Friday, November 20, 2015

Foreign Affairs Secretary highlights achievements during APEC hosting November 20, 2015

From the Website of the President

Foreign Affairs Secretary highlights achievements during APEC hosting November 20, 2015

Foreign Affairs Secretary Albert del Rosario on Tuesday said the Philippines’ year-long hosting of the Asia-Pacific Economic Cooperation (APEC) has two major achievements – the agreement to a services cooperation framework and the strategy for strengthening the Asia-Pacific region’s quality growth.

In a press briefing at the International Media Center at the World Trade Center, Secretary del Rosario said the APEC Services Cooperation Framework will develop a Services Competitiveness Roadmap to improve trade and investment in the services sector over the next 10 years.

“This work is vital because we know that every USD 1 million of services exports generate 105 jobs; whereas goods exports generate only 59 jobs for the same amount. Not only (does) the services trade create new jobs but it allows people from all parts of the economy to participate in the economic and social mainstream,” he said. Del Rosario noted that in the Philippines, services account for more than 50 percent of the total gross domestic product in a given year.

Meanwhile, the strategy to strengthen quality growth was borne out of the Philippines’ leadership to expand discussions on the unique relationship between trade and development, he said.

“We considered that one of the key ways to achieve quality economic growth is through good governance measures,” del Rosario said.

“The strategy focuses on institution building through governance, social cohesion and environmental impact of economic activities as key accountability areas for each economy. It underscores how quality growth is not just about the economic well-being of every individual and of every economy but also about how growth can be sustained over the medium to long term through a whole of economy approach.”

The strategy, he said, will enable the APEC’s development agenda to come to full fruition.

Del Rosario also expressed his gratitude to the APEC ministers who continue to support the Philippines’ chairmanship of the APEC 2015 summit. – See more at:

Office of the President Website

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