PH Joins APEC Collective Response on COVID-19 Pandemic

Participants during the APEC 2020 Second Virtual Extraordinary Senior Officials’ Meeting on 24 July 2020.

PASAY CITY 27 July 2020 – The Philippines has affirmed its commitment for the collective response of the Asia Pacific Economic Cooperation (APEC) against the COVID-19 pandemic, with Department of Foreign Affairs (DFA) and Department of Trade and Industry (DTI) officials attending over the weekend two-day back-to-back APEC virtual meetings.

The Virtual Ministers Responsible for Trade (VMRT) and the Second Virtual Extraordinary Senior Officials’ Meeting (VESOM2) on 25 and 24 July 2020 tackled APEC’s policy response to the pandemic, its collective economic recovery efforts under the new normal in the region, and initiatives to operationalize the May 2020 MRT Statement, with inputs from business leaders.

Trade Secretary Ramon Lopez attended the VMRT, where APEC trade ministers issued a statement identifying APEC’s initiatives to respond to the impact of the pandemic towards economic recovery, and reaffirmed commitments to facilitate the flow of essential services goods such as medicines, medical supplies and equipment in the region through the “Declaration on Facilitating the Movement of Essential Goods.”

Foreign Affairs Undersecretary for International Economic Relations Lourdes O. Yparraguirre represented the Philippines in VESOM2, where APEC Senior Officials laid the groundwork for recovery and resilience.

The trade ministers and senior officials noted the recommendations of business leaders in the region on mitigating the economic impact of the pandemic and for economic recovery. APEC Business Advisory Council (ABAC) Chair Dato’ Rohana Mahmood highlighted the importance of keeping markets, goods, services and investment open because a global pandemic requires a coordinated global response. “In a deeply integrated and interconnected world, it does not make sense for any economy to seek to be self-sufficient in the essential tools to fight the pandemic”, she said.

APEC Secretariat Executive Director Dr Rebecca Sta Maria pointed out that the crisis entails multilateral coordination.

COVID-19 response of APEC will be part of the Post-2020 Vision of APEC, which will be unveiled in Malaysia this December during the Economic Leaders’ Summit. Details of the Vision will be discussed in 2021 with New Zealand as host.

Secretary Lopez expressed the Philippines’ support for a regularly reviewed online policy tracker that shares best practices on economies’ response to the pandemic, trade measures, product standards, health, financing, social conditions, education and environment, and a regional mechanism to stockpile on critical goods. He stressed that trade ministers have a collective responsibility to work for a new and better normal in the region, emphasizing that collective efforts and work must focus on safeguarding the people’s welfare, building resiliency, keeping trade free, open and fair, and preparing economies for the new normal.

Trade Secretary Lopez also urged APEC to provide more support and a new vision framework for small businesses, the biggest sector affected by the pandemic, so they can adopt to new business models and acquire digital tools and skill to survive the crisis. The enthusiasm of small business and start-ups must also be sustained through programs that encourage innovation and commercial activities, access to finance, and other financial solutions such as a “pandemic bond” or other financial instruments “since our capability in government to offer loans is not limitless”, he said.

For her part, Foreign Affairs Undersecretary Yparraguirre stressed during VESOM2 the need to address the pressing challenges on small enterprises and the importance of measures which resonate with the people at the grassroots level because they keep an eye on accessibility of health goods for prevention and treatment. “For instance, people may look for assurances -- as many have come to believe and anticipate, that any vaccine that comes out will not just be available, but also accessible, acceptable, and affordable. Secondly, APEC needs to significantly enhance public service delivery within and across economies by facilitating technology transfer and narrowing the digital divide. APEC can drive technological advancements and facilitate technology adoption as economies adapted and adjusted to the pandemic”, she added.

Foreign Affairs Undersecretary Yparraguirre expressed appreciation for ABAC’s Report on COVID-19 as it echoes enterprises’ clamor noting that as agents of public governance, APEC realized so exceptionally recently that the private sector is needed as an indispensable partner. Policy planning and implementation entails side-by-side efforts with the private sector, the communities and the citizens.

She also highlighted the need for a communications plan, as public trust and confidence on recovery programs can only be successful if they are communicated properly and appropriately with clienteles. Foreign Affairs Undersecretary Yparraguirre emphasized that “we need to think of an efficient and effective education-information-communication campaign in the fight against the pandemic and in implementing economic reform programs. We have to exert effort to muster support of public opinion in favor of institutions effecting change, including APEC and its initiatives. Acuity of programs and clarity in communication. We need both more than ever”. END

Participants during the APEC 2020 Virtual Meeting of the Ministers Responsible for Trade (VMRT) on 25 July 2020.