The United States of America congratulates Thailand for successfully hosting the APEC year despite ongoing economic challenges caused by the COVID-19 pandemic and Russia’s war against Ukraine. During 2022, the United States worked with APEC economies to strengthen supply chain resilience and facilitate trade, build a more open digital economy, level the playing field and open markets in the region, advance women’s economic empowerment, and promote sustainable economic growth. Vice President Harris’ participation in the APEC economic leaders’ meeting underscored the US commitment to economic cooperation in the region. She reviewed US goals for our 2023 APEC host year and announced San Francisco as the site of the 2023 APEC Economic Leaders’ Week. Leaders endorsed the Consensus Declaration as well as the Bangkok Bio-Circular Green Economy Goals and committed to achieving the ambitious sustainability and inclusion goals of APEC economies. Secretary Blinken and US Trade Representative Ambassador Tai joined their counterparts in issuing a consensus joint ministerial statement . We look forward to continuing to advance many of these priorities during the United States’ 2023 APEC host year.
Through APEC, the United States seeks to advance a free, fair and open economic policy agenda that benefits American workers, businesses and families. The economies of the 21 APEC members account for 38 percent of the world’s population, or 2.9 billion people, and roughly 47 percent of global trade. As of 2021, fellow APEC members were the destination for more than 60 percent of US merchandise exports, and seven of the United States’ top 10 trading partners are APEC members.
As part of our ongoing commitment to the region and broad-based economic growth, the United States is excited to host APEC in 2023. Hosting APEC in 2023 will provide the United States with a unique opportunity to demonstrate American economic leadership and multilateralism in the Indo-Pacific and highlight the direct impact of international economic engagement on prosperity here in the United States. Under the theme “Creating a resilient and sustainable future for all”, we plan to build a more interconnected, innovative and inclusive APEC region.
Through our 2023 APEC host year, we will seek to further US economic engagement in the region. Regular exchanges between governments, business leaders – including through the APEC Business Advisory Council (ABAC) – and other stakeholders are critical to ensuring that APEC provides pragmatic solutions to key challenges facing American workers and businesses, both at home and in the region. .
MAKE TRADE IN THE REGION FREE, FAIR AND OPEN
The United States is committed to working with APEC economies to make trade a force for good that fuels the race to the top and brings economic prosperity for our workers and all our people. US priorities in APEC include making resilience, sustainability and inclusiveness core values in trade policy choices; advancing the needs of American workers, consumers and businesses; and preparing other economies to participate in high-standard trade agreements. The United States is working in APEC to advance the administration’s trade plan by:
SUPPORTING US INNOVATIONS AND THE DIGITAL ECONOMY
COVID-19 has highlighted the importance of the digital economy in driving economic growth, creating new jobs and cultivating new markets and new industries across APEC economies. A more open, interoperable, and secure Internet will benefit the U.S. economy, where the digital economy accounts for about 10 percent of GDP. This year, the United States promoted new, innovative digital technologies to respond to – and recover from – COVID-19 by:
HELP AMERICAN COMPANIES IN BUSINESS
We are working in APEC to improve the implementation of economic policy, business regulation and fair competition to level the playing field and open markets for US companies. We also work with economies to implement good regulatory practices, break down barriers to business and introduce anti-corruption measures. Our work in APEC makes it easier for US companies to do business in the region by:
EXPANDING WOMEN’S PARTICIPATION IN THE ECONOMY
One of our top priorities for APEC remains advancing the economic empowerment of women across the region. Greater economic participation and leadership by women, especially in the region’s post-pandemic economic recovery, will boost GDP growth and promote stability. Through APEC, we work to expand economic opportunities for women through:
PROMOTING A HEALTHY, RESILIENT AND SUSTAINABLE ECONOMY
The United States works with APEC partners to address external factors that affect economic participation, such as social protection, health, and environmental issues. Working to maintain a healthy population, build resilience and promote the sustainable use of environmental resources are all necessary to sustain long-term economic growth. We work in APEC to mitigate the economic impacts of health and environmental challenges:
For additional information, contact the Office of Economic Policy in the Bureau of East Asian and Pacific Affairs at DOSAPEC@state.gov.
Sometimes known as the ‘three pillars’ of APEC, these are the areas of trade and investment liberalization, business facilitation and economic and technical cooperation.
What is APEC and what is its mission?
APEC (Asia-Pacific Economic Cooperation) APEC is the main economic forum for promoting sustainable economic growth and prosperity in the Asia-Pacific region through the pursuit of liberalization and facilitation of trade and investment.
What does APEC mean, of which the Philippines is a member? APEC, or the Asia-Pacific Economic Cooperation, was founded in 1989 by 12 economies (including the Philippines) and became a non-binding and voluntary forum to discuss issues of trade, investment and economic cooperation. See the article : Migrants, newly arrived in the United States, struggle with immigration barriers. Since its inception, APEC now has 21 member states.
Why APEC is important in the Philippines?
Apec (or Asia-Pacific Economic Cooperation) is important to the Philippines for several reasons. It accounts for 64 percent of foreign direct investment, 84 percent of exports and 63 percent of our overseas Filipino workers. This may interest you : The Crisis of the Century: How America Can Protect Climate Aliens. Here’s a snapshot of some of the areas we’re currently discussing.
What are the values of APEC?
We are guided by three basic values: This may interest you : State Day of the Federal Republic of Somalia – State Department of the United States.
- Professionalism – We value a working environment based on cooperation and shared vision.
- Respect – The Asia-Pacific region is diverse and so is the APEC Secretariat.
- Integrity – We are entrusted with an important job that requires accountability and transparency.
What is the main goal of APEC? Overview of APEC. The Asia-Pacific Economic Cooperation (APEC) Forum, founded in 1989, has become the preeminent economic forum in the Asia-Pacific region. Its primary purpose is to promote sustainable economic growth, trade and investment, and prosperity in the Asia-Pacific region.
How many principles are there in APEC?
The nine principles within the APEC Privacy Framework are prevention of harm, notice, limitations on collection, use of personal data, choice, integrity of personal data, security measures, access and correction, accountability.
What are the four values of APEC?
APEC’s 21 members aim to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative and secure growth and accelerating regional economic integration.
What type of integration is APEC?
Integrating the region and ensuring that goods, services and people move easily across borders is at the core of APEC’s work.
What type of economic integration is APEC? APEC: Cooperation and Consensus APEC acts as a cooperative, multilateral economic and trade forum. Member economies participate on the basis of open dialogue and respect for the views of all participants. In APEC, all economies have an equal say and decisions are made by consensus.
What type of trade agreement is APEC?
The Asia-Pacific Economic Cooperation, or APEC, is the leading forum in the Asia-Pacific region to facilitate trade and investment, economic growth and regional cooperation.