Metro Manila to host the APEC Economic Leaders' Meeting and CEO Summit

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Metro Manila, Philippines to host the 2015 APEC Economic Leaders' Meeting and CEO Summit.

The Asia-Pacific Economic Cooperation, or APEC, was established in 1989. It started as an informal ministerial level dialogue group with 12 members: Australia, Brunei Darussalam, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Canada, and the United States. APEC was initiated as an annual meeting of foreign and trade ministers to sustain the momentum of market opening and economic cooperation which are vital to growth and prosperity.

The primary purpose behind APEC’s establishment is the desire to have a forum that caters to the enhancement of states’ economic conditions. This would entail the facilitation of economic growth, the promotion of cooperation among states, the liberalization of trade, and the creation of investment opportunities in the Asia-Pacific community.

How did the Philippines formulate the APEC 2015 theme?

Stakeholders and other significant actors adopted and utilized a set of guiding principles in crafting the theme for APEC 2015. Accordingly, the theme should possess inclusive, forward-looking qualities such as balance, continuity, relevance, resonance, and sustainability. It shall underline and advance both domestic and regional goals through building on past and ongoing initiatives while addressing present challenges and needs that relate to common concerns and interests. Moreover, the APEC 2015 theme should be realized by achieving medium term to long-term results.

Activities were also conducted to gather information, facilitate the exchange of opinions, engender support, and formulate policy initiatives and recommendations. Specifically, consultations were held involving government agencies, private sector and APEC Senior Officials to assess the level of comfort on the priorities and gather support for these priorities. Further, research studies were done in collaboration with the academe and think tanks to substantiate identified priorities and produce policy recommendations. Workshops were also organized with host agencies, including private sector, for the purpose of defining the elements of various high level meetings in 2015.

What is the theme of APEC 2015?

Under the Philippines’ leadership, the overall subject of APEC 2015 is the promotion and advancement of inclusive growth in the Asia-Pacific region, hence the APEC 2015 theme, “Building Inclusive Economies, Building a Better World.” Accordingly, inclusive growth can be defined, described, and analyzed in three stages –domestic/national, regional, and macro levels.

At the domestic/national level, the inclusive growth strategy of the Philippines is based on creating employment opportunities and jobs, involving and integrating the majority of the population in the economic and social mainstream, and alleviating poverty through good governance and domestic reform.

At the regional level, the inclusive growth strategy of the APEC region is focused on expanding access to opportunities and enabling people to realize their full potential which will result in more productive employment opportunities, dynamic economic growth, and greater well-being.

At the macro level, the inclusive growth trajectory of the APEC region is centered on bridging the gap between developing and developed APEC economies for the purpose of maximizing the benefits of a freer and more open trade and investment regime for each and every member economy.

What are the APEC 2015 priorities of the Philippines as host Economy?

In APEC 2015, the Philippines as Host Economy shall seek to mainstream and pursue its priorities into the agenda and economic policy thrusts of the member economies in the Asia-Pacific region. Specifically, the priorities were identified as follows: