Boracay, The Philippines, May 15, 2015–The Asia-Pacific Economic Cooperation (APEC) Committee on Trade and Investment (CTI) started meeting at Shangri-La’s Boracay Resort & Spa on May 15 to 16 during the Second APEC Senior Officials’ Meeting (SOM2) and Related Meetings. Officials from 21 APEC economies will continue discussions on CTI’s extensive ongoing work program, including taking forward APEC Leaders’ instructions for the realization of the Free Trade Area for the Asia-Pacific (FTAAP) and the APEC Strategic Blueprint for Promoting Global Value Chains Development and Cooperation. Officials will also intensify efforts to ensure effective implementation by end-2015 of tariff reduction commitments made in 2012 on the APEC List of Environmental Goods.
The Task Force on FTAAP Collective Strategic Study, and the CTI Friends of the Chair on Regional Economic Integration, will meet on May 14 to support APEC’s contribution to the realization of the FTAAP. On May 13, the CTI Friends of the Chair on Global Value Chains met to discuss and take stock of progress in the work streams identified in the GVCs Blueprint. The CTI Friends of the Chair on Environmental Goods and Services also met to ensure the transparency and common understanding in the application of the environmental goods commitments in economies’ tariff schedules.
CTI officials will also discuss support for the Multilateral Trading System and World Trade Organization, integrating SMEs in global value chains, strengthening connectivity and infrastructure development, services, investment and regulatory cooperation. CTI’s work will directly support the APEC 2015 priorities of ‘Advancing Regional Economic Integration’ and “Fostering SMEs’ Participation in Regional and Global Markets’, which are two key issues to be discussed at the Minister’s Responsible for Trade Meeting on May 23 to 24 at Shangri-La’s Boracay Resort & Spa. These two priorities fall under the APEC 2015 overarching theme of ‘Building Inclusive Economies, Building a Better World’.