APEC scholarship initiative allows cross-border education

CLARK FREEPORT, Philippines – Students and professionals across the Asia-Pacific can now have greater access to cross-border education and internships in the region with the Scholarship and Internship Initiative (SII) launched at the Asia-Pacific Economic Cooperation (APEC) forum here.

APEC said the SII aggregates sponsor study and career development exchanges offered by universities and companies in APEC member-economies.

The SII also supports the creation of new opportunities by facilitating coordination among governments, higher learning institutions and companies in the region.

Universities and companies interested in sponsoring an undergraduate or graduate level scholarship, or an internship or training program for a student or professional, can inquire with participating APEC economies.

Applications are being accepted through an online portal, which APEC senior officials opened during their two-day meeting that ended Saturday here.

“APEC and the private sector are opening the gates of opportunity to provide more of the region’s three billion people the knowledge, skills and experience they need to thrive in a 21st century marketplace,” said John Kerry, Secretary of State of the United States that is leading the SII’s development.

The SII was first introduced during a meeting of APEC trade ministers in Qingdao, China in May last year and it was endorsed by the region’s leaders in November in Beijing.

“Our goal is to maximize opportunities afforded by globalization to strengthen people’s employability and earning potential,” explained Allan Bollard, executive director of the APEC secretariat.

“We are particularly intent on empowering youth and women to narrow economic inequalities and drive new growth,” he added.

The SII is seen to bring APEC economies to an important step closer to realizing their target of one million intra-APEC university-level students annually by 2020, advancing these overarching objectives. Set in 2013, it would represent an estimated 25 percent increase compared to existing levels.

“Broadening access to education, training and skills is needed to mitigate the threat of skilled labor shortages due to unfolding demographic changes around the Asia-Pacific, namely aging populations and lower birthrates. Candidates with overseas experience are in many cases viewed more favorably by firms seeking future leaders with a global outlook,” said Bollard.

“At the end of the day, nurturing a more highly skilled and mobile workforce is good for people’s career development, it’s good for employers and it’s good for growth… Economic empowerment promotes a virtuous cycle of greater productivity, the creation of higher quality, higher paying jobs and more prosperous and equitable societies which is what we are all aspiring to achieve,” he added.