The Finance Group of the Asia-Pacific Economic Cooperation's (APEC) Business Advisory Council (ABAC) endorsed the Peruvian initiative to empower micro, small, and medium-sized enterprises (MSMEs) through pilot projects that pave the way for economic formalization in the region.
During the meeting held in Brisbane, Australia, from February 23 to 25, ABAC's Finance Group proposed incorporating the Lima Roadmap, approved at APEC Peru 2024, into its work plan to foster the transition towards a formal and global economy.
Representatives from the 21 APEC economies also took the opportunity to assess the strategic role of e-formalization in reducing informality, emphasizing the importance of digitalization and innovation in times of change.
Similarly, APEC senior officials and experts participated in discussions that covered other crucial issues for regional development, including the strengthening of economic integration, digital trade, the financial system, artificial intelligence, clean energy use, investments, and the strengthening of health systems.
With a comprehensive vision, the meeting marked a milestone in advancing policies that not only seek economic growth but also the inclusion and modernization of key sectors for Peruvian citizens.
This initiative would open up new opportunities for Peru and its partners in the Asia-Pacific to consolidate a future of sustainable, competitive, and, above all, inclusive development for all.