Secretary Locsin, Secretary Lopez Join APEC Ministers in Forging New APEC Agenda

Foreign Affairs Secretary Teodoro L. Locsin, Jr.

PASAY CITY 18 November 2020 — Foreign Affairs Secretary Teodoro L. Locsin, Jr. and Trade and Industry Secretary Ramon M. Lopez joined other Ministers and representatives from all 20 other APEC Economies in the 2020 Asia Pacific Economic Cooperation (APEC) Ministerial Meeting (AMM) on 16 November 2020 via a virtual platform organized by Malaysia as the APEC 2020 Host Economy.

Malaysia is concluding its hosting year with the theme “Optimising Human Potential towards a Resilient Future of Shared Prosperity. Pivot. Prioritise. Progress.” which include the following priorities: improving the narrative of trade and investment, inclusive economic participation through digital economy and technology, driving innovative sustainability, all under the mantle of shared prosperity.

During the meeting, Ministers adopted a consensus Joint Statement which endorses a new Vision for the APEC community.

APEC’s new vision, said Secretary Locsin, is one of “hope, assurance and trust in people-centered principles; and the pursuit of sustainable and quality growth to address pressing inequities, including environmental crises which hit hardest those least capable of weathering them”. He urged the 21-member economies to affirm support for a multilateral trading system that affords a predictable rules-based regime that furthers the agenda for easing trade flows.

Trade and Industry Secretary Ramon Lopez stressed that APEC must bring MSME advocacy to a higher level as he cited the need for structural reform to create an enabling environment that promotes innovation and inclusive growth, with innovation at the core of sustainable economic development.

APEC comprises Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong China, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States and Vietnam. Representatives from the ASEAN Secretariat, Pacific Economic Cooperation Council (PECC) and The Pacific Island Forum (PIF) also attended the Meeting as observers, together with the APEC Business Advisory Council (ABAC).

The Honourable Dato’ Seri Mohamed Azmin Ali, Senior Minister for Economy and the Minister of International Trade and Industry of Malaysia served as APEC 2020 AMM Chair.

Officials accompanying Secretary Locsin included Undersecretary and APEC Senior Official Lourdes O. Yparraguirre, and Philippines APEC National Secretariat Director General Eric Gerardo Tamayo. END

Trade and Industry Secretary Ramon M. Lopez