The Singapore National Committee for Pacific Economic Cooperation (SINCPEC) and the Philippine Pacific Economic Cooperation Committee (PPECC) co-organized annual PECC Singapore Conference, "Achieving Inclusive Economic Growth in the New Normal," on February 27th 2015 in support of APEC 2015 chaired by the Philippines.
When we talk of the 'new normal' it tends to be in terms of the slower growth many economies in the region are facing today and inclusive growth has been defined in terms of ensuring that more citizens have the opportunity to benefit from and contribute to economic activity. This was the intent of the way this conference was framed. However there are other ways to think about these concepts and this became apparent through the course of our discussions.
The challenge of inclusive growth agenda is enormous. When the region's policymakers set the Bogor Goals it was a top-down process. The region's leaders agreed that the best path to achieving prosperity was t...Read more...
The Philippines PECC committee hosted the 23rd General Meeting of PECC in Manila with the theme, "Growth Engines for the 21st Century: Achieving Balanced, Inclusive, and Sustainable Growth."
Following are the plenary and concurrent sessions of the General Meeting:
Plenary Session 1: Sustainable and Inclusive Growth in the Asia-Pacific Century
The 21st century was touted as the Asia-Pacific century, 15 years on with the fallout from the Global Financial Crisis still bearing over the world economy, what will the drivers of growth be in the coming 5-10 years? The structural changes taking place in major economies such as China, Japan and the United States, the growing constraints on the supply of resources and environmental concerns will have a profound impact on prospects for growth for the entire region. On the other hand, the broader adoption of new technology and new ways of conducting business may provide solutions and opportunities for growth. What role for policy r...Read more...
H.E. Mr. Cheng Siwei, a renowned Chinese economist and former vice chairman of the Standing Committee of China's National People's Congress, died of illness early Sunday in Beijing at the age of 80. Mr. Cheng was former chairman of China National Democratic Construction Association Central Committee and former leader of the National Association of Vocational Education of China.
Mr. Cheng was pro-liberalization and Asia-Pacific economic cooperation. As Honorary Chairman of CNCPEC, Mr. Cheng was always supportive of the PECC process. Since the Seoul General Meeting in 2005, he attended quite a few PECC General Meetings. He never missed an annual meeting of CNCPEC and used to honor with his presence a host of international meetings organized by CNCPEC. He even attended the PECC Tianjin Trade and Investment Fair, despite his very tight schedule. Last year, he happily addressed the delegates of the PECC GM XXII at the luncheon, sharing his insight and visions on world and regional economic...Read more...
The internet now accounts directly for upwards of 3.4 percent of GDP in many economies. About half of this comes from e-commerce and an additional 30 percent from investments in information technology infrastructure by private firms. The importance of the internet to the broader economy is set to increase in the coming years as more firms integrate technology into their business operations, and as diverse communications tools become more interconnected across most aspects of work and society. As highlighted during the PECC Singapore Conference 2015, the internet economy cuts across multiple sectors posing difficulties for effective policy-making domestically let alone internationally.
In 2014, APEC Leaders formally recognized the role of the internet economy in promoting innovative development and empowering economic participation of individuals and SMMEs (small, medium and micro enterprises) as much as for MNCs (multinational companies). They instructed Ministers and officials ...Read more...
Developments of ports and of new maritime routes are ways to better link economies of PECC and enhance connectivity that facilitates regional and international trade. In the past recent years, maritime trade has been growing, to and from PECC economies in the Asia- Pacific, for reasons of reliability, efficiency, and lower costs.
This PECC international project aims to contribute to regional policy dialogues on improving connectivity, sustainability and mutual growth for the PECC economies on both sides of the Pacific that are seeking to develop new routes and enhance port operations to meet the increasing demand for maritime trade through the Pacific and Indian Oceans.
Representatives from government agencies, relevant institutions and businesses from PECC economies, who are responsible for the development of maritime trade in the Asia-Pacific region such as sea transport companies, port operators, designers and builders of vessels, dredging and port construction companies, ha...Read more...
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PECC Update for APEC SOM3 2015 | Cebu, Philippines | September 2015
PECC Statement for APEC Ministers Responsible for Trade (MRT) | Boracay, Philippines | May 2015
PECC Update for APEC SOM2 2015 | Boracay, Philippines| May 2015
Symposium on the Internet Economy | Boracay, Philippines | May 2015
State of the Region 2014-2015 (pdf, 500KB)
Addressing the Costs of Data Localization Requirements – Can APEC Lead the Way?
Ed Brzytwa, Information Technology Industry Council
TPP Now in Sight
Gary Clyde Hufbauer, Peterson Institute for International Economics
APEC and FTAAP: Three Pathways and Six New Members
Malcolm Cook, Senior Fellow, Institute of Southeast Asian Studies
Back to Canberra: Founding APEC
Andrew Elek, Australian National University