President Marcos pushes for inclusive, future-ready APEC

GYEONGJU — President Marcos yesterday pushed for measures aimed at making the Asia-Pacific region inclusive and future-ready as it faces challenges brought about by a changing economic environment.

In his intervention during an informal dialogue with fellow Asia-Pacific Economic Cooperation (APEC) leaders, Marcos said the global economy’s stability is being challenged by intensifying geopolitical tensions, technological disruptions, supply chain vulnerability, protectionism and “unwarranted economic competition.”

The region is also facing a period “where policymaking in itself is also being challenged,” he added.

“For the Philippines, we do recognize that the global economic environment has changed. We face challenges now that may not have been contemplated or foreseen when our rules-based system was conceptualized – thus, the need for us to be responsive, dynamic and forward-looking,” Marcos said.

“As we grapple to address these challenges, let us not lose sight of our objectives to bring growth, inclusivity and sustainability to our region, as well as the core principles of openness, non-discrimination and transparency.”

Marcos called for deeper regional economic cooperation, saying APEC’s enduring strength lies in its capacity to bridge differences, build capacities and foster trust. He gave assurance that the Philippines is ready to work with all APEC economies and partners to uphold an “open, connected and future-ready region” that remains resilient both in times of uncertainty and in the pursuit of shared prosperity.

“Through deeper regional economic integration, we can help each one of us, large or small, adapt, innovate and prosper together,” the Chief Executive said. “As we move forward, let us deepen regional cooperation, accelerate structural reform and scale up targeted capacity building efforts.”

Marcos called on APEC economies to work together in prioritizing the full restoration of the dispute settlement mechanism and the Appellate Body at the World Trade Organization.  

“Without a functioning dispute settlement mechanism, small economies would be at a disadvantage,” he added.

The President likewise urged members of the economic bloc to prioritize negotiations in agriculture and move forward the second wave of negotiations of the Fisheries Subsidies Agreement. The move would help ensure that trade remains “a force for sustainability and shared progress,” he said.

Marcos also pushed for smarter and more sustainable supply chains through regulatory reforms, digitalization and skills development to deepen regional connectivity.

He pointed out that streamlining rules, investing in digital infrastructure and platforms and equipping micro, small and medium enterprises and workforce with the skills and tools they need to compete globally would allow APEC economies to secure collective resilience and ensure inclusive growth. 

He welcomed the work under the proposed new services agenda, as a successor to the APEC Services Competitiveness Roadmap. The agenda builds on the long-term vision of the APEC Services Cooperation Framework that the Philippines advanced during its hosting of the economic bloc’s summit in 2015.

“Through cooperation, regulatory transparency and capacity building, we can ensure that the benefits of growth extend across all service sectors, powered by digital transformation and the responsible use of AI (artificial intelligence),” the Philippine leader said.

Public-private collaboration

Noting that the world grapples with defining challenges, Marcos emphasized the importance of a strong public-private collaboration, calling it an “essential ingredient” of resilience and sustained growth.

“We should sustain the energy and creativity of our private sector whose innovation and entrepreneurship are central to achieving inclusivity and prosperity,” he added.

The President cited the enactment of the Public-Private Partnership Code of the Philippines in 2023, which provides the policy and institutional framework for collaborations that deliver high-impact infrastructure and social development projects.  

“Within APEC, we can build on this momentum by strengthening the platforms for dialogue between the public and private sectors, ensuring that business perspectives shape our regional strategies and initiatives,” he said.  

APEC economies, Marcos added, must work together with the APEC Business Advisory Council to develop frameworks to address gaps in infrastructure investment for energy security, energy transition and digital transformation. 

According to him, the Philippines sees the business community as a kabalikat or steadfast partner in building a more connected and resilient APEC region.

Marcos also highlighted the need to close the gender gap, saying it is not only a matter of fairness, but “smart economics.” He said empowering women to participate fully in the economy could add as much as $28 trillion to the global gross domestic product, making it the most critical investment for sustained growth.  

“We encourage actions to alleviate gender pay gaps and enable the full participation of women in the economy,” he said. “To be truly connected and resilient, we must also strategically invest in our people, especially in women and youth, who are important players in ensuring social and economic stability.”

The President also welcomed the “Incheon Plan” under the APEC Finance Ministers’ Process, which is designed to address emerging challenges through adaptive fiscal policies, strengthened climate resilience mechanisms and modernized regulatory frameworks.