APEC to Pave Path on Trade: Minister Silva
Arequipa, Peru, 18 May 2016
Peru’s Minister of Foreign Trade and Tourism, Magali Silva Velarde-Álvarez, opened a pivotal meeting of APEC Trade Ministers on Tuesday with a call to “pave a path on trade and investment” needed to realize the next phase of growth and improved living standards in the Pacific Rim.
Minister Silva emphasized the importance of moving forward with new trade priorities at the 2016 APEC Ministers Reponsible for Trade Meeting, noting the benefits that greater interconnectivity of people and markets has delivered to the historic host city and agricultural, trade and tourism center of Arequipa.
Minister Silva also described the durability of Peru’s second largest city in an arid and geologically challenging environment. In doing so, she drew parallels with the need for APEC economies, a pillar of growth now confronted with weak global demand, to work together to modernize trade policy to keep their economic and social progress on solid ground.
“Arequipa is known as the ‘White City’ because of its buildings made of white lava from neighboring volcanoes and has an impressive pre-colonial and colonial past,” said Minister Silva, chair of the meeting. “It is also a place with a great potential and future.”
“We are here to focus on an extensive and promising agenda of great significance for the economies of APEC,” she continued. “Our goal is pave a path on trade and investment issues that can bring increased quality growth and human development across our diverse region.”
Policy recommendations from Asia-Pacific business leaders delivered by Juan Francisco Raffo, 2016 Chair from the APEC Business Advisory Council, and a briefing on the state of global trade from World Trade Organization Director-General Roberto Azevedo helped to guide the proceedings, echoing the need for fresh and innovative policy solutions.
Areas in the spotlight include strengthening the rules of global trade as well as next steps for advancing regional economic integration and next generation drivers of trade and investment. Improved access and use of electronic commerce and digital networks is among them.
Parallel actions to enable the internationalization of micro, small and medium enterprises, trade in services, enhanced supply chain performance and green growth are also on the table.
The APEC Ministers Responsible for Trade Meeting will conclude on Wednesday.
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For additional information, or to arrange possible media interviews with APEC officials, please contact:
David Hendrickson (in Arequipa) +65 9137 3886 at [email protected]
Michael Chapnick (in Arequipa) +65 9647 4847 at [email protected]