Aquino to discuss business cooperation initiatives at Apec summit

President Benigno Aquino III. INQUIRER FILE PHOTO

MANILA, Philippines – President Benigno Aquino III would lead the country’s delegation at the 2012 Asia Pacific Economic Cooperation Summit (Apec), in which he is expected to discuss business cooperation initiatives with other member states.

The summit would be held from September 2 to 9 in Russky Island, Vladivostok, Russia under the motto “Integrate to Grow, Innovate to Prosper.”

In a statement, the Department of Foreign Affairs (DFA) said Aquino would be attending the 20th Apec Economic Leaders’ Meeting (Aelm) on September 8 and 9, in which the leaders were expected to discuss the four priorities set by the Russian host: namely, trade and investment liberalization and regional economic integration, strengthening food security, establishing reliable supply chains, and  cooperation to foster innovative growth.

It said that  Foreign Affairs Secretary Albert F. del Rosario, Trade and Industry Secretary Gregory L. Domingo and Finance Secretary Cesar V. Purisima would be joining Aquino in the delegation.

The statement also noted that Aquino would also be participating in the summit’s Apec Business Advisory Council (Abac) Dialogue with Leaders, in which its members were expected to “raise issues of pressing concern to the business community.”

It said that with the theme “Aspirations to the Reality,” Abac aims to bolster its programs by focusing on regional economic integration, entrepreneurship and sustainable growth, transportation and logistics, technology transfer, and green development and eco-cities.

“Abac Philippines is represented by A. Magsaysay Inc. President and Chief Executive Officer (CEO) Doris Magsaysay Ho, Jollibee Foods Corporation Chairman and CEO Tony Tan Caktiong, and Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala,” it said.

It also noted that the APEC has 21 members or member economies, accounting for approximately 40 percent of the world’s population,  54 percent of world gross domestic product (GDP) and  44 percent of world trade.

“It is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region,” it said.