As the 2024 APEC Economic Leaders' Week begins, the world's attention turns to Peru, where President Dina Boluarte will welcome her counterparts to Lima this week.
Under the theme, Empower. Include. Grow, senior officials, ministers and leaders from APEC's 21 member economies-an economic forum that boasts almost two-thirds of world GDP and half of global trade-will tackle core challenges facing the Asia-Pacific region, including climate change, sustainable energy solutions, digital economy transition, and trade facilitation. Leaders and ministers will discuss policies that could help economies overcome these current challenges while promoting innovation and inclusiveness.
Priority areas of focus will cover:
- Trade and investment for inclusive and interconnected growth: Creating the conditions necessary for trade to become more open, equitable, transparent, and inclusive, fostering growth and prosperity.
- Innovation and digitalization to promote the transition to a formal and global economy: Harnessing digital technology to empower vulnerable economic actors in their transition from informal to formal participation in the global economy.
- Sustainable growth for resilient development: Intensifying efforts to advance a just energy transition by promoting renewable and clean energy sources and bolstering food security.
"As this year's host, Peru has an invaluable opportunity to steer the dialogue towards issues that resonate with people in the region, focusing on sustainability, resilience and digital inclusion," explained Ambassador Carlos Vasquez, Chair of the 2024 APEC Senior Officials. "Hosting APEC underscores Peru's commitment to strengthening multilateral partnerships and reinforces its role as a key player in setting the agenda for the Asia-Pacific."
"Our efforts to drive both trade and investment, alongside a growth-focused agenda in APEC, are building momentum," Ambassador Vasquez noted. "APEC members understand that fostering new norms and economic policies can drive inclusiveness and establish impactful programs that meet the everyday needs of our communities."
APEC's commitment to collaboration, along with the strategic focus on resilience and sustainable growth, sets the stage for meaningful outcomes that address the needs of the Asia-Pacific region's three billion people.
"Our economies are a complex network with many interconnected parts, so we can't focus on just one area while setting others aside," Dr Rebecca Sta Maria, executive director of the APEC Secretariat said. "We need to ensure that every part is running smoothly and consider all the moving pieces together."
Under the guidance of President Boluarte, the week will conclude with the APEC Economic Leaders' Meeting on 15-16 November, where directions for future collaboration among APEC member economies will be established. This will follow the APEC Ministerial Meeting on 14 November, co-chaired by Foreign Affairs Minister Elmer Schialer and Foreign Trade and Tourism Minister Desilú León.
Indigenous peoples will also have a voice in the conversation, as ministers meet with their representatives on 13 November to explore inclusive growth and economic empowerment from their perspectives.
On 11-12 November, the APEC senior officials will meet to finalize initiatives aimed at boosting trade and growth, as well as shaping the framework for joint policy development and implementation. The region's outlook will be assessed in the APEC Policy Support Unit's latest Regional Trends Analysis report, set for release on 12 November. This report will provide the foundation for the week's policy discussions.
The business community is also involved. The 2024 APEC CEO Summit, organized by the private sector, is an open dialogue between regional leaders and business heads. It will take place on 14-15 November, coinciding with the APEC Economic Leaders' Week. The APEC Business Advisory Council will meet on 10-12 November and will engage in a dialogue with APEC leaders on 15 November.
Additionally, the APEC Small and Medium Enterprise Summit, scheduled for 13 November, will address the unique opportunities and challenges facing this sector.
Hosting APEC for the third time after 2008 and 2016, Peru has been the venue for more than 270 working meetings throughout 2024 in Lima, Arequipa, Pucallpa, Trujillo, and Urubamba. Each meeting has produced deliverables or key documents that evidence consensus among APEC's 21 member economies. These will set the framework for the forum's continuing agenda.
