Washington D.C., 20 May 2023 (TDI): The United States (US) has announced its role as the host for the upcoming Asia-Pacific Economic Cooperation (APEC) Forum 2023 next week in Detroit. This significant event underscores the commitment of the US to promoting free, fair, and reciprocal trade in the Asia-Pacific region.
Under the theme of “Creating a Resilient and Sustainable Future for All,” this meeting will bring together esteemed government officials, influential business leaders, and other key stakeholders to engage in constructive discussions concerning vital priorities and challenges facing the APEC region.
Building on the success of previous host years, the US will follow Thailand’s theme of open, connect, and balance and continue the momentum set by Malaysia’s Putrajaya Vision 2040 and New Zealand’s Aotearoa Plan of Action. APEC 2023 also aligns with the Putrajaya Vision’s drivers of inclusive growth: trade and investment, innovation and digitalization, and strong, balanced, secure, sustainable, and inclusive growth.
This year will also contribute to the implementation of the Aotearoa Plan of Action and the Bangkok Goals, which aim to realize an open, resilient, dynamic, and peaceful Asia-Pacific community by 2040.
Comprising 21 member economies, which collectively represent nearly 40 percent of the global population and nearly 50 percent of global trade, APEC provides a vital platform for collaboration and cooperation on economic issues. As of 2021, APEC members accounted for over 60 percent of US goods exports, underscoring the importance of this forum in advancing trade and prosperity.
As the host, the US is excited about the unique opportunity to showcase its economic leadership and multilateralism in the Indo-Pacific and demonstrate the direct impact of international economic engagement on prosperity within the US.
Read more: US, Japan celebrate trade wins ahead of Tai visit
Throughout the APEC host year in 2023, the US will focus on further enhancing economic engagement with the region. Regular exchanges among governments, business leaders, and stakeholders, including the APEC Business Advisory Council (ABAC), will play a crucial role in delivering pragmatic solutions to the key challenges faced by US workers and businesses, both domestically and within the region. The priorities for APEC 2023 include:
Interconnectedness
Building a resilient and interconnected region that advances broad-based economic prosperity. Key focus areas will encompass strengthening supply chain resilience, enhancing services trade, promoting digital trade, restarting cross-border travel, enhancing infrastructure and transportation networks, strengthening health systems, supporting the implementation of the FTAAP Agenda Workplan, and advocating for the World Trade Organization (WTO).
Innovation
Enabling an innovative environment for a sustainable future. Areas of particular focus will include enhancing climate mitigation and resilience, reducing disaster risk, promoting the digital economy and digitization, ensuring food security, safety, and agricultural biotechnology, tackling environmental challenges, and fostering an enabling environment for innovation.
Inclusiveness
Affirming an equitable and inclusive future for all. Priorities encompass advancing gender equity, strengthening small and medium-sized enterprises (SMEs), addressing inclusion in trade, expanding economic potential and opportunity through investments in infrastructure and workers, elevating workers’ voices, and engaging historically underserved and underrepresented segments of the population.
Also Read: United States Hosts Azerbaijan-Armenia talks on Diplomatic Crisis
Throughout the APEC calendar in 2023, the US will hold senior officials meetings and related events in Palm Springs, California; Detroit, Michigan; and Seattle, Washington, culminating in the APEC Leaders’ Week in San Francisco, California, in November. These gatherings will facilitate over 1,500 delegates from the APEC region and provide a platform for dialogue, workshops, and stakeholder engagement.
Through this meeting, the US seeks to strengthen economic ties, promote cooperation, and drive prosperity in the Indo-Pacific region and beyond.
