APEC Small and Medium Enterprises Ministers Issue Joint Statement Ministers in charge of small and medium enterprises (SMEs) in the APEC region issued a statement following their meeting in Concepcion, Chile, on 5-6 September 2019. APEC Steps Up Promotion of Cross-Border Privacy Rules APEC economies, data privacy regulators, and other stakeholders are exploring ways to bolster the Cross-Border Privacy Rules (CBPR) system. Endorsed by APEC leaders in 2011, the CBPR system establishes enforceable, binding commitments to safeguard consumers’ personal information and foster growth of the digital economy.

Help Women Farmers and Fishers to Grow to Boost APEC Growth Officials from agriculture and fisheries ministries, as well as from non-government bodies in APEC, are working to identify solutions that may improve opportunities for women in agriculture and fisheries, including aquaculture. In some APEC economies, rural women make up half or more of the work force for primary industries such as agriculture and fisheries. Yet they have low access to the education, training, and capital that are necessary to boost their earning potential. Stronger economic empowerment for women is a key priority APEC Ministers Pledge to Strengthen Food Security…

World Needs APEC More than Ever: Business Community Businesspeople and advocates for the Asia-Pacific Economic Cooperation, or APEC, urged the region’s leaders to use APEC as an avenue for achieving more progress, such as developing workers’ skills for the digital economy or deepening policy reforms. BSP to hasten Islamic banking rules The Bangko Sentral ng Pilipinas (BSP) will fast-track the issuance of regulations and rules for the development of Islamic finance in the country as soon as President Duterte approves and signs the Islamic Banking Law.

Rapid Growth of Transport Sector Fuels Energy Demand in APEC The 21 economies that comprise the Asia-Pacific Economic Cooperation (APEC) are expected to see a 21 per cent rise in energy demand over the next 30 years, partly due to population and economic growth in Southeast Asia, says a new APEC report. Philippines economy: The Goldilocks Scenario However, that risks to the international economy remain and that the policy-makers are ready to respond with flexible responses to make the economy resilient

Duterte signs BSP’s gold Bill into Law BSP announced that Republic Act (RA) No. 11256, An Act to Strengthen the Country’s Gross International Reserves (GIR), was approved by Congress and signed by President Rodrigo R. Duterte last 29 March 2019. Foreign Investment Law update THE chairman of the Senate Committee on Economic Affairs is moving to update the 28-year-old Foreign Investment Law, aiming to lure more foreign direct investments (FDI) into the country to create more jobs. Settling investor–state disputes, Asia Pacific style Host states are increasingly adding investor–state dispute settlement (ISDS) provisions to investment treaties alongside inter-state arbitration provisions.…

BSP signs currency settlements with ASEAN central banks BSP has forged agreements with the central banks of Indonesia, Malaysia and Thailand as they look to set up direct settlement systems across currencies