APEC ministers to launch Cebu Action Plan

CEBU CITY — A roadmap to the Asia-Pacific region’s inclusiveness and resiliency is set to be launched by finance ministers of the Asia-Pacific Economic Cooperation (APEC) economies in Cebu, the Department of Foreign Affairs (DFA) announced.

The roadmap, dubbed the Cebu Action Plan, will be focused on creating inclusive APEC economies and will be adopted by finance ministers of the 21 APEC member nations.

DFA Undersecretary Laura del Rosario said the Cebu Action Plan will be launched by the finance ministers when they meet in Cebu for the Finance Ministerial Meetings between September 9 to 11. These activities are part of the APEC meetings now ongoing here.

“Cebu will be unique in the 2015 Asia-Pacific Economic Cooperation because of the Cebu Action Plan. You (Cebu) will be remembered for this,” Del Rosario said.

The DFA Undersecretary said that in adopting the Cebu Action Plan, APEC will be making a case for the globalization of trade, which in turn promotes efficient production of goods, gives consumers more choices, lowers prices by eliminating tariff, and provides access to new technology.

Ministers from the 21 APEC economies will also be meeting here on September 7 and 8 to review APEC’s structural reform efforts and tackle issues impeding inclusive growth. This initiative is aimed at enhancing economic integration within the Association of Southeast Asian Nations (ASEAN).

They would also set the post-2015 agenda of the region in the APEC Structural Reform Ministerial Meeting (SRMM) to be helmed by Socioeconomic Planning Secretary and National Economic and Development Authority (NEDA) Director General Arsenio Balisacan.