The Philippines has reaffirmed its commitment and dedication to global trade and regional economic integration at the 2024 Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting (AMM) held in Lima, Peru, from November 10 to 16, 2024.
Department of Trade and Industry (DTI) Secretary Cristina Roque led the Philippine delegation and served as President Ferdinand R. Marcos Jr’s Special Envoy to the 2025 APEC Economic Leaders Meeting (AELM).
She was accompanied by Department of Foreign Affairs (DFA) Undersecretary Charles Jose and DTI Undersecretary Allan Gepty.
“The future of APEC as an institution and the welfare of our region depends on our ability to work together. Let us strengthen partnerships, champion innovation, and prioritize inclusivity. Through our work, we can navigate the complexities of the global economy and emerge as a stronger, more resilient region for all,” Roque said as quoted in the DTI press release Monday.
Meanwhile, in a speech, Gepty highlighted the Philippines’ unwavering commitment to multilateral trade cooperation and regional integration.
He said the Philippines strongly supports the World Trade Organization (WTO) and emphasized the importance of the Free Trade Area of the Asia-Pacific (FTAAP).
He said APEC-member countries must work together to strengthen the WTO’s functions, ensure the effective implementation of new rules, and support initiatives such as investment facilitation, services domestic regulation, the Fisheries Subsidies Agreement, as well as e-commerce.
He also called on APEC members to build on the foundation of existing Free Trade Agreements (FTAs) and economic partnerships, including the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
“As we navigate an increasingly complex and interconnected global landscape, it is important that we prioritize both traditional and contemporary trade and investment issues to build a strong foundation for our eventual economic integration,” Gepty said.
The meeting, which centered on APEC’s overall theme of “Empower. Include. Grow,” provided a platform for the Philippines to advocate for inclusive and interconnected growth across the Asia-Pacific region.
Meanwhile, at the AELM, Roque delivered an intervention on behalf of President Marcos, emphasizing the importance of sustainable economic practices and inclusive growth.
Roque highlighted the Philippines’ support for APEC’s recent initiatives, such as the promotion of clean, low-carbon hydrogen and the reduction of food loss and waste.
She further emphasized the need for stronger partnerships, innovation, and inclusivity to navigate the complexities of the global economy, while stressing the importance of ensuring that the benefits of economic integration are shared at the domestic level, particularly among vulnerable groups, underrepresented populations, and rural communities.
“Indeed, our policies and programs should create opportunities for everyone, not just a select few. By partnering closely with industry while focusing on inclusive growth, we can build a more prosperous and equitable Asia-Pacific region for all our people,” she said in her concluding remarks.
The AELM concluded with the APEC Economic Leaders’ Retreat on November 16, marking the end of Peru’s hosting and the transition to Korea as the APEC 2025 host.
The Philippines’ proactive engagement in APEC and its focus on inclusivity complement the goal of a “Bagong Pilipinas” (New Philippines) that creates a more prosperous and equitable society for all Filipinos through international collaboration and sustainable development. (PNA)
