Andina

Peru's President to participate in 27th APEC Summit

Photo: ANDINA/Presidency of the Republic

Photo: ANDINA/Presidency of the Republic

13:00 | Lima, Nov. 18.

The new President of the Republic Francisco Sagasti Hochhausler confirmed his participation in the 27th Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum on November 20, the Ministry of Foreign Affairs has confirmed.

Peru has been actively participating in the APEC forum since 1998.

The APEC forum brings together the 21 most dynamic economies in Asia-Pacific, including the United States, Canada, Australia, China, Japan, and Korea, among others, which —together— represent 60% of world's GDP, 47% of global trade, and 38% of the planet's population.

Eight (8) member countries of the OECD are part of this cooperation scheme, nine (9) make up the G20, and three (3) are permanent members of the UN Security Council.

The mission of the APEC forum is to promote quality economic growth and prosperity in the Asia-Pacific region, which is why it works to remove barriers that prevent the proper functioning of the market economy, as well as the free flow of goods, services, investments, and people in our region.

It does so through initiatives such as individual action plans for trade liberalization, business facilitation, and structural reform of economies, in addition to the development of physical, institutional, and person-to-person connectivity, among others.

The latter includes projects to favor women's entrepreneurship, as well as innovation and digitalization in the MSMEs sector, among others.

In its efforts, APEC calls on contributions from governments, businesses, and academic institutions.

Peru has a special geo-economic interest in projecting itself across the Pacific Basin, not only for reasons of a historical and geographical nature, but also for economic, commercial, and cooperation interests.

(END) NDP/MVB

Published: 11/18/2020