Trade liberalization requires e-APEC, ministers say

Fuller implementation of electronic commerce between members is necessary to drive open trade and economic cooperation, according to ministers of the 21-member Asia-Pacific Economic Cooperation (APEC) group.

In a statement issued Thursday at the Fourteenth APEC Ministerial Meeting and the Tenth APEC Economic Leaders Meeting in Los Cabos, Mexico, the ministers reaffirmed that APEC was committed to implementing an e-APEC strategy focused on three main areas:

• creating an open economic environment where market forces and regulations encourage the widespread use of technology

• government policies which promote technology development and infrastructure investment, including online transaction laws, continuing work on electronic authentication and signatures, the promotion of information security, personal data protection and consumer trust

• to create a skilled workforce and promote entrepreneurship, a quality critical to ICT (information and communications technology) development.

Particularly important in boosting investment and cutting trade costs is a paperless trading system, the ministers said. Fourteen of the member economies have submitted individual action plans for paperless trading already, according to the statement.

The ministers also said that promoting the digital economy in APEC, pursuing innovations, and addressing the digital divide comprised one of the group’s four key projects this year. APEC is continuing with an initiative known as Transforming the Digital Divide into Digital Opportunities. APEC ministers also said that it was important for members to implement e-government schemes to enhance the quality and transparency of government services.

APEC brings together 21 states and territories that border the Asia-Pacific region: Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Republic of the Philippines, Russia, Singapore, Taiwan, Thailand, Vietnam and the United States.

The meeting continues through Sunday.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Featured Articles

ADaPT connects employers with highly skilled young workers

Help wanted. That’s what many tech companies across Canada are saying, and research shows...

Unlocking Transformation: IoT and Generative AI Powered by Cloud

Amidst economic fluctuations and disruptive forces, Canadian businesses are steering through uncharted waters. To...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now