Seminar on “Asia-Pacific Economic Cooperation (APEC): Advancing Regional Economic Integration amidst Growth Moderation”

The 2018 Asia-Pacific Economic Cooperation (APEC) theme is “Harnessing Inclusive Opportunities, Embracing the Digital Future”. To explain the implications of this theme and summarise the key outcomes of the recently concluded APEC Trade Ministers’ meeting in Port Moresby, the Singapore APEC Study Centre at ISEAS – Yusof Ishak Institute organised a seminar with key speakers Dr Denis Hew and Mr Emmanuel A. San Andres from the APEC Policy Support Unit, and Mr Benjamin Tan from Singapore’s Ministry of Trade and Industry.

SINGAPORE APEC STUDY CENTRE
Monday, 9 July 2018 – The 2018 Asia-Pacific Economic Cooperation (APEC) theme is “Harnessing Inclusive Opportunities, Embracing the Digital Future”. To explain the implications of this theme and summarise the key outcomes of the recently concluded APEC Trade Ministers’ meeting in Port Moresby, the Singapore APEC Study Centre at ISEAS – Yusof Ishak Institute organised a seminar with key speakers Dr Denis Hew and Mr Emmanuel A. San Andres from the APEC Policy Support Unit, and Mr Benjamin Tan from Singapore’s Ministry of Trade and Industry.


From left to right: Dr Denis Hew, Mr Emmanuel A. San Andres, Dr Siwage Dharma Negara, and Mr Benjamin Tan (Credit: ISEAS-Yusof Ishak Institute)

Following the introductory remarks by Dr Siwage Dharma Negara, Coordinator of the APEC Study Centre, Dr Hew presented a detailed analysis of some of the major economic trends in the region. Based on a recent report published by the APEC Policy Support Unit, he spoke about the overall growth witnessed in the areas of commercial services, industrial production and trade among member economies. Dr Hew also highlighted some of the concerns regarding decline in global FDI inflows and uncertain trade policy directions. Mr San Andres continued the discussion, specifically focussing on the importance of inclusive economic growth amidst growing sentiments of protectionism and anti-globalism. In his presentation, he also touched upon the objectives of the APEC Vision Group and some of the policy implementation challenges that lie ahead.


Dr Denis Hew, from the APEC Policy Support Unit, during his presentation (Credit: ISEAS-Yusof Ishak Institute)


Mr Emmanuel A. San Andres is also from the APEC Policy Support Unit (Credit: ISEAS-Yusof Ishak Institute)


Mr Benjamin Tan from Singapore’s Ministry of Trade and Industry (Credit: ISEAS-Yusof Ishak Institute)

Mr Tan then drew the audience’s attention to the main discussion points of the APEC Trade Ministers Meeting held in Port Moresby, Papua New Guinea (PNG) on 25 and 26 May 2018. He mentioned that all member economies were keen on improving connectivity, deepening regional economic integration, promoting sustainable and inclusive growth and strengthening technical cooperation. An important outcome of the meeting was that PNG Foreign Affairs and Trade Minister, Rimbink Pato (chairperson) also issued a statement supporting a multilateral trading system.


An audience of 30 people attended the seminar (Credit: ISEAS-Yusof Ishak Institute)

The seminar lasted for ninety minutes, and was attended by an audience of thirty people, including research scholars, students and members of the public. The guest speakers also answered their questions on an array of topics, including: the impact of the trade war between the US and China, structural changes occurring in the APEC member economies, labour policy and job losses, and commitments made under the Bogor Goals.