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APEC 2015 in the Philippines APEC 2015 in the Philippines is the 27th annual gathering of world leaders. This years annual gathering is themed "Building Inclusive Economies, Building a Better World." It was held at Manila,Philippines on November 18-19, 2015. It is also the second time the Philippines has hosted this kind of event, first it was at Subic, Zambales in 1996.

History

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The Asia-Pacific Economic Cooperation, or APEC, was established in 1989.it started with only 12 members, including New Zealand, Philippines, Singapore, Thailand, Canada, United States, Australia, Brunei Darussalam, Indonesia, Japan, South Korea, and Malaysia. The APEC was formed for world leaders to sustain the momentum of market opening and economic cooperation which is important for the growth and prosperity of the Asia-Pacific region.[1]

The first APEC Economic Leader’s Meting occurred in 1993 after the discussions of Australian Prime Minister Paul Keating and U.S. President Bill Clinton invited the heads of countries from member economies on Blake Island. It was because he believed that it would help bring the stalled Uruguay Round of trades back on its track. And during the meeting, some leaders called for the continued reduction of barriers for trade and investment between the countries.[2]

World Leaders that visited PH

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Currently there are 21 members in the APEC Economies, members has a diversity in the state of their economy, some are developed while some are still developing. The members that visited the Philippines include;

Agenda

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The agenda of the Philippines' hosting of APEC 2015 is exemplified through its theme which focuses on promoting and advancing inclusive growth in the Asia Pacific region. This goal on promoting inclusive growth is divided into three stages-domestic/national, regional, and macro levels. There are also four priority set for APEC 2015; Investing in Human Capital Development, Fostering Small and Medium Enterprises’ (SMEs) Participation in Regional and Global Markets, Building Sustainable and Resilient Communities, and Enhancing the Regional Economic Integration Agenda.[3] copied content from APEC Philippines 2015; see that page's history for attribution.

Benefits

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Countries that are developing and developed both benefit from APEC. APEC helps developing economies with additional information and guidelines relating to areas that needs developing such as issues with transparency, governance, customs procedures, and financial sector reform. APEC also offers forums ranging from group meetings, seminars, and up to the Economic Leaders meetings, representatives from the member economies are given opportunities to learn new skills and practices from the other economies. Developed and developing members have the opportunity to set APEC’s agenda. APEC also strengthens the selfhood and capacity of its members as participants for economic analysis.[4] See APEC 2015.

Agreements with the Philippines

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During the APEC Economic Leaders Meeting, World Leaders have said their declarations to talk about the problems concerning the world including economic growth,prosperity, and terrorism. During this event, some wold leaders have agreed to help the Philippines and our economy.[5]

Potential Benefits/Agreements that PH received:

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  • The Philippines is on Canada's priority list for Official Development Assistance and receives support for TTP inclusion.[6]
  • Chile and the Philippines signed a memorandum of understanding on disaster risk reduction and management and a letter of intent for a joint study for free trade between Chile and the Philippines.[7]
  • Mexico and the Philippines sign agreements on tourism and the fight against illegal drugs.[8]
  • The Philippines and Papua New Guinea vowed to strengthen overall bilateral ties, particularly on improving trade, and cooperation in combating climate change.[9]
  • The Philippines and Russia agree to enhance trade and economic cooperation, and to strengthen fight against illegal drug trafficking.[10]
  • Philippines and Vietnam signed an agreement establishing a strategic defense and maritime partnership between the two countries.[11]
  • US President Barack Obama pledges "ironclad" commitment to defend the Philippines, announces the transfer of two more ships to the Philippine Navy.[12]
  • Colombia and the Philippines are in talks to increase trade relations.[13]
  • Australia and the Philippines signed the Joint Declaration on Philippines-Australia Comprehensive Partnership.[14]
  • South Korean President Park Geun-hye vows to improve the Social Security Agreement, and donates defense and disaster response equipment to Manila.[15]
  • Japan and the Philippines started talks to finalize a deal that would allow Tokyo to transfer military equipment to Manila.[16]
  • Japan announces that it is lending the Philippines P93.46-billion for a railway connecting Tutuban, Manila, and Malolos, Bulacan.[17]
  • The Philippines wants to expand economic cooperation with New Zealand in various areas, including infrastructure and public-private partnership projects.[18]
  • Taiwan and the Philippines conclude the Agreement Concerning the Facilitation of Cooperation on Law Enforcement in Fisheries Matters.[19]

Sources/References

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  1. ^ "APEC Primer | APEC Philippines 2015". apec2015.ph. Retrieved 2015-11-20.
  2. ^ "Asia-Pacific Economic Cooperation". {{cite journal}}: Cite journal requires |journal= (help)
  3. ^ "The Philippines' hosting of APEC 2015 | APEC Philippines 2015". apec2015.ph. Retrieved 2015-11-20.
  4. ^ "APEC Primer | APEC Philippines 2015". apec2015.ph. Retrieved 2015-11-20.
  5. ^ "2015 Leaders' Declaration - Asia-Pacific Economic Cooperation". www.apec.org. Retrieved 2015-11-20.
  6. ^ "No 'trash' talk in PH-Canada meeting". Rappler. https://plus.google.com/+Rappler. Retrieved 2015-11-20. {{cite web}}: External link in |publisher= (help)
  7. ^ "PH, Chile eye free trade, enhanced disaster cooperation". Rappler. Retrieved 2015-11-20.
  8. ^ "VLOG: Mexico's Peña Nieto visits PH for state visit, APEC". Rappler. https://plus.google.com/+Rappler. Retrieved 2015-11-20. {{cite web}}: External link in |publisher= (help)
  9. ^ "PH, Papua New Guinea push better cooperation on trade, climate action". Rappler. https://plus.google.com/+Rappler. Retrieved 2015-11-20. {{cite web}}: External link in |publisher= (help)
  10. ^ "PH, Russia eye better trade, joint fight vs drug trafficking". Rappler. https://plus.google.com/+Rappler. Retrieved 2015-11-20. {{cite web}}: External link in |publisher= (help)
  11. ^ "Philippines, Vietnam boost ties as China sea disputes fester". Rappler. https://plus.google.com/+Rappler. Retrieved 2015-11-20. {{cite web}}: External link in |publisher= (help)
  12. ^ "Obama vows 'ironclad' commitment to defend PH". Rappler. Retrieved 2015-11-20.
  13. ^ "Colombia: 'Big potential' for trade with PH". Rappler. https://plus.google.com/+Rappler. Retrieved 2015-11-20. {{cite web}}: External link in |publisher= (help)
  14. ^ "Australia eyes more defense, disaster response equipment for PH". Rappler. https://plus.google.com/+Rappler. Retrieved 2015-11-20. {{cite web}}: External link in |publisher= (help)
  15. ^ "Aquino vows protection of 1M Koreans in PH". Rappler. https://plus.google.com/+Rappler. Retrieved 2015-11-20. {{cite web}}: External link in |publisher= (help)
  16. ^ "Japan considers sending 'large patrol' vessels to the PH". Rappler. Retrieved 2015-11-20.
  17. ^ "PH gets P93-B Japan loan for Tutuban-Malolos railway project". Rappler. https://plus.google.com/+Rappler. Retrieved 2015-11-20. {{cite web}}: External link in |publisher= (help)
  18. ^ "PH seeks to expand economic cooperation with New Zealand". Rappler. https://plus.google.com/+Rappler. Retrieved 2015-11-20. {{cite web}}: External link in |publisher= (help)
  19. ^ "Taiwan, Philippines ink fishing agreement over disputed waters". Rappler. Retrieved 2015-11-20.
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