From roughly 2001 till the onset of the Global Financial Crisis, commodity prices boomed largely as a result of the rapid increase in demand associated with robust growth in emerging markets. While nominal global GDP grew by 8% annually between 1964 and 2011, total commodity trade for the major minerals and metals grew significantly faster, at an annual 11%. In the more recent period 2004 to 2011, the trade value for primary commodities grew by 18% while nominal global GDP grew by 7%.
This boom was largely led by Asia’s fast-growing economies which have driven and most likely will continue to drive extractive industry markets, especially for energy, in the coming decades.
In this context, what are the key policy issues for exporting and importing economies of the products of the extractive ...
Graeme Hugo, one of Australia’s most respected demographers and intellectual, who had made valuable contributions to PECC discussions in the past, has passed away in January 2015 at the age of 68 after a short battle with cancer.
He was Professor of Geography, Director of the Australian Population and Migration Research Centre at the Adelaide University, and also an Australian Research Council Australian Professorial Fellow. His research interests ranged widely in scope that included migration, climate change, health, and living standards that have impact on population. He was an active contributor to academic and public discourse on demographic issues, shared in over 400 publications including books, journal articles, conference papers, and was a regular media commentator. He also supervised more than 50 PhD theses. He held an ARC Federation Fellowship between 2002 and 2007, and has held various positions with Federal Government agencies and committees. He was on the Australian Stati...Read more...
The Philippines, as the host of APEC in 2015, held the APEC Informal Senior Officials' Meeting (ISOM) in Manila on 8-9 December 2014 in preparation for the following year's agenda under the main theme of inclusive economic growth. On this occasion, PECC organized a media roundtable over lunch on the 12th that gathered foreign correspondents and local media representatives covering economic and trade news to discuss some of the issues on the APEC 2015 agenda and to gauge media's interest. Fact sheets on Free Trade Area of the Asia-Pacific (FTAAP) and a glossary of trade terms frequently used by PECC and APEC were distributed at the roundtable cum briefing. Undersecretary Laura Del Rosario, the Philippine senior official for APEC and incoming SOM chair from the Department of Foreign Affairs delivered opening remarks as the guest-of-honor and informed the media of the prioritized issues that were raised during the ISOM.
Ambassador Antonio Basilio (PPECC/ ABAC), Dr. Charles Mo...Read more...
Taking into consideration global needs for new sources of energy to meet the growing industrial and household demands in the midst of rising energy costs and diminishing fossil fuels, it is imperative that PECC economies invest more in developing and optimizing new types of energy. It is one of top priorities for PECC economies to explore the most efficient ways of ensuring smooth transition from fossil fuels to renewable and sustainable energy. Lessons can be learnt by sharing how PECC economies are transitioning from being high energy consumers to becoming more eco-friendly and energy-efficient.
The project aims to design the framework for new economic models that will make way for smooth energy transition; it will bring together the energy-exporting and importing economies, energy producers or distributors as well as energy-related policymakers. It will put into perspective new initiatives and strategies designed to facilitate energy transition that will be critical to achieving su...
State of the Region 2014-2015 report was released on the 7th November 2014 during the APEC Leaders' Week in Beijing through a press conference. The briefing was given by: Mr. Eduardo Pedrosa, Secretary General of PECC and Coordinator of the Report; Mr. Jusuf Wanandi (Indonesia), co-chair of PECC; and Ambassador Don Campbell (Canada), co-chair of PECC.
The State of the Region report is the flagship annual publication of PECC. It includes a survey of opinion-leaders on the priorities for Asia-Pacific cooperation and this year, 602 participated in the survey. A special chapter was dedicated to study the different pathways underway towards the creation of an FTAAP (Free Trade Area of the Asia-Pacific) including the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP), and their relationship to APEC membership.
The Asia-Pacific...Read more...
PECC Statement for APEC Ministerial Meeting 2014 | Beijing, China | November 2014
PECC Update for APEC CSOM 2014 | Beijing, China | November 2014
State of the Region 2014-2015 (pdf, 500KB)
Executive Summary from Energy Transition Seminar | Santiago, Chile | June 2014
PECC Update for APEC SOM3 | Beijing, China | August 2014
PECC Statement for APEC Ministers Responsible for Trade (MRT) | Qingdao, China | 18 May 2014
India into APEC: Three APEC reasons why
Malcolm Cook, Senior Fellow, Institute of Southeast Asian Studies