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News Alert Issued by the APEC Secretariat

Peru Launches APEC 2008, Marking 10-Year Anniversary of Membership

January 11, 2008, Singapore

Peruvian President, Alan Garcia officially launched the year-long chairmanship of the 2008 Asia-Pacific Economic Cooperation (APEC) forum on Thursday. In attendance were the President of the Extraordinary High Level Commission APEC 2008 (CEAN), Vice-Admiral (r) Luis Giampietri Rojas and the Ministers of Foreign Affairs; Economy and Finance; and International Trade and Tourism.

The President's announcement, which took place in a ceremony at the Government Palace, marks 10 years of membership in APEC. Said President Garcia, "Hosting the Asia Pacific Economic Cooperation forum will help Peru to deepen its economic growth, trade and investment." He emphasized that the APEC forum will allow Peru to become the centre of the international community and help to insert itself in international trade.

From Singapore, Ambassador Juan Carlos Capuñay, Executive Director of the APEC Secretariat explains that, "The APEC Economies represent over 55 percent of world trade and 2.7 billion people. This year's theme underlines the fact that genuine, sustainable development must benefit people at all levels."

Embracing the theme, "A New Commitment to Asia-Pacific Development," APEC Peru 2008 will consider the social dimension of free trade and investment.

Says Ambassador Capuñay, "The objective of the forum is to encourage free trade and increase investment in Asia-Pacific. But the reason we consider these to be valuable pursuits is because they actually improve the lives of people in the region."

Particular emphasis will be placed on strengthening the association between the private and public sectors, and the ample participation of international financial organizations. Ministerial meetings will address subjects of commerce, tourism and finance. In other workshops, senior officials will discuss issues such as education, rules for transparency, and small and medium enterprises (SMEs).

"SMEs employ a significant amount of the Asia-Pacific population but represent only a minimal percentage of exports," Ambassador Capuñay offers as example. "This equation has to be changed."

One of the most important issues addressed will be partnerships between public and private sectors. To this end, the APEC CEO Summit 2008 will be held concurrently with the Leaders' Meeting in November. As an opportunity for CEOs to engage in discussions with APEC Economic Leaders, policymakers, academia and other businesspeople on the most critical economic and business issues facing the region, it has become a symbol of such cooperation.

Meetings will span across 10 Peruvian cities throughout the course of the year in what Ambassador Capuñay considers "an opportunity for Peru to demonstrate its potential and to access the Asia-Pacific market - the opening of a new chapter in a long-term relationship."

Official events are to commence in Lima between February 19 and March 3 and will include working-level meetings as well as the first Meeting of Senior Officials for the year.

For additional information contact:

Carolyn Williams on +65 6772 7658 or E-mail: cdw@apec.org

Anita Douglas on +65 9172 6427 or E-mail: ad@apec.org