PH hopes to strike gold from Apec hosting

THE PHILIPPINE business community is hoping the country’s year-long hosting of the Asia Pacific Economic Cooperation (Apec) meetings will translate into incremental trade and foreign direct investments (FDIs) that will benefit local industries and small enterprises.

Alfredo M. Yao, president of the Philippine Chamber of Commerce and Industry, said in an interview he is hoping the Apec delegates, who have been participating in meetings since the start of the year, as well as the heads of the region’s member economies and the global CEOs will see the country as a viable supply chain hub.

The country, according to Yao, has the capacity to be a trade hub given its skilled talent pool and the availability of small enterprises, which can be tapped to provide the necessary labor, products, and services for companies wanting to set up operations in the Philippines.

The micro, small and medium enterprises (MSMEs) will be able to concretely benefit by being part of either the global value chain or the regional and international trade market, he said. The Apec meetings have been highlighting the MSME agenda and the themes of inclusive growth and sustainable businesses.

Semiconductor and Electronics Industries in the Philippines Inc. (Seipi) president Dan Lachica stressed on the need for the talks to result in concrete measures that would provide access to capital for MSMEs. This would be critical to enable MSMEs to scale up their operations against bigger competitors in the region, he said.

“The agenda looks sound. How can I argue against human capital development, building sustainable communities, regional integration and fostering MSMEs. I would like the Apec (leaders) to issue a joint position against China’s aggression in the West Philippine Sea. Internal to the Philippines, however, we need to provide access to capital for our MSMEs for ramping up,” Lachica said.

Makati Business Club executive director Peter Angelo V. Perfecto, on the other hand, is hoping for a “doable wide Apec strategy for advancing inclusive growth.” Recommendations to be adopted should “ultimately impact positively on the lives of the poor across the region.”

“Although non-binding, the fact that leaders especially from the developed countries, are able to shake hands and able to do some back channeling is already a major benefit that can be a catalyst for solutions in areas of disagreements and conflicts. We hope that our hosting of Apec will result in some incremental trade, foreign direct investments and tourism,” added Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Confederation Inc. (Philexport).

Management Association of the Philippines (MAP) president Francisco F. del Rosario Jr., for his part, said he is looking forward to results from the discussions on Asean integration, regional cooperation, trade issues and concerns, which will definitely impact on the business community.

John D. Forbes, senior advisor at the American Chamber of Commerce of the Philippines (AmCham), said his “principal expectations are that the Apec agenda will be accomplished by the 21 members and that the discussions among the leaders, together and bilaterally, will advance the progress of the Asia-Pacific region.”

He expressed hope President Aquino will include the Trans-Pacific Partnership Agreement agenda in his various bilateral meetings.

Heads of Apec member-economies are expected to adopt a declaration that will better facilitate trade and investments in the region during the culminating Apec Leaders Meeting this week.