APEC 2015 kicks off

MANILA, Philippines - With the theme “Building Inclusive Economies, Building A Better World,” the Philippines’ hosting of the Asia-Pacific Economic Cooperation (APEC) summit next year will focus on the need to make the people of member-countries part of economic growth rather than wait for it to trickle down, President Aquino said yesterday.

Speaking at the launching of the APEC 2015 logo and theme, Aquino said the first visitors for the summit would arrive in the country next week, and gave assurance that the government would ensure the success of its hosting.

The event was highlighted by the appearance of a boy in yellow shirt and blue shorts flying a virtual kite – with the colors of the flag – on the walls of the venue in Makati City, then moving towards Aquino on stage to press the button revealing the logo and theme.

The APEC meetings will be held in Metro Manila, Boracay and Iloilo City in Western Visayas, Tagaytay City in Southern Tagalog, Metro Cebu in Central Visayas, Bagac, Bataan and Clark, Pampanga in Central Luzon; and Legazpi City, Albay in Bicol.

“This gathering’s significance is magnified when one considers that, in a world where many economies are reeling from uncertainty, Asia-Pacific economies have, for the large part, sustained a relatively good level of growth,” Aquino said.

“In fact, Southeast Asia in particular has been identified as one of the world’s most promising regions. It is for this reason that the Philippines has chosen to orient this year’s APEC towards making certain that this growth has tangible effects on the lives of all our peoples,” the President said.

According to Aquino, this explains the theme: “Building Inclusive Economies, Building A Better World” as he expressed confidence that with the country’s remarkable turnaround in recent years, the Philippines’ story and experiences could certainly enrich the discussions on this topic.

“Since our administration took office, the Philippines has undergone a significant transformation. Guided by the belief that an empowered private sector is the best engine for growth, we have worked in constant pursuit of a macroeconomic environment more conducive for investments,” Aquino said.

Today, the major fiscal foundations are in place, and will help to attract even more businesses to set up shop and expand in the Philippines, Aquino said, adding the world’s major credit ratings agencies had manifested their confidence by unanimously granting the country investment grade ratings last year.

“When we last hosted APEC, the Philippines was considered one of the world’s most promising economies. In the span between then and now, however, there were moments when many of us wondered if our country’s potential had been completely squandered by self-serving leadership,” he said.

“Thankfully, the Filipino persevered. Today, I am proud to say that, in the past four years and five months, with the help of our people, we have turned the corner. We have won back the recognition, the respect and the confidence of the global community,” Aquino said.