04 February 2015 - The Philippines as Asia-Pacific Economic Cooperation (APEC) 2015 host economy, in cooperation with the APEC Business Advisory Council (ABAC) of the Philippines and the Pacific Economic Cooperation Council (PECC) held the First Public Private Dialogue on Services on February 03 at the margins of the APEC First Senior Officials’ Meeting (SOM1) at the Fontana Leisure Park, Clark Freeport Zone, Pampanga, Philippines.
This Public Private Dialogue (PPD) on Services is the first of a series of dialogues in 2015, envisioned to guide and engage with APEC’s public and private stakeholders in:
a) Examining developments, challenges and opportunities, and identifying new strategies for building the full potential of the services sector;
b) Generating policy options toward removing barriers to services trade;
c) Developing an innovative approach in pursuing the services agenda of APEC;
d) Fostering collaboration and best practice exchanges to promote services growth in the APEC region.
The first PPD on Services covered Information Technology and Business Process Management (IT-BPM), Creative Industries, and Research and Development Services. The participants, composed of representatives from the twenty-one (21) APEC member- economies, various government agencies, and the business sector, were treated to evocative discussions on the latest trends and developments in services—long recognized by APEC as an important driver of global economy.
“The time is right for services to be put on the APEC agenda,” remarked keynote speaker, Ms. Jane Drake-Brockman of the International Trade Center (ITC). Services play a critical role in Global Value Chains (GVC) development and cooperation as defined in APEC, taking into account the perspectives of small and medium enterprises (SMEs) as they strive to maximize participation in the GVC.
The PPD discussions were led by experts from multilateral institutions and think-tanks such as the ITC, Organization for Economic Co-operation and Development (OECD), Asian Development Bank (ADB), Beijing Normal University, and APEC Policy Support Unit, as well as representatives from business including major players such as Google, Citi, Time Warner, Facebook and eBay. Rising industries such as the Philippine Animators Group and “micro multi-national” Franklin Philipps took part.
A key take-away from the discussion was the evolving services landscape brought about by new technologies such as in the internet economy, digital trade, and the dawn of “Big Data” affect how business is done today. The speed and complexity of knowledge and innovation in the 21st century present new opportunities and challenges. Cross-border data flows, high-speed internet, and the “cloud” have caused a shift in the paradigm of traditional modes of business and people-to-people exchanges such as in banking, travel and education.
The exchange of ideas in the PPD will serve as policy recommendations and inputs to the Philippines’ services initiative under the APEC 2015 priorities.
The second PPD will still focus on services, but this time, on services related to the goods sector (e.g. manufacturing-related services). This event will be held at the margins of the Second Senior Officials’ Meeting this May in Boracay.
Both PPDs are intended to build momentum and lead up to the first Regional Conference of Services Coalitions and Services Industries at the sidelines of the Third Senior Officials Meeting to be held in August 2015. END