APEC approves work plan under Peruvian official chairmanship

Photo: Ministry of Foreign Affairs of Peru

11:34 | Palm Springs (U.S.), Feb. 28.

The first meeting of the Asia-Pacific Economic Cooperation (APEC) Forum's Steering Committee on Economic and Technical Cooperation (SCE) was held under the chairmanship of Peruvian Senior Official before APEC, Minister Renato Reyes Tagle.

This event took place on February 26, within the framework of APEC Senior Officials' Meeting (SOM) held in Palm Springs, the United States.

Thus, the annual work plan of the SCE was approved by consensus, and an exchange of ideas took place so that the committee begins the evaluation process to implement the APEC Vision towards the year 2040.

This vision presents trade and investment; innovation and digitalization; resilient, safe, innovative, sustainable, and inclusive growth as APEC's fundamental pillars.

Last year, the aforementioned Steering Committee was unable to approve its work plan because no consensus was reached among APEC economies.

Based on what was agreed upon at this first session, the committee and its working groups will intensify their actions in areas such as institutional capacity building, empowerment of women for economic development, incorporation of sustainability and inclusion approaches to APEC's work, among others.

The results achieved at this first meeting of the SCE will also be important for crafting the thematic agenda to be presented by Peru during its APEC 2024 Presidency.

About APEC

Founded in November 1989, the Asia-Pacific Economic Cooperation (APEC) Forum is made up of 21 Asia-Pacific economies.

It seeks to promote trade and investment liberalization, facilitate business, as well as promote economic and technical cooperation in order to achieve prosperity among member economies.

Members are Australia, Brunei Darussalam, Canada, Chile, People's Republic of China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Korea, Chinese Taipei, Thailand, United States, and Vietnam.

Peru joined the forum in 1998 and has hosted APEC twice (in 2008 and 2016). It will become the host again in 2024.

Editor's note: Information provided by the Ministry of Foreign Affairs of Peru.

(END) NDP/MVB

Publicado: 28/2/2023

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