Imagen: Presidencia Perú

The most relevant things about the APEC Forum 2024

This meeting seeks to promote cooperation on key issues such as trade, economic formalization and inclusive development, in a context of growing geopolitical tensions between the United States, China and Russia. Peru joined the forum in 1998 and has been host in 2008, 2016 and 2024. This week, Lima received delegations from 19 economies from the APEC forum, with the participation of 16 heads of State or Government. This meeting aimed to promote cooperation on key issues such as trade, economic formalization and inclusive development, in a context of growing geopolitical tensions between the United States, China and Russia. WHICH COUNTRIES INCLUDE APEC 2024? The Asia Pacific Economic Cooperation Forum is made up of 21 economies: Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore; Taipei-China, Thailand, the United States and Vietnam. What is the APEC forum and why is it relevant? Founded in 1989, the Asia-Pacific Economic Cooperation (APEC) promotes economic cooperation and growth in a region characterized by its diversity. Currently, it is made up of 21 economies and represents a third of the world's population, 54% of global GDP and 44% of international trade. Its dialogue structure allows its members to share ideas and establish recommendations without compromising the sovereignty of each economy. Main topics of discussion at APEC 2024 This year, the summit is organized under the motto “Empower, include, grow”, themes proposed by Peru as host. The agenda focuses on: State of emergency extends for 45 more days in Metropolitan Lima and Callao: Curfew on Christmas and New Year? You may be interested in: State of emergency extends for 45 more days in Metropolitan Lima and Callao: Curfew on Christmas and New Year? Inclusive growth: policies that ensure that economic development benefits the entire population. Digitalization and economic formalization: strategies to reduce economic informality in the region, with the support of digital technologies. Sustainability: initiatives that promote resilient and environmentally friendly growth. The activities began with the meeting of the Business Advisory Council (ABAC) and will continue with a dialogue on economic empowerment for indigenous peoples, a ministerial meeting and the central meeting of leaders, which will conclude on November 16. Historical achievements and current challenges of the forum Since its inception, APEC has promoted several reforms in its member economies. Peruvian Foreign Minister Elmer Schialer highlighted that the average tariff among APEC members went from 16.9% in 1989 to 5.3% in 2017. Likewise, the number of free trade agreements went from 20 to 175 in that period. . In recent years, APEC has faced new challenges, such as trade tensions, the pandemic and the climate crisis. These issues have led to the update of its agenda in 2020, in the Putrajaya Vision 2040, which includes issues of digitalization, inclusive trade and sustainable development. Key initiatives approved During the summit, APEC has adopted several measures to achieve its objectives, including: A policy guide to encourage low-emission hydrogen development in the Asia-Pacific. Principles to reduce food loss and waste, contributing to food security. Goals for the economic empowerment of people with disabilities. Proposals for a fair and sustainable energy transition, in addition to strengthening sustainable finances in the forum's economies. Global impact of the forum. China and the USA The presidents of the United States, Joe Biden, and of China, Xi Jinping, will hold their last confrontation this Saturday in Lima before Donald Trump returns to the White House and shakes up the geopolitical board. Both leaders, and also rivals, anticipate the return of the Republican magnate as a period of change and turbulence. The face-to-face dialogue between Biden and his Chinese counterpart will be the third between the leaders of the two largest economies. It is “an important opportunity to mark the progress we have made in the relationship,” said White House National Security Advisor Jake Sullivan. Likewise, Biden and Xi will participate in the G20 summit next Monday and Tuesday in Brazil.

2024-11-27 19:51:26