Services Coalition launched to ensure Inclusive Growth among APEC economies

One of the highlights of the Structural Reform Ministerial Meeting (SRMM) on September 7-8 is the Regional Conference of Services Coalitions with the theme “Charting a New Course on Services: A Call to Action in APEC” that was held in Radisson Blu Hotel, Cebu City, Philippines.

“This session stressed on the importance of cooperation and coalition-building, which is one of the main objectives for this Conference, in order to forge a stronger collaboration between and among APEC economies and the private sector,” said Deputy Director General Emmanuel Esguerra, Convenor of APEC Group on Services.

To build inclusive growth among APEC economies, the APEC Services Coalition was launched during the SRMM. The Coalition seek to provide a voice to multi-stakeholders in the service sector, promote opportunities, and the necessary measures to be taken to advance the Services sector.

As part of the Global Value Chain (GVC), the Service Sector plays a huge part in advancing the regional growth among APEC economies. Discussion of the increasing importance of service sector and its contribution to the growth within APEC economies, the need for Structural Reform, and the challenges and issues faced by the Service sector and how APEC can address these issues.

In line with greater regional economic integration, discussion on how to promote an enabling environment to improve Trade and Services was also discussed by Economic Ministers of the 21 APEC member states.