynaldo C. Mondez from the Philippines stood out with his photo "Solar Energy Panels" and won the APEC Judges' Grand Prize.

The Judges' Second and Third Prizes went to Romeo B. Doneza also from the Philippines with his photo "World-Wide" and Wong Chi Keung from Hong Kong, China with his photo "No-Boundary Network."

To engage the community throughout the Asia-Pacific, the top ten photos were posted on the APEC Facebook page for comments and votes. More than 10,000 votes were cast during the two-week voting period – Mondez received over 4,600 "Likes" for his photo, also winning him the APEC Popular Choice Award.

"I am very happy and truly humbled by this experience," said Mondez, a retired photographer from the National Housing Authority of the Philippines. He currently runs a small wedding photography business with his son in Metro Manila.

"The photo is a symbol of hope for a sustainable future, even in the most remote parts of the Philippines," said Mondez. His winning photo of children playing basketball next to a hut and a solar energy panel was taken in a rural village in Rizal province.

"What I'm trying to convey to the world is to make renewable energy more accessible to everyone by first lowering the cost of the technology," he added. "Through my photo, I hope to reach out to the decision-makers who are involved in renewable energy."

APEC is currently working to reduce unnecessary trade and investment barriers to environmental goods and services, in an effort to lower costs and increase citizens' access to important green technologies. APEC is also developing energy-efficient policies to support a sustainable, low-carbon future that also reduces carbon emissions.

"Big steps have been taken this year to promote green growth in the Asia-Pacific," said U.S. APEC Senior Official, Ambassador Kurt Tong, who was a member of the judging panel. "We are addressing the concerns of APEC citizens at the grassroots level."

"The places and people captured by these photographers serve as reminders of the value of APEC's work in fostering greater cooperation and promoting sustainable growth in economies and among everyday citizens."

Also on the panel was Agence France-Presse's Photo Editor-in-Chief, Eric Baradat who was impressed by the many high-quality submissions. "The three winning images exude both creativity and conscious composition," said Baradat. "They capture the very essence of what APEC is doing."

The winning photographs of the APEC Photo Contest 2011 are available for viewing online.

# # #

For more information, contact:  Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick +1 (202) 262 8306 at mc@apec.org

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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Trade transaction costs across the Asia-Pacific region have fallen 5%, resulting in US$ 58.7 billion in total savings for businesses, research shows.

In a new report released, an independent research team has investigated whether APEC met its target of reducing trade transaction costs between 2007 and 2010, after implementing a comprehensive action plan to facilitate trade in the Asia-Pacific region.

The report reveals that although fees and charges for importers and exporters increased across the region between 2006 and 2010, the amount of time taken to clear goods across borders decreased, resulting in an overall drop of 5% in trade transaction costs and therefore cost savings for businesses.

"The reduction is good news for businesses and economies in the Asia-Pacific region. Given the uncertainty of the global economy, trade facilitation is now even more crucial to supporting sustainable economic growth," said Denis Hew, Director of the Policy Support Unit, the team responsible for the report.

"Reducing trade transaction costs boosts the profitability of businesses and helps create jobs. Introducing measures so that goods flow more easily at, across and behind borders also increases the competitiveness of markets and brings lower prices for consumers," Dr Hew said.

"As the volume and complexity of trade across the Asia-Pacific region grows, streamlining and simplifying import and export procedures so that goods and services are delivered more efficiently and cost effectively is paramount," he said.

The report, which can be downloaded from the APEC website, will be circulated to APEC Trade Ministers and senior officials for discussion in Honolulu this week.

The report shows that total fees and charges rose in real terms across the region by US$ 6.3 billion between 2006 and 2010 for importing and exporting all merchandise, an increase of 4.8%.

However the amount of total time taken to complete trade-related procedures dropped, which represents a decrease in costs of US$ 65 billion, or 6.2 percent from 2006. Thus, overall trade transaction costs resulted in total savings for businesses of US$ 58.7 billion.

The costs – the fees and charges plus the monetary value of the time spent getting goods to market - relate to document preparation, customs clearance and technical control, ports and terminal handling and inland transport and handling.

The researchers measured trade transaction costs in the region as part of their assessment of the success of APEC's Trade Facilitation Action Plan II (TFAP II). The assessment found that APEC had reached its target of reducing trade transaction costs by 5% between 2007 and 2010, a goal set by APEC Leaders in 2005.

Total trade transaction costs fell from US$ 1.187 trillion in 2006 to US$ 1.128 trillion in 2010.

Under TFAP II, APEC has been carrying out projects around the region to encourage economies to undertake reforms and improvements to streamline trade in four priority areas; customs procedures, standards and conformance, business mobility and electronic commerce (data privacy and paperless trading).

In their report, the researchers conclude that APEC has made "significant progress to improve trade facilitation and reduce trade transaction costs through the measures implemented under TFAP II."

Monica Contreras, chair of APEC's Committee on Trade and Investment, welcomed the findings, which showed APEC has successfully identified obstacles that hinder trade and implemented actions and measures to address them, thereby bringing real results to the business community.

"While we are enthusiastic about the progress made by APEC, we also recognize that there is more that can be done to improve trade facilitation across the region, therefore further efforts in this regard have been already deployed " Ms Contreras said.

TFAP II is one of many APEC initiatives aimed at increasing free trade and investment and strengthening regional economic integration to assist economic growth and prosperity for its people. TFAP II follows the first successful action plan, which worked to reduce costs also by 5% over four years to 2006.

The new report shows that by 2010, net savings were realized in most stages of the logistics chain across the APEC region. Substantial time savings were realized – the average time spent to prepare documentation for example was reduced by two days for both imports and exports.

However fees and charges rose strongly in real terms, particularly in ports and terminal handling.

On average it took 17 days and US$ 842 to complete an APEC export transaction for a single, standard container of goods in 2006. In 2010, it took 15 days and US$ 856. Previously in 2006, it took 17 days and US$ 941 to complete such an APEC import transaction; in 2010 it took 15 days and US$ 923.

For the main report, go to:

"APEC's Achievements in Trade Facilitation 2007-2010" 
"Final Assessment of Second Trade Facilitation Action Plan (TFAP II)"
http://publications.apec.org/publication-detail.php?pub_id=1211

For detailed measurements of trade transaction costs, including figures for each economy, go to:

"Aggregate Measurement of Trade Transaction Costs in APEC 2007-2010"
http://publications.apec.org/publication-detail.php?pub_id=1212

For assessment of APEC's progress in the four priority areas, go to:

"Trade Facilitation through Customs Procedures: Assessment of APEC's Progress" 
http://publications.apec.org/publication-detail.php?pub_id=1213

"Reducing Business Travel Costs: The Success of APEC's Business Mobility Initiatives"
http://publications.apec.org/publication-detail.php?pub_id=1214

"Facilitating Electronic Commerce in APEC: A Case Study of Electronic Certificate of Origin"
http://publications.apec.org/publication-detail.php?pub_id=1215

"Reducing Trade Transaction Costs: Harmonization of Standards and Conformity Assessments in APEC"
http://publications.apec.org/publication-detail.php?pub_id=1207

# # #

For more information, contact:  Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick +1 (202) 262 8306 at mc@apec.org or Trudy Harris +65 98983710 at th@apec.org.

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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By Ambassador Muhamad Noor

With the global economy still mired in uncertainty, reform of trade regulations is crucial. Although stimulus packages, interest rate cuts and resistance to protectionism has had some impact since the global financial crisis, growth remains sluggish in many, particularly developed, economies.

Stepping up regulatory reform across the Asia-Pacific region will add to efforts to build a sustainable economic recovery. Overhauling rules and procedures so that goods, services and investment transfer more efficiently across borders, will help boost returns for exporters, grow businesses and generate jobs.

Asia-Pacific Economic Cooperation (APEC) Leaders and Ministers gathering in Honolulu this week will seek updates from officials on progress in this vital area. With success in recent years on removing tariff and other "at-the-border" barriers to trade, APEC has turned to tackling these numerous and more difficult "behind-the-border" barriers in the Asia-Pacific.

In particular, APEC, chaired by the United States this year, has made advancing regulatory cooperation and convergence in the region a priority, as part of its efforts to further increase trade and deepen economic integration.

For businesses to make inroads into new markets, economies need to better align their standards, rules and regulations on everything from food to emerging technologies. A business trying to sell a food product across the region, for example, could face many different labelling standards for the same product. Each standard might require a different label to be printed and affixed.

While standards are important for consumer health and safety, meeting such varied requirements is a drag on costs, impedes more efficient methods of production and ultimately pushes up prices for consumers.

Regulations also need to be strengthened so that they are more transparent, meet international obligations and are less burdensome for businesses, especially small and medium ones, trying to navigate them.

To improve the quality of rules, APEC economies should and are increasingly adopting good regulatory practices, including in areas such as internal coordination of rule-making activity across government departments and agencies, impact assessments of regulations (including on trade) and public consultation.

Adopting such practices will strengthen trust of and confidence in markets, necessary for trade and investment.

The growing complexity of globalization and modern supply chains makes these reforms all the more imperative. Many goods are no longer made in one economy but produced by sourcing components, services and intellectual property across the region. 

APEC is building awareness of the need for reforms as well as the capacity of its members to undertake them. APEC encourages reform through open dialogue and cooperation on multiple levels (from Leaders to ministers, senior officials and working groups) and through partnership with the private sector.

It also sets targets and takes concrete steps to reach them. A good example is the Ease of Doing Business Action Plan. APEC has endorsed a 25 percent improvement region-wide by 2015 in five key areas of doing business; starting a business; getting credit; enforcing contracts; trading across borders; and dealing with permits.

An interim target of a five percent improvement has been set for the end of this year. To help achieve this, APEC has carried out projects to transfer skills, knowledge, technical expertise and best practice between officials on these priority areas.

Economies right across the region have reported successes since this initiative was introduced and APEC is well on target to meet the deadline.

Still more work, however, needs to be done. A survey this year of more than 4000 business and opinion leaders by the Pacific Economic Cooperation Council cited regulatory impediments in overseas markets as the biggest challenge to doing business in the region, along with corruption.

APEC Trade Ministers have instructed officials to identify concrete actions, by the time they meet in Honolulu, that economies can take to further strengthen implementation of good regulatory practices.

APEC is also developing a cooperation plan so that its myriad of initiatives to spur reform continues to be efficient and effective. Reducing regulatory barriers to trade and investment will help build sustainable economic growth in the Asia-Pacific region and prosperity for its people.

Ambassador Noor is the APEC Secretariat Executive Director.

This article appeared in the Honolulu Star Advertiser on November 09.



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APEC is hosting a workshop in Viet Nam on enhancing access to financial services, including for women entrepreneurs, as part of efforts to boost incomes and sustainable economic growth in the Asia-Pacific region.

The workshop aims to promote government policies and regulations in the region that develop commercially sustainable microfinance, which is key to helping micro, small and medium sized enterprises develop their businesses and increase economic development.

The April 7-8 workshop in Hanoi brings together policymakers and microfinance practitioners to share best practices and build capacity among APEC member economies, particularly developing economies, in this vital area.

"In many APEC economies the percentage of the adult population with access to adequate financial services such as credit and bank accounts is still very low," said Eduardo Jimenez, from the Alliance for Financial Inclusion, and one of the speakers at the workshop.

"Increasing financial inclusion is crucial for disadvantaged groups, the poor and those in remote and rural areas to improve their businesses, their incomes and their lives," Mr Jimenez said.

"Some of APEC's developing member economies have pioneered many of the most innovative solutions to increasing financial inclusion, but much more work needs to be done."

Some 2.7 billion adults are "unbanked," according to the World Bank. That means they do not have the opportunity to save, get loans, manage their finances and grow their businesses through formal or secure financial services.

The Hanoi workshop covers harnessing new technologies to increase access to financial services, particularly mobile banking, diversifying financial products and services, risk management and consumer protection in microfinance and gender equity.

The workshop is part of a multi-year APEC program that aims to showcase best practices in microfinance in the region. APEC recently completed a case study on Viet Nam with the aim of providing recommendations to policymakers in promoting sustainable, market-based microfinance. The case study will also inform other economies in the region on the key issues for commercially sustainable microfinance.

As part of this program, APEC has also produced a list of best practices specifically relating to women-owned micro-enterprises. Women face numerous and unique challenges, such as gender discrimination, as they try to enhance their businesses and would benefit from greater access to financial services and markets.

The list of 23 practices, including possible affirmative action policies for women, such as special financial funding services and dedicated lines of credit, aims to guide government policymakers in APEC member economies in determining support to women's micro-enterprises.

The program is just one of the APEC initiatives aimed at improving financial inclusion in the region. APEC, the US Treasury and the San Francisco Federal Reserve Bank organised a seminar in February in San Francisco that gathered financial policy makers and other experts to further work in this area.



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Issued by APEC Business Advisory Council

ABAC urges Trade Ministers to establish a Free Trade Area of the Asia-Pacific, conclude WTO Doha Development Agenda

Business leaders representing the 21 economies of the Asia-Pacific Economic Cooperation (APEC) today announced their recommendations on priorities for APEC's trade and investment agenda.

These recommendations will be formally submitted to APEC Trade Ministers and Small and Medium Enterprise Ministers ahead of their meetings to be held from 19 - 21 May in Big Sky, Montana.

ABAC identified and will provide recommendations to Ministers on addressing what it sees as the top four barriers to cross-border trade for SMEs: 1) access to finance, 2) lack of capacity to internationalize, 3) the need for transparency and open business environments and 4) inability to protect intellectual property rights.

"Taking APEC as a whole, SMEs make up roughly 90 percent of all businesses and employ nearly 60 percent of the work force, but they only account for around 30 percent of exports. It is critical that APEC SME Ministers take strong action to help these companies to increase their reach across borders," said Deb Henretta, APEC Business Advisory Council Chair and Group President, Asia, Procter & Gamble.

 ABAC will also call on Ministers to address the slow recovery of Foreign Direct Investment (FDI) in the region, noting that particular attention should be focused on actions aimed at accelerating the growth of FDI. Such actions include improving the predictability, transparency and efficiency of the legal and regulatory environment for investment and providing effective mechanisms for expedited approval processes and the resolution of disputes.

ABAC will urge APEC Ministers Responsible for Trade to take concrete steps towards greater regional economic integration through the establishment of a Free Trade Area of the Asia-Pacific (FTAAP).

ABAC will recommend that a key objective of steps towards FTAAP should be to enhance the operation of integrated supply and value chains which reflect the way business is now increasingly being done in the region. As an incubator for ideas, APEC has a key role to play in identifying blockages and overcoming barriers and impediments which would enhance competitiveness, make business more profitable, help companies better manage inventories and lower costs for consumers.

The ABAC met in Seoul this week just after Pascal Lamy, Director-General of the World Trade Organization, warned that, despite progress on global trade negotiations, the differences in Non-Agricultural Market Access are effectively blocking further progress and putting into serious doubt the conclusion of the round this year.

Concerned about the failure of the Doha Development Round, ABAC pressed APEC to make stronger efforts to bridge the gaps identified in the current stocktaking, and to give negotiators the flexibility to deliver an ambitious and commercially meaningful outcome.

About ABAC

The APEC Business Advisory Council (ABAC) was created by the APEC Economic Leaders in November 1995 to provide advice on the implementation of the Osaka Action Agenda and on other specific business sector priorities, and to respond when the various APEC fora request information about business-related issues or to provide the business perspective on specific areas of cooperation.

For more information, please contact:

Mr. Alex Parle, ABAC Executive Director 2011, Tel: (1 206) 441 9022, Email: aparle@ncapec.org

Mr. Antonio Basilio, ABAC Secretariat, Tel: (63 2) 845 4564, Email: abacsec@pfgc.ph



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Japan has donated an additional JPY 52.3 million (approximately US$ 640,000) to bolster APEC's capacity building work and help promote economic growth throughout the Asia-Pacific region.

Japan's contribution is for future APEC projects that focus on building the skills, knowledge and overall capacity of developing member economies to benefit from international trade and increase economic development and growth.

APEC Secretariat Executive Director, Ambassador Muhamad Noor, thanked Japan for its ongoing support for APEC, saying the donation would enhance APEC's agenda of providing training and cooperation to advance economic development in the region.

"I thank Japan for the generous contributions that are critical for APEC to implement APEC Leaders' priorities," Ambassador Noor said.

"The donation is a reflection of Japan's continued commitment to international cooperation despite the recent devastating earthquake and tsunami."

The APEC Secretariat and Japan signed a memorandum of understanding on May 2 for the contribution of JPY 30 million and JPY 22.3 million to the APEC Support Fund (ASF). The first tranche was received in March and the remaining amount in April.

The donation comes ahead of a meeting this month of APEC Senior Officials in Big Sky, Montana and a meeting of APEC Trade Ministers as well as Small and Medium Enterprise Ministers.

The contribution is Japan's latest to the ASF, after committing JPY 360 million, (then approximately US$ 3.9 million) last June to promote energy efficiency activities and low-carbon measures in APEC. That MOU between Japan and the Secretariat was signed on the margins of the meeting of Energy Ministers in Fukui, Japan.

The ASF was set up in 2004 to specifically focus on projects for developing economies in APEC. Voluntary contributions can be made by member economies and private donors. The fund complements two other APEC accounts that also fund projects in the region.

In total, 146 APEC projects are currently in train to a value of around USD 13 million. Many are based on traditional trade-related areas such as improving customs procedures, supply chain connectivity and foreign investment. Others are focused more on building a positive trade environment, such as emergency preparedness and human resource development.

Although APEC projects cover many areas, there is consistent focus on transferring knowledge and skills between members to build capacity. Members can then use this information and expertise to liberalise, facilitate and increase trade and boost economic growth.



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Trade officials, regulators and industry experts from APEC economies gathered for a two-day dialogue to discuss the challenges and opportunities of domestic smart grid initiatives and how to facilitate trade and investment related to this emerging technology.

The aim of the dialogue was to broaden the understanding of the relationship between smart grid interoperability standards and trade and investment flows in the Asia-Pacific region.

APEC recognizes smart grid development as a way to address climate change and improve energy efficiency. It also promotes green growth, which is a key priority for APEC during the 2011 U.S. host year.

Dr. Wilbert Charlton Adams, Jr., past president of the Institute of Electrical and Electronics Engineers Standards Association, told participants at the dialogue that smart grid not only has "revolutionary benefits" for the environment, but also has "a potential USD 30 trillion dollar global business opportunity over the next two decades."

Another study predicted that the potential market for smart grid products would be more than USD 170 billion in 2014. APEC economies are already investing billions in the development of smart grid infrastructure and technologies. At the dialogue, participants agreed that early cooperation on interoperability standards will help prevent technical barriers to trade from emerging.

Interoperability – or the ability of a system or a product to work seamlessly with other systems or products – is a major technical challenge facing smart grid deployment, and greater standardization is the key to addressing this.

"The widespread benefit [of smart grid] can only be realized through interoperability, achieved through successful standards cooperation," said Dr. Adams. "Attaining global smart grid interoperability will be a cornerstone of future global economic development."

Smart grid interoperability standards will have a direct impact on trade, affecting many APEC economies. Addressing unnecessary technical barriers to trade and investment related to smart grid technologies is therefore the goal of the APEC Regulatory Cooperation Advancement Mechanism – an initiative of the APEC Committee on Trade and Investment to advance regulatory cooperation on emerging regulatory issues.

"Standards are the glue that will hold the smart grid together – ensuring all the components are interoperable," said Mr. Ken Kozlik, Chief Operating Officer of Ontario, Canada's Independent Electricity System Operator, who also spoke at the dialogue. "The adoption and application of standards can promote trade opportunities, or create barriers if they are ignored," he added.

The APEC Committee on Trade and Investment and other APEC working groups have been meeting in Big Sky, Montana to advance their work to strengthen regional economic integration and promote trade. APEC Ministers Responsible for Trade and Small and Medium-size Enterprises are also meeting in Big Sky to discuss the progress on the year's priorities.



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Senior officials from the 21 member economies of the Asia-Pacific Economic Cooperation forum met at the mountain resort of Big Sky, Montana to seek deeper regional economic integration, promote sustainable growth, and facilitate job creation. The officials convened for the second time this year to continue deliberations on how best to achieve concrete results through the APEC process.

U.S. Deputy National Security Advisor for International Economic Affairs Michael Froman, who chaired the meeting, thanked officials from the region for all their hard work and was optimistic on the prospects of completing ambitious initiatives by the time President Obama hosts the APEC Leaders in Honolulu in November.

APEC representatives considered ways to build toward a seamless regional economy by advancing three priorities in 2011: strengthening regional economic integration and expanding trade and investment; encouraging green growth; and advancing regulatory cooperation and convergence in order to reduce the barriers that businesses—especially smaller companies—face in the region. To this end, they discussed ways to enhance public-private cooperation, leverage clean technologies, and make it easier, faster, and cheaper to conduct business in the region.

APEC officials agreed to address next generation trade and investment issues this year, including facilitating global supply chains, enhancing SMEs' participation in production chains, and promoting effective, non-discriminatory, and market-driven innovation policy. APEC's work in these areas will make an important contribution to strengthening regional integration and expanding trade—and will move economies in the region closer to achievement of a free trade area of the Asia-Pacific (FTAAP), a next generation trade agreement.

Senior officials discussed how APEC can make progress to address trade and investment in environmental goods, technology and services, which create unnecessary obstacles in a sector which is critical to APEC's green growth objectives. APEC also agreed to advance work related to illegal logging and associated trade.

Public-private cooperation is a traditional strength of APEC and APEC officials discussed ways to further enhance the role of the private sector in APEC discussions. As one step, they endorsed a proposal for a Policy Partnership on Women and the Economy, which will help elevate the profile of women's issues in the region. Senior Officials also were united on the need for effective action in light of recent natural disasters in the region, and considered steps, including through public-private cooperation, that APEC can take to help strengthen emergency preparedness.

APEC senior officials also made strides toward development of a robust work plan on fossil fuel subsidy reform. APEC's work in this area will focus on technical assistance and capacity building with a particular emphasis on employing best practices for phasing out subsidies while providing essential energy services to vulnerable populations. APEC senior officials also welcomed efforts to explore the use of low-carbon development strategies as an essential component of sustainable growth in the Asia-Pacific region, noting that some APEC economies have shown leadership in this area by developing integrated environmental and economic growth plans.

APEC officials also advanced work on structural reform, a key element of APEC's strategy to promote higher quality growth in the Asia-Pacific region that is strong, balanced, inclusive and sustainable. Under APEC's New Strategy for Structural Reform—endorsed by leaders last year in Yokohama—each APEC member economy is working to identify its priority areas for structural reform before leaders meet again in Hawaii in November.

The APEC Senior Officials met just prior to the APEC Ministers Responsible for Trade and Small and Medium Enterprise Ministers, who are to convene from May 19-21 here and will focus on APEC's 2011 agenda to further advance free and open trade in the region.

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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Issued by APEC Senior Officials' Meeting

APEC officials and private sector leaders met to discuss how economies can work together to ensure food security in the region in light of growing populations, insufficient gains in agricultural productivity, and limited natural resources, particularly water.

Participants in a special APEC High-Level Dialogue on Food Security on May 18th, convened by U.S. Deputy National Security Advisor for International Economic Affairs Michael Froman, emphasized the importance of avoiding policies and practices that encourage speculation and contribute to increased price volatility by preventing markets from performing their price-finding role, such as restricting exports, hoarding or stockpiling food, and unduly subsidizing production.

Participants noted that APEC economies must work together to encourage information sharing on market conditions. Food security depends, in part, on farmers receiving the right market-based price signals to drive production and investment decisions.

"Open and transparent trade plays a critical role in ensuring global food security," said Ambassador Kurt Tong, APEC Senior Official for the United States. "It is critical that we adopt policies in the Asia-Pacific region that let global market signals work."

Ambassador Tong also emphasized the critical role that the private sector can play in addressing this issue.

Participants also conducted a detailed discussion regarding steps that APEC might take, including capacity building, training and public-private partnerships to mitigate post-harvest losses.

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.

# # #

For more information, contact: Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick +1 (202) 664 6245 at mc@apec.org



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"Growing renewable energy industries, such as wind, solar and biofuels, are a critical part of catalyzing clean economic growth," said US Commerce Secretary Gary Locke on Wednesday in Big Sky, Montana.

Locke made his remarks at the Enhancing Competitiveness through Green Growth Forum. The meeting was organized by the APEC Small and Medium Enterprises Working Group.

Locke said that over the next few decades, world economies will need to rebuild and reinvent virtually every industrial activity – from power generation and transportation to manufacturing and construction – to succeed in an energy environment that looks drastically different than the one we've grown used to.

"The potential new business and new job creation in front of us is astounding," said Locke.

Locke characterized the issue with an example of one of the challenges facing the United States. In the United States, buildings consume 40 percent of energy and 73 percent of electricity. They are responsible for about 39 percent of carbon emissions – more than the transportation or industrial sectors.

But he also expressed optimism. "It's no surprise then that greening these buildings can create immense economic opportunity, with the overall green building market projected to reach as much as $140 billion worldwide by 2013."

"A big part of the answer lies with the small and medium-sized enterprises," he continued. "This is why APEC member economies need to put the empowerment of small businesses at the very center of our economic agendas."

"I don't think there's any question that APEC member economies greatly value the power of thriving small businesses -- especially when it comes to spurring clean growth.

But small companies continue to face hurdles in the APEC region. The International Trade Commission and the Organization for Economic Cooperation and Development identified excessive transportation costs and customs clearance delays; difficulty protecting intellectual property and preferential tariff rates; and lack of access to financing and information as the main culprits to growth.

Locke urged APEC member economies to pursue policies that unleash innovation and enable entrepreneurs.

"The job of APEC policymakers is to help create an environment that supports the risk-taking and innovation that will be so important to promoting clean growth in the years to come," said Locke.

He also said that policies need to be developed to give entrepreneurs the tools to succeed no matter where they live.

APEC Senior Officials from APEC's 21 member economies concluded their meeting today. APEC Trade Ministers and Small and Medium Enterprise Ministers are to convene from May 19-21 here and will focus on APEC's 2011 agenda to further advance free and open trade in the region.

# # #

For more information, contact: Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick +1 (202) 664 6245 at mc@apec.org



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Issued by the APEC Sub-Committee on Standards and Conformance's Food Safety Cooperation Forum

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APEC and the World Bank today signed a memorandum of understanding to strengthen collaboration on food safety in the Asia-Pacific region, which accounts for over 40 percent of the world's population and nearly half of global food production.

The APEC Sub-Committee on Standards and Conformance's Food Safety Cooperation Forum and the World Bank will work together closely on training programs to improve food safety standards and practices in the region, as well as to facilitate trade.

The programs will enable more growers, producers and food safety officials to understand and utilise preventative controls – resulting in safer food for consumers and fewer safety incidents in food trade.

"Food trade is increasingly becoming a global issue with complex and inter-related supply chains, which raises the need to address the question of food safety," said APEC Secretariat Executive Director, Ambassador Muhamad Noor.

Ambassador Noor added that global and regional cooperation on building the capacity of regulatory systems is key to reducing food incidents and boosting trust in trade. This enhances domestic commerce and export markets.

"More widespread movement of food and livestock around the world requires vigilance on food safety and disease risk," said Inger Andersen, World Bank Vice President for Sustainable Development. "More exacting standards pose challenges to poor farmers competing in these growing markets."

Signing the MOU with APEC today, Andersen said, "Food safety is an increasingly significant part of the World Bank's lending and technical assistance programs in East Asia and the Pacific, as well as in other regions. We are extremely pleased to be working with APEC to bring more attention to this critical issue.

This new agreement will strengthen our joint efforts to mobilize resources and promote and support capacity building to better ensure food safety concerns," she said.

Ms Andersen and the co-chairs of the APEC Food Safety Cooperation Forum, Steve McCutcheon from Australia and Lin Wei from China, signed the MOU in the margins of a series of APEC meetings currently underway in Big Sky, Montana.

"The MOU opens the way for an upscaling of food safety capacity building in the region," said McCutcheon and Lin in a joint statement.

APEC Trade Ministers and Small and Medium Enterprise Ministers meet from May 19-21 in Big Sky, focusing on APEC's 2011 agenda to further advance free and open trade in the region.

The APEC Food Safety Cooperation Forum was established to bring together food safety regulators to develop a food safety framework and strategy and to carry out capacity building programs in this important area.

The memorandum of understanding is part of APEC's agenda to strengthen food security in the diverse region, home to about one quarter of the world's undernourished people. The region also accounts for half of world grain production and includes major exporters and importers of agricultural products.

APEC held its first APEC Ministerial Meeting on Food Security last October in Niigata, Japan, and committed to focus on raising agricultural productivity, facilitating trade and investment and expanding markets.

Photographs of the MOU signing can be viewed here.

# # #

For more information, contact:  Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick +1 (202) 664 6245 at mc@apec.org



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A first-ever joint statement by APEC Ministers Responsible for Trade and Small and Medium Enterprises (SMEs) was issued today.

At the Big Sky meeting, APEC Ministers addressed:

The importance of SMEs to APEC economies

Top barriers to SMEs trading in the region, including lack of access to financing, lack of capacity to internationalize and the need for open and transparent business environments.

Actions to address top barriers to SMEs trading in the region

The 2011 Joint Meeting of APEC Ministers Responsible for Trade and Ministers Responsible for Small and Medium Enterprises can be accessed at: 
http://www.apec.org/Meeting-Papers/Ministerial-Statements/Trade/2011_joint_tradeSME.aspx 

# # #

For more information, contact: Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick +1 (202) 664 6245 at mc@apec.org

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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Committed to increasing trade and opening markets in the Asia-Pacific, trade ministers explored productive steps APEC can take to sustain the overall strength of the multilateral trading system and address the path forward.

To support economic growth and job creation in the region, APEC Ministers Responsible for Trade met here today to focus on strengthening regional economic integration; promoting green growth; and advancing regulatory convergence and cooperation – the three priorities for APEC which is being hosted by the United States this year.

US Trade Representative, Ambassador Ron Kirk, said the discussion would contribute to achieving concrete results in these areas, which are key to strengthening economic growth and development in the Asia-Pacific.

"Whether they are manufacturers, ranchers, or farmers, many benefit from the outcomes APEC generates and it is vital that we keep that in mind today and tomorrow to ensure that we provide the necessary direction to APEC officials so by November when APEC Leaders meet, we have a set of strong outcomes that will move us towards the goal of a seamless regional economy," said Ambassador Kirk who chaired the meeting.

The Doha Round was a topic of discussion. Ministers acknowledged the challenges facing the current round of world trade negotiations.

"In my view, without abandoning our commitment to the success of the Round, we need to begin a hard-nosed discussion of what can be done. We need to explore what 'next steps' we can take to find a more productive path – and, if we find that path, to take it as quickly as possible," Ambassador Kirk explained.

"Wherever we go next, I think it's critical to emphasize one point – the WTO is strong, as it has shown itself to be in the past three years. We have confidence in it."

World Trade Organization Director-General, Pascal Lamy, also briefed Ministers this morning on the status of the Doha Round and discussed possible next steps.

"I will be holding a Trade Negotiating Committee (TNC) meeting on 31 May to take stock of my consultations and chart a path forward," said Lamy. "There is little time available and this is why I believe we should use the TNC on 31 May to move the discussions from process into substance."

"The signals from this meeting and from the upcoming Ministerial meeting hosted by Australia in the margins of the OECD are key inputs into that process," he concluded.

APEC Trade Ministers are expected to release a statement at the end of their meeting on May 20, followed by a press conference. They will also meet jointly with Small and Medium Enterprise Ministers in the afternoon. SME Ministers will convene on May 21 to address barriers and challenges that are facing companies from throughout the region take advantage of global trade.

Separately, APEC Senior Officials from APEC's 21 member economies have concluded their meeting on the issues and work to be undertaken to address the three priorities for this year

# # #

For more information, contact: Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick +1 (202) 664 6245 at mc@apec.org

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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APEC Ministers responsible for the region's small and medium enterprises (SMEs) considered policies and initiatives to foster greener, more innovative and competitive small businesses.

Recognizing the importance of SMEs and entrepreneurs to the development of the Asia-Pacific region, APEC Ministers are determined to:

Embrace business ethics to enhance SMEs' competitiveness

Promote SMEs' use of new technologies to reduce the costs of doing business; and

Identify policies to support green SMEs

The joint statement of the 2011 APEC Small and Medium Enterprises Ministerial Meeting can be accessed at: http://www.apec.org/Meeting-Papers/Ministerial-Statements/Small-and-Medium-Enterprise/2011_sme.aspx

# # #

For more information, contact: Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick +65 9647 4847 at mc@apec.org

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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APEC Ministers Responsible for Trade endorsed two statements at the close of the two-day meeting in Big Sky, Montana.

The 2011 Meeting of APEC Ministers Responsible for Trade, Statement of the Chair. It covers:

Strengthening Regional Economic Integration and Expanding Trade

Promoting Green Growth

Advancing Regulatory Convergence and Cooperation

Strengthening Economic and Technical Cooperation

It can be accessed at: https://www.apec.org/en/Meeting-Papers/Ministerial-Statements/Trade/2011_trade.aspx

The Statement on the WTO Doha Development Agenda Negotiations and Resisting Protectionism can be accessed at: https://www.apec.org/en/Meeting-Papers/Ministerial-Statements/Trade/2011_trade/2011_mrt_standalone.aspx

# # #

For more information, contact: Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick +1 (202) 664 6245 at mc@apec.org



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Strengthening energy security, including improving energy efficiency and development of cleaner energy supplies, is crucial to economic prosperity in the Asia-Pacific, APEC Secretariat Executive Director Muhamad Noor said today.

Ambassador Noor said energy security has long been an important issue for APEC and the region, but recent events including a spike in global oil prices and the Japan earthquake and tsunami emphasised the need for ongoing work and cooperation. 

"These events have highlighted how critical the issues of energy security are to economic prosperity and sustainability in the Asia-Pacific region," he told a high-level panel on energy security at the UN-ESCAP's 67th session underway in Bangkok.

APEC member economies together account for 60 percent of the global energy demand and include the world's four largest energy consumers. Global energy demand will increase by 36 percent between 2008 and 2035, according to the International Energy Agency, to meet the needs of an increasing population and economic growth.

"The solutions to these challenges are not simple or easy. But APEC is committed to tackling them," he said.

Ambassador Noor pointed to the extensive and ongoing work of APEC's Energy Working Group, including its capacity building activities, particularly in developing economies, which focus on sharing knowledge, expertise and technical skills on strengthening energy security.

These activities include promoting energy efficient policies and development of renewable energy technologies in the region, both of which will boost energy security, grow economies and lower greenhouse gas emissions that scientists say cause climate change.

One activity currently under way is the APEC Low-Carbon Model Town Project on the outskirts of Tianjin in northeastern China. The town is being transformed using low-carbon and energy efficient technologies including smart buildings, transport and grids.

Ambassador Noor's comments at the dialogue follow a commitment from APEC Ministers Responsible for Trade on the weekend to explore new ways to promote greater liberalization of trade in environmental goods and services by the end of the year.

Meeting in Big Sky, Montana, Ministers also discussed ways to advance trade in green vehicles and technologies. They agreed to find ways to streamline procedures and regulations on importing advanced and alternative-fueled demonstration vehicles.

Trade Ministers also instructed officials to develop a work plan to advance APEC's commitment to phase-out inefficient fossil fuel subsidies, including through capacity building activities in the region and a voluntary reporting mechanism.

The full speech can be found here.

# # #

For more information, contact Trudy Harrris +65 9898 3710 at th@apec.org or Michael Chapnick +65 9647 4847 at mc@apec.org

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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Issued by the APEC Small and Medium Enterprises Working Group

APEC has adopted a first-ever code of ethics for the region's medical devices industry.

The principles will improve the quality of patient care, encourage innovation, and promote the growth of SMEs that produce medical devices.

The Kuala Lumpur (KL) Principles for Medical Device Sector Codes of Business Ethics were endorsed by APEC SME Ministers at their 2011 Ministerial Meeting, in Big Sky, Montana.

"Once implemented, the KL Principles will help APEC member economies develop codes of ethics for their respective medical devices sectors," said Michael Camuñez, Assistant Secretary of Commerce for Market Access and Compliance.

"The codes will help eliminate corruption, one of the most insidious trade barriers facing SMEs throughout the APEC region," he added.

The KL Principles can be downloaded on the APEC website here.

APEC member economies developed the principles in response to last year's call by APEC's SME Ministers to assist members in improving the often fragmented and complex business ethics rules and practices that exist across the region.

"Ethical practices ensure health care decisions are based on the best interests of patients and promote patient access to life-saving medical technologies," Camuñez said.

"This is done by providing companies with clear parameters to guide conduct, as detailed in the five basic tenets of the KL Principles: integrity, independence, appropriateness, transparency and advancement."

Medical devices industry representatives note that unethical behaviour substantially increases the costs of doing business through the payment of penalties. Corruption lowers sales growth and productivity, inhibits the ability to enter new markets, and constricts access to capital. The World Bank estimates that corruption costs the world's private sector about US $1 trillion dollars annually.

Saving money by tackling corruption also boosts innovation by freeing up resources for research and development investments. Ultimately, both SMEs and patients benefit from better-designed and better-built medical devices.

"Innovation in this sector is not an accident. Investment in research and development represents 12 percent of the sector's revenue—four times the manufacturer average," Camuñez said. "With more resources freed up to invest in R&D and innovation, the sector will benefit from even greater growth."

The resulting growth of SMEs is essential to APEC economies, where SMEs account for over 90 percent of all businesses and employ as much as 60 percent of the region's workforce.

"The code of ethics is expected serve as a model for other industries," said Camuñez.

The APEC SME Working Group agreed to develop principles for the region's construction and bio-pharmaceutical sectors.

The APEC SME Ministerial is held annually by the APEC host economy to encourage the development of small and medium enterprises and to build their capacity to engage in international trade.

# # #

For more information, contact:  Augustine Kwan +65 9831 0717 at ak@apec.org or Michael Chapnick +65 9647 4847 at mc@apec.org

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.



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Issued by APEC Energy Working Group

APEC officials and energy experts are meeting here this week to enhance development of low-carbon towns in the Asia-Pacific region, a key APEC initiative aimed at reducing carbon emissions and increasing sustainable economic growth.

APEC is holding the June 21-23 forum in Tianjin to share knowledge and experience on planning policies and measures for low-carbon towns, including by showcasing a model town currently under development on the outskirts of the city in north-eastern China.

The town is part of a multi-year APEC project to assist central and local government officials in identifying effective low-carbon policies for their economies. The town is to include measures such as using solar and wind energy to light buildings and public streets, treatment and reuse of waste water, increasing urban greenery, recycling and increased public transport.

Dr. Phyllis Yoshida, Lead Shepherd of the APEC Energy Working Group, said the project, once fully developed, will start "providing important data and best practices on how APEC's urban areas are meeting the global low carbon challenge."

"The project offers an important holistic view of how various renewable energy, energy efficiency and urban planning policies and tools can be used together to move APEC towards a low-carbon sustainable future," said Dr Yoshida, a Deputy Assistant Secretary at the U.S. Department of Energy.

The forum will gather energy, environmental and climate change experts from academia, the private sector, the World Bank Group and the Asian Development Bank for discussions on current initiatives, issues and forward-looking strategies. Government policy makers from throughout the APEC region are also expected to brief on low-carbon developments in their economies.

Green growth is one of APEC's priorities this year. The forum is part of APEC's wider efforts to strengthen energy security and sustainable growth in the region, including through promoting renewable energy supplies and energy efficiency, reducing carbon emissions and reducing barriers to trade in environmental goods and services.

APEC member economies together account for 60 percent of global energy demand. Energy consumption has increased dramatically in recent years in the region, as a result of increased economic development and urbanization, making reduction of greenhouse gases, which scientists say cause climate change, an important challenge.

Consumption was about 6.8 billion toe (tonnes of oil equivalent) in 2008, according to APEC energy statistics1, a 26.2 percent increase compared to consumption levels in 2000. Consumption in China more than doubled from 2000 to 2008, while Indonesia, Malaysia, New Zealand, the Philippines and Chinese Taipei also recorded significant increases.

# # #

For more information, contact: Augustine Kwan + 65 9831 0717 at ak@apec.org or Michael Chapnick on +65 6891 9670 at mc@apec.org.

Details about APEC meetings, events, projects and publications can be found at www.apec.org or www.apec2011.gov. You can also follow APEC on Twitter and join us on Facebook.


1 The APEC Energy Data Expert Group produces annual energy statistics through the energy data base, managed by the Institute of Energy Economics, Japan.



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The U.S. Treasury, as 2011 host of APEC's Finance Ministers' Process, and the World Bank Group have joined forces to strengthen successful financial planning of infrastructure projects, which is crucial for achieving the goal of a seamless regional economy and rebalancing the sources of economic growth in the Asia-Pacific region.

A conference was held this week at World Bank headquarters in Washington D.C. for policy makers from economies in the region on "The Framework and Options for Public and Private Financing of Infrastructure. The conference was co-sponsored by APEC and the United States Agency for International Development.

The two-day gathering included presentations and panel discussions by senior experts from APEC economies on both sides of the Pacific, private sector asset managers, academics, and experts of the multilateral development banks and the IMF.

Charles Collyns, Assistant Secretary for International Finance at the US Treasury, said the workshop provided economies with the opportunity to learn and share experiences about the issues they confront in planning infrastructure projects and seeking to engage the private sector.

"As all of us here today know all too well, infrastructure does not come cheap," said Assistant Secretary Charles Collyns. "Building the roads, bridges, power plants, and rails that will drive growth in this region over the next decade will require trillions of dollars in new investment, including from the private sector.

"Today's discussion will encourage mutual learning about the challenges of infrastructure financing, including how APEC economies can tap into increasingly large sources of long-term capital, and help us to find solutions that are applicable to the unique conditions of each country."

World Bank Managing Director Sri Mulyani Indrawati addressed the June 22-23 workshop, held at the World Bank headquarters, on "Building Solid Governance Foundations for infrastructure".

"In an environment of constrained fiscal space, most APEC economies face challenges to efficiently mobilize public investments in infrastructure," said Mulyani. "There is also a huge potential of public-private partnerships in developing infrastructure in the APEC region, which needs to be fulfilled."

"Through this conference, the Bank has been pleased to partner with the U.S. Treasury and APEC to contribute to supporting these economies' efforts to make public investment programs more effective and launch public-private partnership schemes that work."

Accelerating investment in infrastructure and improving service delivery is critical for the Asia-Pacific and it continues to recover from the global financial crisis and seeks to expand prosperity more broadly across the region. Inter-regional trade is a component of the recovery, meaning improvements to supply chains and production networks are key issues for all APEC economies.

Panel discussions at the conference explored the growth in the infrastructure financial asset class; how to strengthen public investment programs in infrastructure; whether to pursue public or private financing for infrastructure projects, and how to create a solid pipeline of well prepared public-private partnership (PPP) projects; how to manage fiscal risks of PPPs; leveraging capital markets for infrastructure finance; and investor perspectives on participation in infrastructure.

APEC finance ministers will review the results of the conference when they next meet, in Honolulu, Hawaii, on November 10, 2011.

# # #

For more information, contact: Augustine Kwan at +65 6891 9670 or ak@apec.org or Michael Chapnick + 65 6891 9670 or mc@apec.org.



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The Asia-Pacific region is leading global growth as a result of the active participation by the region's diverse producers, suppliers, consumers and workers and multilateral cooperation is critical for advancing regional economic integration. The strategic goals of Asia-Pacific Economic Cooperation (APEC) and Association of Southeast Asian Nations (ASEAN) can converge to achieve an even higher level of regional economic integration to increase opportunities and improve the quality of life for our people.

ASEAN and APEC are a dual (a twin) architecture that keeps propelling economic cooperation and policy coordination in the wider Pacific region for over two decades. Both organizations have pioneered work on trade facilitation, the ease of doing business, regulatory reform, standards, SMEs and non economic areas such as disaster management. We are addressing these next-generation issues which have emerged as a result of changes in the global trading environment. We pledge to share resources and expertise, collaborate on specific initiatives or activities, and exchange experiences on institutional development.

Our work is complimentary and the links between the two secretariats support initiatives that help members fulfill obligations to their strategic partners. Collaboration between APEC and ASEAN dates back to 1989 and has continued for over 20 years. This relationship has contributed to the development of APEC and the broadening of ASEAN's role to strengthen regional economic cooperation.

APEC and ASEAN share common ideals. Both aim to achieve sustainable growth and reduce the development gap, as well as strengthen the sense of community, among their members. APEC and ASEAN understand the importance of openness and the need to be fully integrated into the world economy in order to reap the benefits of globalization. Trade, investment and economic cooperation are considered important tools to reach these goals. Learning from each other facilitates the interests of our members.

In recent times, APEC-ASEAN cooperation has strengthened. For the last several years both secretariats have engaged each other and worked together. For example, some areas for cooperation include human security, such as dealing with health pandemics and emergency preparedness.

We cooperate to build a resilient economy and stronger institutions to support it. Sharing information on trade facilitation matters, such as single-window initiatives and supply-chain connectivity enhances the way we secure, simplify and streamline customs procedures. Initiatives aimed at reducing at-the-border, behind-the-border and across-the-border barriers to trade are helpful to promote growth and accelerate regional economic integration.

Measures like these reduce the time and cost of doing business, which represents several billion dollars in savings. In the same way, a good regulatory environment facilitates trade and cuts costs for businesses. Ultimately, these gains are felt by everyone and help to increase opportunities, create employment and fight poverty across the region.

APEC and ASEAN are conscious that growth needs to be inclusive. To enable widespread and sustainable prosperity, the benefits of growth need to reach the people on the street. Projects to promote the development of small and medium enterprises (SMEs), for example, open opportunities and increase living standards. Indeed, a previous report by the APEC Policy Support Unit and ASEAN shows that SMEs account for more than 90% of the firms in the region and employ around half of the workforce.

The partnership between APEC and ASEAN can be further strengthened by working together on issues that require coordinated responses and global actions. Initiatives to promote green growth will help mitigate and prevent climate change problems. Steps we take to facilitate green growth through capacity-building activities are crucial to address climate change problems.

ASEAN and APEC operate through a process of consultation. Our cooperation will continue as we exchange views by drawing upon research, analysis and policy ideas that mutually benefit our region. Our secretariats will continue meet regularly to continue this dialogue.

Ambassador Muhamed Noor is the Executive Director of the APEC Secretariat in Singapore. Dr. Surin Pitsuwan is the Secretary General of the ASEAN Secretariat in Jakarta, Indonesia. They met this week in Jakarta to examine areas of cooperation.



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