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The Evolution of APEC and its Role in Philippine Trade and Investment

Author

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  • Quimba, Francis Mark A.
  • Barral, Mark Anthony A.

Abstract

This paper presents how the Asia-Pacific Economic Cooperation (APEC) has evolved as an institution, the changes it has undergone, and the challenges it has faced for the past decades. More importantly, this paper tries to enumerate the roles of APEC in positioning the Philippines in the global economy. Anchored on the desire to promote economic growth, foster and strengthen trade, and improve the living standards in the region, APEC initiated programs focused on trade and investment liberalization, trade facilitation, and economic and technical cooperation. These initiatives help the Philippines stimulate and improve the competitiveness of its domestic producers and sectors. The economy must utilize these initiatives, backed with the upgrading of domestic facilities to meet global standards and the aligning of domestic regulations. These address behind-the-border barriers that limit the flow of goods and services and expand the coverage of businesses to overseas markets. Trade agreements in APEC also help firms gain access to cheaper inputs and more advanced technologies, which foster competition and increased productivity and growth.

Suggested Citation

  • Quimba, Francis Mark A. & Barral, Mark Anthony A., 2019. "The Evolution of APEC and its Role in Philippine Trade and Investment," Discussion Papers DP 2019-07, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:dpaper:dp_2019-07
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    File URL: https://www.pids.gov.ph/publication/discussion-papers/the-evolution-of-apec-and-its-role-in-philippine-trade-and-investment
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