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Monday, May 28 2018

APEC Papua New Guinea 2018: Chile aims to foster sustainable and inclusive growth through a digital agenda

Speaking at the APEC Trade Ministers’ Meeting, Chile’s Vice Minister of Trade, Rodrigo Yáñez, expressed Chile's strong support for the multilateral trade system, and spoke about the role of the digital economy and technology as tools to facilitate trade, investment and inclusive growth.

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With Chile's strong support for the multilateral trade system, and expressing its concern about recent trends towards protectionism t, the 21 economies that are part of the Asia-Pacific Economic Cooperation (APEC) discussed the importance of inclusive trade and regional integration during the latest Trade Ministers’ Meeting in the city of Port Moresby, Papua New Guinea.

The Chilean delegation, led by Chile’s Vice Minister of Trade, Rodrigo Yáñez, took an active part in the meeting. Vice Minister Yáñez emphasized the opportunities provided by the digital economy to facilitate trade, investment and inclusive and sustainable growth and services.

The world has changed radically. Globalization and access to information have transformed our economies, societies and work practices. In the midst of industrial revolution 4.0, Chile hopes to continue working in a comprehensive, inclusive and sustainable way in the digital era, in order to generate the greatest welfare and prosperity for the people in the region" he said.

He added that it is necessary to reflect on the opportunities offered by the Digital Age and the chance to include MSMEs, women, young people, entrepreneurs and rural communities, among other vulnerable groups, who have not necessarily felt part of this phenomenon.

Vision 2020

Another important topic addressed by the trade representatives of the 21 economies was the vision of APEC post 2020, after the deadline for completion of the Bogor Goals that have guided APEC's work for 25 years.

Chile emphasized the importance of continuing to make progress with liberalizing and promoting trade in services, reducing tariff barriers, developing new generation issues, such as digital trade and financial technology, and moving towards comprehensive agreements in the Asia-Pacific region.

To achieve this objective, the economies made a commitment to contributing to the development of a more inclusive globalization process, where all citizens can perceive the benefits of free trade.

Bilateral Meetings

Parallel to the activities included in the agenda, Vice Minister Yáñez held bilateral meetings with strategic partners, such as the United States, New Zealand, Singapore, Australia, the People’s Republic of China, Canada, the Republic of Korea and ASEAN. These meetings gave him the chance to emphasize the opportunities that the digital economy represents for regional integration, as well as share details about the organization of APEC Chile 2019.