BBM: AsPac should continue to grow
SAN FRANCISCO, California — President Ferdinand Marcos Jr. on Wednesday (US time) said the Asia-Pacific region should continue to grow to accommodate seats that “represent all people.”
In his remarks during the Asia-Pacific Economic Cooperation CEO Summit at the George Moscone Convention Center, Marcos said the region could make room for improvements through expert consultations, policy discussions and stakeholder interactions.
He said the decision-makers’ role is to take heed and constructively discuss how to stitch together differing contexts and multi-directional approaches.
“Examples include the sharing of aggregated consumer data from industries to enable evidencebased and scalable public programs and projects; the recalibration and standardization of reporting structures and assessment templates to take stock of our progress in an equitable and sustainable growth; and, not least, a collaboration on the development of environmental, social and governance, responsible business conduct, and good regulatory practices and other partners and frameworks that will balance profit and prosperity with our accountability to the environment and our people and help ensure that not one group is adversely affected,” Marcos added.
He emphasized how important it is for APEC members to strengthen their relationships with stakeholders.
He warned that developing countries are “most at risk of such alienation” and that the race towards sustainability carries the risk of growing protectionism.
“As economies embrace new technologies, temptations abound to push for one’s own profits from the development of these technologies or to discriminate against imports from those deemed non-compliant with environmental standards,” Marcos said.
He added: “These have deleterious effects to not only our supply chains but will also further exclude our people, especially our small-scale producers, suppliers, and exporters, from participating in global value chains, thereby limiting their participation in the production and distribution of products and services that facilitate our sustainable transition.”
He said economic reforms should be implemented to improve the efficiency of services, transfer benefits to lessen inequality and raise living standards, and fortify the economic foundations to withstand shocks and crises and spur growth.
He said that policy discussions — particularly those that encourage inclusivity — should continue to be a crucial APEC tool for reducing wealth disparities and providing poor nations with some leeway in terms of policy.
He said the “biggest” issues confronting APEC members should also be addressed, such as supply chain disruptions, food and energy shortages, natural disasters, medical emergencies, the climate crisis, and the detrimental effects of the conflict between Russia and Ukraine on the economy.
Meanwhile, several groups in San Francisco staged protests outside the venue of the 2023 APEC Summit.
Most demonstrators staged protests outside The Pickwick Hotel, where the Philippine media delegation is staying.
Rhonda Ramiro, convenor of “No To APEC Coalition,” told the Filipino reporters in a chance interview that the summit will only help large corporations.
She believed the summit was doing little to solve the migrant issue, the climate problem, or the historically high rate of homelessness in the US.
“The APEC is meeting the top CEOs in the world today to cut more deals that will punch more people into poverty,’’ Ramiro said. ‘’Its agenda is making profits for the one percent and the corporations that are already rich.”