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Vol.15, January 2008 |
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Under the theme 'A New Commitment to Asia-Pacific Development,' Peru, which is hosting APEC in 2008, will seek to better engage member economies in the globalization process and boost technical cooperation. In addition to pursuing the ongoing trade agenda, Peru will highlight the importance of public-private sector partnerships, stronger relationships with international financial institutions and increased cooperation with international organizations and civil society to achieve sustainable development. The region requires an integrated approach, where government policies, technical and financial capacity, and private enterprise join in a concerted effort.
Establishing an Asia-Pacific community, as agreed by APEC's founders in 1989, will help guarantee a better life for people of the region through free trade and increased investment. In 2008, Peru will emphasize those issues that will help members, especially developing economies, face the challenges of the modern economy.
Speaking about APEC 2008, Peru's Minister of Foreign Affairs, José Antonio García Belaunde stressed, "We can not develop trade without developing the social institutions since both need to be together. Through trade we can bridge the development gap."
"We believe that education is a key factor for sustainable economic development. It's going to be one of the main issues."
APEC Ministers have stated that the best way to achieve growth and development in the whole region is through increased trade and investment liberalization, business facilitation, addressing behind the border barriers, and using APEC mechanisms of economic and technical cooperation.
During their meeting in Sydney, APEC Foreign and Trade Ministers acknowledged that an open, rules-based system under the World Trade Organization (WTO) and the successful conclusion of the Doha Development Agenda (DDA) provides the best means for sustaining economic growth.
"We fully support APEC's firm commitment to the multilateral trading system and to contributing to a successful conclusion of the WTO Doha Round. A successful ambitious outcome of the Doha Round will, no doubt, expand trade flows and investment and stability to our region," declared Peruvian Foreign Trade Minister, Mercedes Araoz,
"While underscoring our strong belief in APEC's ambitious but at the same time attainable and necessary targets, the theme Peru has chosen for 2008, 'A New Commitment to Asia-Pacific Development' constitutes an expression of our commitment to the regional goals and the objectives of growth and sustainable development."
The promotion of free trade arrangements, including a free trade area of the Asia-Pacific (FTAAP) as a long-term goal, as well as the development of model measures for free trade agreements (FTAs) and regional trade arrangements, intellectual property rights (IPR) protection and sharing of its benefits, are issues that hold a high priority for APEC in 2008.
In a letter delivered to APEC Economic Leaders in September 2007, the APEC Business Advisory Council recommended that the FTAAP could serve both the objectives of addressing the proliferation of free trade agreements in the Asia-Pacific region as well as promoting a higher level of convergence and consolidation of FTAs in a comprehensive and WTO-plus manner.
"We think the FTAAP can be a useful mechanism for consolidating and accelerating our progress in reaching the Bogor goals," Minister Araoz told members of the business community when they met in Sydney last year.
Structural reform will be high on the agenda in 2008. For the first time, a ministerial-level meeting will be held to discuss such issues as competition policy, corporate governance, strengthening economic and legal infrastructure, regulatory reform and public sector governance.
"Economy, efficiency and competitiveness are the basis for transparency. We will promote more transparency rules in the functioning of the economy," said Minister García Belaunde. "Fighting corruption is another important way to facilitate the transparency of the economy."
Peru wants APEC to highlight the importance of corporate social responsibility in the Asia-Pacific region. By working together, the private sector and the government can promote and secure welfare, better livelihoods and better income for the people of the region through corporate social responsibility programs.
The APEC Secretariat's Executive Director, Ambassador Juan Carlos Capuñay said "We are emphasizing the importance of small and medium enterprises (SMEs) which employ a significant amount of workers in the region and represent close to half of regional production. We want SMEs to be more fully engaged in regional trade".
"In 2008, Peru will seek a genuine and constructive interaction - a partnership between the private and public sectors - on issues of common concern and understanding," adds Ambassador Capuñay. "The main goal is to prepare members for the challenges of globalization and to help more people participate in the modern economy."
Cooperation in 2008 between the private sector and outreach to ABAC and international financial institutions is essential to achieve APEC's regional goals and will be the hallmark for 2008.
Holding meetings in different regions and different cities will help Peruvians have the opportunity to fully understand globalization and to have access to the Asia-Pacific market.
"It is also a challenge because Peru now has this opportunity to demonstrate to the whole world that the Peruvian economy is efficient, competitive and transparent. Peru has to demonstrate that it is a reliable partner for trade and investment," concludes Minister García Belaunde who is confident that this year will be a success.
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