APEC summits no longer limited to trade, investments

After 26 years of its existence, the Asia-Pacific Economic Co- operation (APEC) summit has evolved into not just a regional economic forum, but has attuned itself to the times by taking up even Internet services among its members.

Foreign Affairs Undersecretary Laura del Rosario said many other factors have now become indispensable as its 21 member-economies meet every year, where women’s issues, human resources, health, water, food nutrition, transportation and energy are also discussed.

“The economy is made up of many moving parts so therefore, we cannot just talk about one aspect. So, we have to make sure that all the systems are good and we are really taking care of all moving parts,” Del Rosario said during the concluding APEC Senior Officials Meeting (SOM) last Saturday.

Del Rosario said APEC has already evolved to also include the development requirements in the region in terms of women’s issues, human resources, environment impact, health, water, food nutrition, challenges of urbanization and services like Internet. The SOM brings together senior officials from 21 APEC economies. It makes recommendations and facilitates the activities of the APEC leaders.

Del Rosario said the fulfillment of the APEC agenda, which the Philippines will be hosting this week, is reflected in how it impacts the lives of its people.

“We will know we are successful in what we are doing when our own people feel the incremental improvement in their lives,” Del Rosario said in her opening remarks for the APEC Concluding SOM held in Manila last week.

The SOM worked together to promote trade, investment and development in the Asia-Pacific region.

Del Rosario, however, noted that while the SOM has done a lot in terms of its agenda, there are aspects in it that need expansion, which they must discuss before finalizing the ministerial statement and the leaders’ declaration this week.

Del Rosario looked back to when the APEC founding members were deciding whether to focus on trade and investment or on development.

“They said we should work on the trade and investment aspect of our economy because they know these two factors underpin our economic development and in the process, development will follow,” she said.

Meantime, Del Rosario admitted it could be quite difficult to come up with a joint statement because it keeps on expanding, even when they try to make it as concise as possible.

She reminded the senior officials “that sometimes we don’t have to put a lot of those things in because we really believe that what we are doing is really there.”

“Sometimes being quiet about it is the best way. I think what I am trying to say here is that people will know and we will know it. And as people say: You know when a lion is there, the lion does not have to roar.”

– With Christina Mendez, Helen Flores, Pia Lee-Brago