Eliminating trade barriers in energy sector
‘We hope we can learn from each other, harness each other’s strengths and pave the way for greater collaboration among our nations to ensure greater energy resiliency and security’
MEMBER economies of the Asia Pacific Economic Cooperation (Apec), in both government and private sector levels, need to collaborate more in facilitating investments and eliminating trade barriers in the energy sector, according to Ayala chair and CEO Jaime Zobel de Ayala.
Greater collaboration is also deemed necessary in preparing for the common challenge of climate change and its impact on Apec societies, he added.
Addressing the energy ministers and private sector representatives from the 21 member economies of the Asia Pacific Economic Cooperation (Apec) member economies during the 12th Apec Energy Ministers’ Meeting (EMM12), Zobel shared his ideas on how each Apec economy could help facilitate an attractive environment for cross-border trade and investments in energy.
“We can all benefit from greater regional cooperation in coming up with solutions,” said Zobel, who spoke on behalf of the private sector in identifying measures to facilitate investments and eliminate trade barriers in the energy sector.
Zobel said efficient and free flow of energy sector inputs particularly capital goods such as equipment and machinery, and fuels, sharing of technical knowledge in research and development work to address energy sufficiency issues and more cross-border investments were essential in preparing for the “common challenge of climate change and its impact on all our societies.”
“We hope we can learn from each other, harness each other’s strengths and pave the way for greater collaboration among our nations to ensure greater energy resiliency and security,” he added.
The EMM12 also included an Energy Ministers—CEO Special Dialogue led by Philippine Energy Department OIC and EMM12 Chair Zenaida Monsada and Apec Business Advisory Council chair Doris Magsaysay-Ho, who presented the key insights gathered from the CEO roundtable discussions.
Attending the event were the energy heads of the different countries in the region including US Deputy Minister for Energy Elizabeth Sherwood-Randall. Representing the private sector were AC Energy Holdings Inc. president John Eric Francia, Aboitiz Equity Ventures president and CEO Erramon Aboitiz, Energy Development Corp. president and COO Richard Tantoco, Singapore Power Group managing director Jeanne Cheng, and International Finance Corp. Philippines country manager Jane Xu, among others.
The meeting, held in Mactan, Cebu on Oct. 12-13, outlined the role of technological innovation in shifts that defined a significantly different energy sector. The discussion points revolved around the following: maximizing renewable energy potential, promoting resilient energy infrastructure, mobilizing partnerships for sustainable energy and energy efficiency, adopting clean technologies for energy security, and measures to facilitate investments and eliminate trade barriers.
