, Peru has placed the transition of informal economic actors to the formal economy at the center of the agenda, emphasizing economic development and growth that addresses the aspirations of the most vulnerable actors in our economies.
During his participation at the Fourth APEC Business Advisory Council (ABAC) Meeting 2024 on Monday, the ambassador stated the Lima Roadmap to promote the transition to a formal and global economy will be a key tool for recommending public policies that address this issue with an integrated approach.
The Peruvian minister underscored the need for the business community and governments to jointly tackle challenges such as trade barriers, digital transformation, sustainability, and inclusion to ensure that companies of all sizes reach their potential in an uncertain global economy.
In this regard, the ambassador highlighted APEC's role as a tripartite cooperation platform that brings together public and private sectors, as well as universities' efforts, to drive sustainable and inclusive growth initiatives.
In this regard, he noted that the groundwork for a successful endorsement of the APEC Leaders' Declaration is being laid.
The Cabinet member noted that in 2024, 10 Ministerial Declarations, as well as five economic and diplomatic deliverables addressing crucial issues such as economic inclusion for people with disabilities, low-carbon hydrogen, food loss and waste reduction, fair and just energy transition, and financial sustainability were adopted by consensus.
In his remarks, Minister Schialer reiterated the Peruvian Government's unwavering commitment to APEC as a primary platform for economic cooperation across the Asia-Pacific.
He also noted ABAC's vital role in advancing this agenda, stressing that its continued dedication is essential for achieving shared prosperity for companies and communities.
Lastly, he voiced confidence in the Republic of Korea's leadership of the ABAC 2025 Presidency.
21 leading economies
APEC is made up of:
Australia, Brunei Darussalam, Canada, Chile, People's Republic of China, Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, the Russian Federation, Singapore, Chinese Taipei, Thailand, the United States, and Viet Nam.
Together, they account for 62% of world's GDP, 48% of global trade in goods and services, plus 38% of the planet's population.
(END) NDP/RMCH/MBC/MVB