| Dear NCAPEC Subscriber,
Thank you for your support of the National Center for APEC. This quarterly newsletter highlights news and events from April to June 2020.
IN THIS ISSUE:
- APEC Work Continues Online
- APEC Policy Support Unit Releases New Reports
- NCAPEC Q2 Activities
|
|
| APEC Work Continues Online |
|
|
| For the entire second quarter of 2020, lockdowns continued across most APEC economies in efforts to stem the spread of the COVID-19 pandemic. The importance of digital connectivity and the digital economy, supply chains and trade were underscored as governments and businesses scrambled to provide services and products to citizens and consumers. As the economic impacts of the pandemic became clear, work within APEC and the APEC Business Advisory Council (ABAC) continued with a lens focused specifically on the impact of the pandemic and recovery efforts. APEC’s efforts began in earnest with the holding of the first ever Virtual Extraordinary Senior Official’s Meeting (VESOM) in late May. Officials discussed steps to operationalize the APEC Trade Ministers’ Statement on COVID-19 which identified supply chains and digital economy as important areas of focus. APEC is expected to hold another VESOM and a meeting of Ministers Responsible for Trade in late July. ABAC efforts have focused on the development of a report that will provide recommendations on supply chains, open markets, SMEs and digital connectivity. The report will be presented to Ministers Responsible for Trade prior to their meeting at the end of July. New Zealand has also just announced that they will host APEC 2021 virtually as a result of the pandemic. |
|
| APEC Secretariat Policy Support Unit (PSU) Releases New Reports |
|
|
| Report on Export Restrictions and Food Security in the Context of the COVID-19 Pandemic:
In May, APEC’s Policy Support Unit released a report entitled Export Restrictions and Food Security in the Context of the COVID-19 Pandemic. The publication determined that food security in APEC economies has not only improved since the 2007-2008 global food crisis, but APEC economies have also implemented few export restrictions during the current crisis. However, the Policy Support Unit recommends that APEC economies can further strengthen the region’s food security by avoiding unnecessary export bans, lowering import tariffs on food products, strengthening supply chain connectivity, and exchanging best practices during the COVID-19 pandemic. NCAPEC supports APEC’s efforts to promote the region’s food security during the current crisis through free and open trade. |
|
| APEC Regional Trends Analysis – What Goes Around Comes Around: Pivoting to a Circular Economy; Uncertainty Tests APEC’s Resilience amid COVID-19
The PSU also published a report entitled APEC Regional Trends Analysis – What Goes Around Comes Around: Pivoting to a Circular Economy in May. The publication found that firms applying circular economy principles improved their responses to short-term supply shortages during COVID-19. NCAPEC is following regional cooperation through APEC that encourages a shift towards a circular economy by promoting the standardization of processes, technologies and materials involved in the circular economy; disseminating information about the circular economy; and elevating related discussions to a higher level. |
|
| APEC TELWG Smart Cities Report
In October 2019, the APEC Telecommunications and Information Working Group (TELWG) held a workshop titled, “Recommendations for Implementation of Smart Sustainable City (SSC) ICT Infrastructures in the APEC Region” to discuss ICT infrastructure for SSC and share best practices among members.
The report concluded that plan, strategy, and vision are basic principles to implementing complex and expensive SSC ICT infrastructure. It requires coordination with local and regional governments, collaboration between residents, the private sector, startups, and academia while also considering the environment, technical standards, and public utility services. No city is identical so unique visions and plans with clear targets are key to implementing SSC ICT infrastructure in APEC. |
|
| NCAPEC Board Discussion on Supply Chain Recommendations in Response to COVID-19
At the end of April, NCAPEC hosted a Board Discussion on Supply Chain Recommendations in Response to COVID-19 that featured Sarah Thorn (Walmart), Ralph Carter (FedEx) and Craig Kennedy (Merck) as panelists. The discussion resulted in a list of private-sector recommendations for APEC economies to effectively address supply chain disruptions during COVID-19. |
|
| U.S. APEC Business Coalition Briefing
On June 4, NCAPEC hosted a briefing on the APEC Virtual Extraordinary Senior Officials’ Meeting (VESOM) on COVID-19 that took place on May 27. Sandra Oudkirk from the State Department, Michael Beeman from USTR and NCAPEC President Monica Whaley updated participants on APEC’s and ABAC’s work during the pandemic and emphasized the importance of private-sector involvement within APEC. |
|
| APEC Update: Cross-Border Data Flows and Privacy Regulations
On June 18, NCAPEC hosted an online event to update private sector representatives on developments around cross-border data flows and privacy regulations in APEC. Speakers Shannon Coe, Director Global Data Policy, International Trade Administration, U.S. Department of Commerce; Joshua P. Meltzer, Senior Fellow – Global Economy and Development, Brookings Institution; and Julius Caesar Parreñas, Ph.D., Senior Advisor, Mizuho Bank, Ltd., briefed participants on the current landscape of data privacy regulation, APEC efforts to broaden adoption of the APEC Cross Border Privacy Rules, and industry led efforts to facilitate data flows in the financial services sector. |
|
| Responding to COVID-19’s Impact on Women’s Empowerment
On June 24, the National Center for APEC organized a virtual event on the impact of COVID-19 on women’s economic empowerment. The conversation featured Dr. Rebecca Sta Maria, Executive Director of the APEC Secretariat and Katherine Rich, current CEO of the New Zealand Grocery Council and former ABAC New Zealand Member. Sarah Thorn, Senior Director, Global Government Affairs of Walmart served as moderator for the informative and interactive session.
For nearly ten years, APEC and ABAC have successfully raised the profile of women’s economic empowerment issues, but both speakers highlighted the importance of doubling down on efforts as the economic and social impacts of the pandemic are disproportionately affecting women and exposing structural weaknesses in APEC economies.
Panelists and attendees discussed the need to create more equitable communities and agreed that the crisis provides an opportunity for real change. Equity in pay, equity in work environments, more flexible work arrangements, and providing opportunities for women to up-skill, especially in the STEM field, are all areas for public-private collaboration and APEC engagement. |
|
| Thank you for subscribing to the National Center for APEC’s quarterly newsletter. |
|
|
|
