PH Pushes for Inclusive and Sustainable Trade and Investment, and Just, Equitable and Innovative Development Amidst Digital and Energy Transition at APEC MRT and SOM2

Secretary of Trade and Industry Alfredo E. Pascual and Philippines APEC Senior Official Undersecretary Carlos D. Sorreta with members of the DFA OUMAIER and APEC National Secretariat and DTI-BITR delegation. (APEC National Secretariat photo)

DETROIT 05 June 2023 – Philippine delegation led by Department of Trade and Industry Secretary Alfredo E. Pascual and Philippines’ Asia-Pacific Economic Cooperation (APEC) Senior Official Undersecretary for Multilateral Affairs and International Economic Relations Carlos D. Sorreta participated in the recently concluded APEC Ministers Responsible for Trade Meeting (MRT) and the Second APEC Senior Officials’ Meeting (SOM2) held on 24 – 26 May 2023 in Detroit, Michigan, USA. The Transport Ministerial Meeting (TMM), APEC related meetings, capacity building workshops, and joint cross-fora dialogues began on 14 May. All APEC economies, the APEC Business Advisory Council (ABAC), APEC observers, and guests including WTO Director-General Dr. Ngozi Okonjo-Iweala participated. The US hosting of APEC this year carries the theme, “Creating a Sustainable and Resilient Future for All.”

At the MRT, Secretary Pascual exchanged views with APEC Trade Ministers on the significant role of trade and investment in promoting inclusive and sustainable growth. Ministers also shared ideas and practical proposals on how to improve the relevance and responsiveness of the World Trade Organization to challenges including next generation trade and investment issues.

In his remarks at SOM2, Undersecretary Sorreta underscored the role of innovation and cooperation and inclusive policies in advancing the growth and development of the region’s micro, small, and medium enterprises (MSMEs) and other sectors with untapped economic potential, including those in the transportation and energy sectors. “We wish to highlight the importance of including MSMEs and empowering them to participate in the transition of the transportation sector. In the Philippines, MSMEs make up a large portion of our public transportation and if we were to effectively address the impact of the transportation sector on the environment, their inclusive and sustainable growth is critical. One of our strategies toward lowering carbon emissions is the modernization of these vehicles”, he said.

During the Plenary Sessions, APEC Senior Officials noted and endorsed the reports of its various committees and working groups, and agreed on the adoption of the work plans and workstreams of APEC sub-fora this year, including proposed collaborations and high-level and Ministerial Meetings to be held throughout the year. APEC economies broadly supported several initiatives of the US as chair such as the Digital Pacific Agenda, and the Just Energy Transition. The Philippines sustains its push for economic priorities in food and energy security, digitalization and the digital participation of its MSMEs and other economic sectors with unlocked potential, climate mitigation and adaptation action. 

The theme of APEC this year is “Interconnected. Innovative. Inclusive.” For more information, please visit https://www.apec.org/press/news-releases/2023/ambassador-tai-apec-must-forge-ahead-new-path-for-our-people. END

(left) Philippines APEC Senior Official Undersecretary Carlos D. Sorreta, along with DTI Assistant Secretary Allan B. Gepty, delivers interventions at the APEC SOM2. (right) Philippines APEC Senior Official Undersecretary Carlos D. Sorreta with Senior Officials of the APEC ASEAN Caucus. (APEC National Secretariat photo)