Noy off to Tokyo, Yokohama next week

MANILA, Philippines - The Department of Foreign Affairs (DFA) announced yesterday that President Aquino is set to leave next week to attend his first Asia Pacific Economic Cooperation (APEC) Economic Leaders Meeting in Yokohama, Japan from Nov. 12 to 15.

The DFA said Trade Secretary Gregory Domingo and Foreign Affairs Secretary Alberto Romulo would accompany the President.

Mr. Aquino will lead the Philippine delegation in actively engaging APEC member-economies to enhance the country’s leading role in the advocacy for human resources development, employment creation, addressing the social dimensions of globalization, and sustaining cooperation in economic and technical cooperation for developing economies to foster 21st century competitiveness.

The DFA said various heads of state have expressed interest to meet with President Aquino at the sidelines of the 18th APEC Economic Leaders Meeting to discuss bilateral trade and development opportunities for the Philippines.

The President will also meet members of the Filipino community in Japan, where more than a thousand Filipinos in the Yokohama region alone are expected to greet him.

With the 18th APEC Economic Leaders Meeting’s theme of “Change and Action,” APEC will build upon its past successes by proposing necessary changes and actions to ensure its continued relevance in shaping the region’s future.

APEC economies will also consider future directions for the region, taking off from a vision for a New Growth Paradigm for a changed post-crisis landscape that was adopted by leaders in 2008 in Lima, Peru.

At the 18th Economic Leaders Meeting, APEC will assess its achievements vis a vis the Bogor (Indonesia) goals of free and open trade and investments. Specifically, developed economy members of APEC shall be assessed whether they had achieved these goals. The APEC is a forum for 21 Pacific Rim countries or member-economies that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region.

Established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional economic blocs in other parts of the world, APEC works to raise living standards and education levels through sustainable economic growth and to foster a sense of community and an appreciation of shared interests among Asia-Pacific countries.

APEC members account for approximately 40 percent of the world’s population, approximately 54 percent of world gross domestic product (GDP) and about 44 percent of world trade.