PRESIDENT Benigno S. Aquino III will travel to Vladivostok, Russia, next week to join the 20 other world leaders attending the 20th Asia-Pacific Economic Cooperation (APEC) Leaders’ Summit on September 8 to 9.
This year’s APEC summit, which has for its theme “Integrate to Grow, Innovate to Prosper,” is hosted by the Russian Federation.
President Aquino will be joined by Foreign Affairs Secretary Albert del Rosario, Trade and Industry Secretary Gregory Domingo and Finance Secretary Cesar Purisima.
During the APEC Economic Leaders’ Meeting (AELM), the leaders will discuss four priorities namely: trade and investment liberalization and regional economic integration, strengthening food security, establishing reliable supply chains, and cooperation to foster innovative growth.
Undersecretary for International Economic Relations Laura del Rosario of the Department of Foreign Affairs said the President will also participate in the APEC Business Advisory Council (ABAC) Dialogue with the Leaders, a key feature of the AELM.
The APEC Business Advisory Council Dialogue gives ABAC members the opportunity to meet with the APEC leaders to discuss the entire year’s ABAC work program and to raise issues of pressing concern to the business community.
ABAC Philippines will be represented by A. Magsaysay Inc. president and chief executive officer Doris Magsaysay, Jollibee Food Corp. Chairman and CEO Tony Tan Caktiong, and Ayala Corp. chairman and CEO Jaime Augusto Zobel de Ayala.
Undersecretary Del Rosario also said that during the 20th APEC Summit in Vladivostok, President Aquino will also be holding bilateral meetings with other countries.
Del Rosario also said that during this summit, the announcement of the Philippines’ hosting of the APEC summit in 2015 is expected through the APEC Leaders’ Declaration.
APEC is an organization of economies in the Asia-Pacific region. It is the premier forum for facilitating economic growth, cooperation, trade and investment in Asia-Pacific region.
It has 21 members which account for approximately 40 percent of the world’s population, approximately 54 percent of the world gross domestic product and about 44 percent of world trade. (PCOO/I-ed)