Thursday, October 30, 2014

Pres. Aquino to discuss trade, governance during 2014 APEC Summit

President Benigno S. Aquino III will be discussing trade, good governance, and disaster resilience when he meets with fellow leaders and businessmen during the 2014 Asia-Pacific Economic Cooperation (APEC) Summit in Beijing, China next month.

Foreign Affairs Undersecretary for International Economic Relations Laura del Rosario said that the President's schedule includes meetings with business executives and fellow leaders during the APEC Summit.

Del Rosario said that as part of the APEC tradition, the President will have a dialogue with the chief executive officers or with members of the APEC Business Advisory Council.

Prior to the CEO Summit on November 9, the President will give a talk on economic reform for competitive growth, she said.

"This topic is really very appropriate for the President because we are aware of the fact that this administration has done a lot of improvements in its regulations, just so we can become more competitive," she said.

After his meeting with the business leaders, the President will have a dialogue with his fellow leaders on promoting disaster resilience, small, micro- and medium enterprises, financial inclusion, and domestic governance.

According to del Rosario, there will be a discussion on Internet economy, physical connectivity, people-to-people connectivity, as well as APEC scholarships.

She said the Chief Executive is also expected to speak about strengthening the connectivity and structural development of APEC member countries.

"During the Summit itself, the leaders themselves will carry out the discussions and look forward to the future discussions that will be held in future APEC (meetings)," she explained.

For the APEC Leaders’ Meeting, the leaders will discuss advancing regional economic integration, specifically free trade arrangements among Pacific Rim countries.

Del Rosario noted that APEC 2014 is handling issues that are more complex than before, because the Asia Pacific is now becoming increasingly sure of its role as the engine of growth in the whole world.

There are also more pressing matters that need to be addressed, she said, considering the previous experiences that the trade bloc had in 2008, particularly the financial crisis and the expansion of trade in the region.

Countries will be looking more into areas where they can do more improvements, she added.

The President will leave for China on November 9. He will leave Beijing on November 11 to attend the ASEAN Summit in Myanmar. (PCOO News Release)

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