DFA Consults with Stakeholders on New APEC Vision Beyond 2020
Resource speakers and reactors gather for the multi-stakeholder consultations on Post-2020 vision for Asia Pacific Economic Cooperation (APEC). From left: Acting Senior Special Assistant of DFA-OUIER Eric Gerardo Tamayo, Philippine Ambassador to Malaysia Charles C. Jose, ABAC Philippines Guillermo Luz, Ambassador Antonio Basilio of the PECC, Philippine Permanent Representative to the World Trade Organization in Geneva, Ambassador Manuel A.J. Teehankee, Dr. Raul Fabella of UP School of Economics, Dr. Thomas Aquino, Ma. Sherylyn Aquia of DTI-BITR, and Dr. Francis Quimba of PIDS. (DFA photo)
PASAY 28 November 2019 — The Department of Foreign Affairs (DFA) conducted consultations among multiple stakeholders on the new Post-2020 Vision for the Asia Pacific Economic Cooperation (APEC) forum on 14 October 2019 held at the Makati Diamond Residence.
Hosted by the Office of the Undersecretary for International Economic Relations (OUIER), the event was organized by the Philippines APEC National Secretariat with the Philippine Institute for Development Studies (PIDS).
Around 80 participants from government, business, and academia took part in the activity. The gathering was intended to apprise Philippine stakeholders on the various inputs being considered by APEC Senior Officials and to obtain further insights from them relative to the continuing visioning process.
DFA-OUIER Officer-in-Charge Lourdes O. Yparraguirre’s welcome remarks stressed four elements of the work to be done namely: concrete timetables, cooperation and collaboration, cross-referencing and aligning individual plans and programs, and coherence.
Ambassador Yparraguirre joins other APEC senior officials who are tasked to integrate during the hosting year by Malaysia in 2020, all stakeholder inputs to define the final new vision of APEC beyond 2020.
Philippine Permanent Representative to the World Trade Organization (WTO) in Geneva Ambassador Manuel A.J. Teehankee updated the meeting on status of the report of the APEC Vision Group (AVG) for post-2020 APEC.
Guillermo Luz of the APEC Business Advisory Council (ABAC) drew attention to three basic concerns: support for WTO processes while recognizing the challenges it is facing; attention for climate change; educating people as digital innovation impacts on skills and jobs in future.
There is also a need to build more infrastructure especially those that build digital connectivity, capacity of industries and small and medium-sized enterprises, and capacity on people (workforce and entrepreneurs) and next generation (students and youth).
Ambassador Antonio Basilio of the Pacific Economic Cooperation Council (PECC) discussed PECC recommendations on the proposed vision for APEC highlighting leadership for global climate change and environmental initiatives, ensuring sustainability, structural reforms, deeper regulatory cooperation, improvement of connectivity, and harnessing potentials and addressing impacts of digital technology and other disruptive technologies.
In a panel discussion and open forum, Sherylyn Aquia of the Department of Trade and Industry-Bureau of International Trade Relations urged stakeholders to focus on action rather than vision.
Economist and national scientist Dr. Raul Fabella of the University of the Philippines School of Economics asked if the current basic organizational structure or the voluntary and non-binding nature of APEC is sufficient to push second generation issues as APEC moves forward beyond 2020, citing intellectual property rules and foreign investment competition which will be different, difficult to bring into consensus and present greater stubbornness to harmonization of economic rules.
Dr. Tomas Aquino, former trade undersecretary, expressed the hope that most regions in the country can participate in consultations because APEC concerns affect everyone. Those in business can take advantage so they can accelerate understanding on issues that affect business especially on digital economy.
As a founding member of APEC, the Philippines has led and spearheaded key initiatives that have paved the way for increased trade, investment, tourism, and high impact capacity building programs across APEC economies. APEC economies account for more than half of investments in the Philippines year, and is responsible for over 80 percent total Philippine trade transactions and tourism inflows every year.
This year is particularly significant for APEC as it marks its 30th year. It is also the penultimate year of the completion, and an assessment of the attainment, of the so-called Bogor Goals – the overall effort of promoting open and free trade and investment in the region by 2020 – a goal adopted by APEC leaders in Bogor, Indonesia in 1994. END