At APEC, Philippines says human capital key to growth

MANILA, Philippines — Human capital development is the Philippines' "top strategy" for economic growth, the country's chief diplomat said in a statement at the APEC Ministerial Meeting in Beijing on Friday.

Foreign Affairs Secretary Albert del Rosario said that science and technology as well as the alignment of education and training programs with industrial requirements are key to harnessing labor.

Del Rosario also underlined the importance of other connectivity initiatives, such as transportation and logistics, financial services, and professional mobility.

He also took the opportunity to express the Philippines' gratitude to the international community, especially to its neighbors in the region, for the assistance following super typhoon Haiyan (Yolanda), which marks its first anniversary on Saturday.

Del Rosario and other ministers from Pacific Rim countries, meanwhile, endorsed a call to formally start work on a free-trade initiative seen as an effort by China to raise its influence in trade policy.

The ministers meeting ahead of next week's gathering of leaders from the United States, China, Japan and other countries at the Asia-Pacific Economic Cooperation summit also endorsed a proposal to cooperate on fighting official corruption, Chinese officials said.

The trade initiative — the Free-Trade Area of the Asia Pacific — comes out of earlier promises by APEC governments to liberalize trade. It is being promoted by Beijing in what analysts see as a Chinese effort to gain influence in U.S.-dominated global trade and financial regulation.

The proposal endorsed by trade ministers from the 21 APEC nations calls for the group to launch a formal study of the initiative and promote cooperation in services, investment and other trade issues, according to the Chinese minister of commerce, Gao Hucheng.

"We believe this roadmap will guide the substantive process in the coming year," Gao told a news conference.

The two-day gathering of leaders, including Presidents Xi Jinping of China, Barack Obama and Japanese Prime Minister Shinzo Abe, begins Monday. - with the Associated Press