On occasion of the XXIII Asia Pacific Economic Cooperation Forum (APEC) Summit, was held today the “Informal Dialogue between the Pacific Alliance (AP) & APEC”, which was co-chaired by the President of Peru, Ollanta Humala, as President Pro Tempore of the Pacific Alliance and the President of Philippines, Benigno Simeon Aquino III, Chair of APEC. Also attended the Presidents of Chile, Colombia and Mexico, and the leaders of APEC.
The meeting aimed at discussing opportunities in the agendas of both mechanisms, and represents for the Pacific Alliance an opportunity to boost its global projection, with special emphasis on Asia, a goal of said integration process.
During the meeting progress of each of the regional economic integration processes was analysed, their similarities were examined, a wide range of issues covered by each process were highlighted. Similarly, opportunities for collaboration were discussed.
APEC is the largest multilateral economic forum of economic and political importance in the Asia-Pacific. Created in 1989 its main objective is to support sustainable economic growth and prosperity for the Asia-Pacific region. Its 21 member economies are Australia, Brunei Darussalam, Canada, Chile, China, Korea, USA, Philippines, Hong Kong-China, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Russia, Singapore , Taipei China, Thailand, and Vietnam. APEC economies represent the 56% of world production and the 46% of global trade.
It should be noted that Australia, Canada, China, Korea, USA, Indonesia, Japan, New Zealand, Singapore, and Thailand, are both APEC members and observer states of the Pacific Alliance.
The Pacific Alliance is the regional integration initiative formed on April 2011 by Chile, Colombia, Mexico, and Peru. It represents the eighth world economy, accounting for 37% of gross domestic product and 52% of foreign trade in Latin America and the Caribbean.
Philippines, November 18th – 2015