This report outlines the discussions from the 17th Conference on Good Regulatory Practice (GRP) held in Lima, Peru from 19 to 20 August 2024. The Conference gathered experts and participants from the governments, international organizations, academia and business sector to discuss, as a main objective, how core GRPs are fundamental in designing and implementing policies that promote the transition from informal to the formal economy.

The specific objectives of this conference are: i) Share experiences among APEC members on the role of regulatory quality to promote competition and productivity, encouraging the transition to the formal economy; ii) Promote greater reliance on GRPs to enhance regulatory governance and improve the regulatory lifecycle; and iii) Increase capacity among regulatory officials in the implementation of GRPs to respond to emerging regulatory challenges.