What are we getting out of hosting the APEC?
We do not measure the benefits of hosting the Asia Pacific Economic Cooperation conference, that we hosted, only in terms of pesos and dollars. There have been many far-reaching benefits and advantages that we should have gained from those few days of too much work and rather expensive and nerve-wracking preparations and implementation of very demanding and challenging activities. Many of such benefits are beyond pecuniary estimation and are bound to generate immeasurable returns on such massive investments in the years to come. The APEC also gave a tremendous boost to our tourism as the confab showcased the best that we could offer to tourists and to business visitors.
First of all, the thrust of APEC is more economic, rather than political, neither political nor military and not security matters. That is why a few weeks before the APEC conference, top level diplomats from the Peoples' Republic of China came over in order to make sure that the host country should not raise in plenary the territorial dispute involving the South China Sea. President Xin Jin Ping and President Aquino were seated side by side, our president never mentioned Spratlys nor Bajo de Masinloc to Comrade Xin. It should be stressed that APEC has been founded in 1989 principally aimed at promoting free and open economic intercourses, trade and investments among the member states and member economies.
In fact, the twenty-one component members are not referred to as states, neither nations nor countries because both Taiwan and Hong Kong are recognized as bona-fide card-bearing members. It should be emphasized that because of the generally-accepted principle in international law, known as the ONE-CHINA POLICY, Taiwan is not deemed as a separate sovereign state. The mainland China would vigorously object to Taiwan being recognized as a distinct and separate nation because the Peoples' Republic of China considers Taiwan merely as a province of the mainland. Also, everyone concurs that Hong Kong is not a state. Thus, all the 21 members are referred to as economies.
Therefore, APEC is not the proper forum for discussing political matters nor issues of territorial and security implications. The last APEC tackled only the CEBU ACTION PLAN, which was a document formulated by the senior ministers who met earlier this year in Cebu City to formulate the action plan for FINANCIAL INTEGRATION. Also tackled was the BORACAY ACTION AGENDA, which the senior leaders of the 21 economies agreed on in Boracay for the promotion of integrated support for micro, micro and small industries. That is why about 7,000 business and economic leaders were attending the APEC and met among themselves to forge bilateral and multi-lateral agreements related to commerce, trade, investment.
And so, what did we really got from APEC. There are many. Those two crucial days have demonstrated to all our 21 visitors and their respective economies that our country is largely peaceful, contrary to the general impression that has been created in some territories dus to the begative publicity generated from some cases of terrorisms in the south and a few instances of kidnapping foreigners in Dava, Basilan, Sulu and Tawi Tawi, as well as some reports of raids in the Caraga region. We also showed that there are really many things beautiful in this pearl of the orient seas. Weather is excellent. Foods are fantastic. Culture and arts are truly rich. And the people are very warm and friendly.
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