Peru Hosts 2024 APEC Economic Leaders’ Week, Aiming to Drive Inclusive and Sustainable Growth

As the 2024 APEC Economic Leaders’ Week begins, global attention centers on Peru, where President Dina Boluarte is set to welcome leaders from APEC’s 21 member economies in Lima. Under the theme “Empower. Include. Grow,” senior officials, ministers, and heads of state will address critical challenges affecting the Asia-Pacific region, including climate change, sustainable energy, digital economic transitions, and trade facilitation. These discussions aim to identify policies that will not only address current issues but also foster innovation and inclusivity across the region.

The forum’s primary focus areas include:

1. Trade and Investment for Inclusive Growth: Creating conditions to make trade more open, equitable, transparent, and inclusive, fostering interconnected growth.
2. Innovation and Digitalization for a Global Economy: Leveraging digital tools to support vulnerable groups as they transition from informal to formal economic participation.
3. Sustainable Growth for Resilient Development: Promoting a fair energy transition by advancing renewable energy initiatives and strengthening food security.

Ambassador Carlos Vasquez, Chair of the 2024 APEC Senior Officials, emphasized Peru’s unique role as host in steering the dialogue toward sustainability, resilience, and digital inclusion. He highlighted that hosting APEC reaffirms Peru’s dedication to enhancing multilateral partnerships and positions the nation as a key influence in the Asia-Pacific’s agenda-setting.

Vasquez noted that APEC’s work in promoting both trade and investment and in pushing a growth-focused agenda is gaining momentum. He observed that APEC member economies are increasingly aligning on new economic norms and policies to drive inclusiveness and support impactful programs that address the region’s needs.

APEC’s collaborative focus on resilience and sustainable growth paves the way for meaningful outcomes set to benefit the Asia-Pacific’s three billion residents. Dr. Rebecca Sta Maria, executive director of the APEC Secretariat, underscored the need for a comprehensive approach, reminding that the interconnected nature of APEC economies requires holistic attention to each aspect of their economic frameworks.

Under President Boluarte’s leadership, the week will culminate in the APEC Economic Leaders’ Meeting on November 15-16, where member economies will establish guidelines for future cooperation. This meeting follows the APEC Ministerial Meeting on November 14, co-chaired by Foreign Affairs Minister Elmer Schialer and Foreign Trade and Tourism Minister Desilú León.

Indigenous perspectives will also play a role, with ministers scheduled to meet with Indigenous representatives on November 13 to discuss inclusive growth and economic empowerment. Meanwhile, APEC senior officials will convene on November 11-12 to finalize initiatives for trade and growth and to outline a framework for joint policy development. The APEC Policy Support Unit will release its latest Regional Trends Analysis report on November 12, which will provide the foundation for the week’s discussions.

The business sector is actively involved as well. The 2024 APEC CEO Summit, organized by the private sector, will facilitate open dialogue between regional leaders and business executives on November 14-15. Additionally, the APEC Business Advisory Council will meet from November 10-12 and will hold a session with APEC leaders on November 15. The APEC Small and Medium Enterprise Summit on November 13 will focus on addressing the unique challenges and opportunities faced by SMEs.

Hosting APEC for the third time, following 2008 and 2016, Peru has organized over 270 working meetings throughout 2024 in cities including Lima, Arequipa, Pucallpa, Trujillo, and Urubamba. Each meeting has contributed deliverables or key documents that reflect a consensus among APEC’s 21 member economies and help establish the framework for the forum’s ongoing agenda.

Have you read?
Best countries for hiring freelancers.
Highest Paid Big Pharma CEOs And Top Executives.
Best Websites For CEOs, business leaders, and high-net-worth individuals.
Best Executive Search Firms And Consultants in America.
Revealed: Most Powerful Women In The World.