INTERNATIONAL BUSINESS
INGENIEUR
APEC SERVICES
CO-OPERATION
FRAMEWORK 2015
By Chua Foong Lean
At the 22nd APEC Meeting in Beijing in 2014, leaders in the
Asia-Pacific Economic Co-operation (APEC ) endorsed the APEC
Strategic Blueprint for promoting Global Value Chain Development
and Co-operation. In addition, they endorsed the APEC Connectivity
Blueprint 2015-2025 as appeared in the Volume 61 of The
Ingenieur.
At the 23rd APEC Economic Leaders Meeting on November 19,
2015 in Manila, APEC leaders adopted the APEC Services Cooperation Framework. This is a strategic approach for the efficient
development and delivery of services as a major aspect of
economy.
The APEC Leaders acknowledged that international trade in
services facilitates cross-border business activity, reduces costs,
spurs innovation, boosts competition and productivity, raises the
standard of domestic services suppliers, and widens the range
of choice for consumers. They also acknowledged that trade in
services has an enormous potential for creating jobs, and for
increasing competitiveness in the global market, providing wholeof-economy benefits. However, inclusive growth cannot be achieved
without addressing services-related issues, as many micro, small,
and medium enterprises operate in this sector.
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VOL65
55JANUARY
JUNE 2013