NCAPEC leverages its expertise and networks to create opportunities for members to advance priorities in a range of areas critical to the growth and prosperity of the Asia-Pacific region.
Digital Economy
The rapid pace of digitalization and international innovation creates robust opportunities for companies to reach global consumers but also presents challenges to ensure those innovations are trusted, safe, and accessed equitably. Asia is home to the most internet users in the world—nearly 2 billion people. Given this opportunity and the growing importance of digitally enabled services, the data driven economy, artificial intelligence, cloud computing, and the necessity for online connectivity for all, APEC leaders have increasingly focused on the components that make digital trade and connectivity possible.
NCAPEC engages with key U.S. agencies—like the Office of the U.S. Trade Representative, U.S. Department of Commerce, and U.S. Department of State – to advance companies’ digital policy priorities in APEC. NCAPEC also works with APEC economies to identify opportunities for public-private cooperation on digital economy and digital trade issues. NCAPEC’s collaboration with governments enables the U.S. private sector to fully leverage APEC and promotes sound policies governing the digital economy in the Asia-Pacific region.
Energy Security
APEC economies account for approximately 60 percent of world energy demand and 55 percent of global energy production. As such, energy security is a top concern among APEC policymakers.
Since its founding, NCAPEC has organized and participated in numerous high-level programs and developed strategic analysis on energy-related issues. NCAPEC acts as a conduit for the U.S. private sector to convey its priorities to U.S. government officials, including officials with the U.S. Department of Energy and U.S. Trade Representative. NCAPEC also identifies and develops opportunities for public-private cooperation on APEC energy initiatives and leverages its relationships to raise and promote U.S. private sector objectives in APEC.
Financial Services
A strong financial services sector is critical to the global financial system’s health and stability. The Asia Pacific is home to some of the largest cities in the financial services market, making it an important region for the industry.
NCAPEC advocates on behalf of the U.S. financial services industry in APEC to promote sound policymaking and the use of industry best practices in APEC economies. NCAPEC companies help identify core principles that APEC can use to further develop and promote a stronger regional financial architecture and deter the use of harmful policies that constrain economic growth and prosperity. NCAPEC also identifies and leverages opportunities for companies to engage officials from APEC economies’ financial ministries and international financial institutions, like the Asian Development Bank, Inter-American Development Bank, The World Bank, and the International Monetary Fund.
Food Security
Food security is an issue of critical importance to global policymakers. According to the Asian Development Bank, Asia accounts for nearly 65 percent of the world’s undernourished, due largely to food insecurity. As such, officials must ensure that economies have access to safe and stable food supply-chains so that their populations may grow and thrive.
NCAPEC has played a leading role on food security issues within APEC. NCAPEC led the APEC Business Advisory Council’s (ABAC) efforts to advocate for a new high-level forum to discuss food security issues in the region. As a result of those efforts, APEC Senior Officials established the APEC Policy Partnership on Food Security (PPFS) in 2011. The PPFS has developed multiple initiatives aimed at establishing a region-wide food system structure to strengthen food security in APEC. Furthermore, NCAPEC worked to ensure that U.S. private sector perspectives were well represented in the APEC Food Security Roadmap Towards 2030 Implementation Plan.
NCAPEC also engages with U.S. and Asia-Pacific officials to convey private sector priorities and identify opportunities for public-private cooperation on food security issues.
Health
Major epidemiological and demographic transitions in APEC economies create unique challenges for governments, employers, and healthcare companies alike. To address these challenges, APEC brings together health officials and experts from the public and private sectors to collaborate on innovative solutions to pressing social and wellness concerns.
NCAPEC works closely with U.S. healthcare companies to advance their regional industry objectives by creating opportunities for direct engagement with government officials. NCAPEC represents U.S. industry’s views in APEC and ensures that its priorities are reflected in groups like the Health Working Group and Life Sciences Innovation Forum, which focus on health-related policy issues. Additionally, NCAPEC supports development of an annual Letter to Health Ministers, which conveys U.S. industry’s views to key APEC officials.
Investment
APEC economies are the largest recipients of foreign direct investment in the world. Given the size and scope of these investments, such funding remains critical to facilitating economic growth in the Asia-Pacific. When companies invest in foreign markets, they drive economic growth by creating jobs, raising incomes, and strengthening trade flows.
To promote foreign investment in APEC, NCAPEC advocates for open and fair investment measures that enhance APEC economies’ competitiveness and contribute to long-term economic growth. NCAPEC works closely with the public and private sectors to develop and advocate for policies that facilitate transparent and competitive investment environments. As a part of its advocacy, NCAPEC engages regularly with the APEC Investment Experts Group (IEG), which is comprised of officials responsible for investment policy within APEC economies. NCAPEC has worked with the IEG to facilitate public-private engagement opportunities that promote development and enforcement of good investment policy in the region.
Small Businesses
Micro, small, and medium sized enterprises (MSMEs) make up over 97% of all businesses in APEC and to ensure their success, they require unique and targeted support. A diverse range of policy areas can have a positive impact on MSMEs if approached in a wholistic and targeted way such as digitalization, inclusive finance, sustainability, and supply chain resilience and entry.
NCAPEC works with business networks to identify and include MSMEs in the APEC process to help ensure their voices are heard by policymakers. NCAPEC also engages with the U.S department of Commerce, and other agencies from other economies who support MSME resilience and globalization.
Sustainability
APEC economies are increasingly recognizing the importance in mitigating the impacts of climate change and other environmental factors on the Asia-Pacific. APEC officials and private sector experts have utilized the collaborative framework of APEC to embrace the opportunity of creating a more sustainable future. Most notably, APEC Leaders endorsed the APEC List of Environmental Goods in 2012 and Bangkok Goals on the BCG Economy in 2022 to encourage green economic growth and greater sustainable development in the Asia-Pacific.
To promote sustainable practices and policies in APEC, NCAPEC advocates for market-based solutions that support the sharing of information and adoption of best practices between the public and private sectors. The U.S. private sector has emerged as global leader in reducing carbon emissions, ESG finance and investment, green trade, mining of essential metals, and advanced research and development. NCAPEC brings these market-based recommendations and solutions to a range of APEC’s fora, including the Energy Working Group (EWG), Committee on Trade and Investment (CTI), Transportation Working Group (TPTWG), Asia-Pacific Financial Forum (APFF), and the Policy Partnership on Food Security (PPFS).
In the 2023 APEC Leaders’ Golden Gate Declaration, APEC Economic Leaders’ recognized and endorsed the inaugural NCAPEC Sustainable Future Forum, an annual event which seeks to promote public-private discussions on climate-related issues within the APEC region.
Trade Facilitation
APEC economies account for approximately 37 percent of the total global population and 47 percent of global trade in goods and commercial services. Trade facilitation, seamless cross-border trade and resilient supply chains increasingly play a crucial role in fostering economic growth and development among APEC economies.
NCAPEC recognizes that trade facilitation measures, such as simplifying customs procedures, reducing trade barriers, and harmonizing regulations, contribute to the smooth flow of goods and services across borders. Additionally, APEC’s commitment to improving supply chain connectivity and resilience is paramount, especially in an era where global value chains are integral to economic success. To further these goals, NCAPEC advocates on behalf of the U.S. private sector to encourage greater public-private partnerships within APEC’s Committee on Trade Investment (CTI), Sub-Committee on Customs Procedures (SCCP), and the Alliance for Supply Chain Connectivity (A2C2).
Women and the Economy
Women throughout the APEC region face challenges related to obtaining capital, reaching markets, developing skills and capacity, accessing networks, and achieving leadership positions. These obstacles result in untapped productivity and inhibited economic growth in the region. Addressing limits on women’s participation in the workforce could potentially add up to $89 billion a year to the regional economy, according to a 2012 United Nations estimate. NCAPEC works on behalf of its companies to address these barriers and promote women’s economic engagement in the region.
NCAPEC works closely with the U.S. Department of State to coordinate private sector participation in key APEC dialogues, like the Policy Partnership on Women and the Economy (PPWE) and represent the U.S. private sector’s perspective in that forum. NCAPEC also participates in the ABAC Women’s Forum, which develops initiatives and policy recommendations focused on integrating more women into APEC economies. NCAPEC works within that dialogue to promote U.S. industry’s priorities and best practices, and to showcase areas where U.S. industry leads on women’s issues.