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...
Regional trade ministers gathering in Boracay for APEC should make improving the access of small companies to compete in global markets a top priority. In a survey conducted by the Pacific Economic Cooperation Council (PECC), 52 percent of respondents rated the facilitation of small and medium enterprises (SMEs) in global value chains as a top 5 priority for APEC, followed by the achievements of the Bogor Goals and the Free Trade Area of the Asia-Pacific (FTAAP); services sector reforms and liberalization; the design of trade policy in response to global value chains; and how economies can move to upgrade their participation in global value chains.
‘The emphasis on the role of global value chains reflects the changing nature of how international trade takes place,” said Mr. Eduardo Pedrosa, Secretary General of the PECC. “Being an effective exporter also requires being an efficient importer, having high barriers to trade is the worst thing an economy can do if it wants to benefit from...Read more...
PECC co-organized a Public-Private Dialogue (PPD) on Services with the APEC Business Advisory Council (ABAC) of the Philippines in Boracay, Philippines on May 17th, just ahead of the annual APEC ministerial meeting for trade. The purpose of this dialogue was to deepen understanding of officials on the challenges faced by service providers in the region and contribute to the issues to be included in an APEC Services Cooperation Framework, a major initiative of the Philippines this year as the APEC chair.
The approach taken in this series of Public-Private Dialogues is to understand how companies operate their value chains in the region – some of this involves analytical work as well as hearing directly from service providers.
PPD on Services that took place in Clark, Philippines in February 2015 on the margins of the First Senior Officials' Meeting (SOM1) of APEC, covered information technology and business process management (IT-BPM), creative industries, and reserach and development ...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...
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)
Back to Canberra: Founding APEC
Andrew Elek, Australian National University