APEC summit gets mixed grades from business

MANILA, Philippines - The conclusion of the Asia-Pacific Economic Cooperation (APEC) summit in Manila left mixed reactions from the local business community, with some groups satisfied and some discontented with the outcome.

Major business groups in the country were specifically pleased with the APEC economies’ push for the globalization of micro, small and medium enterprises (MSMEs) as well as support for climate change mitigation and more trade agreements in the region.

“We applaud most of all the successful hosting of the Philippines of the APEC Leaders’ Meeting, the APEC CEO Summit, the APEC MSME Summit as well as the fourth meeting for 2015 of the APEC Business Advisory Council,” Makati Business Club (MBC) executive director Peter Angelo Perfecto said.

“APEC was well planned and interesting especially topics on innovation, trade relations, women empowerment, SMEs and inclusive growth,” Management Association of the Philippines president Francisco Del Rosario Jr. added.

Perfecto said both public and private representatives from the 21 APEC member-economies have expressed gratitude for the Philippines’ successful hosting of this year’s summit.

“There are many significant developments but MBC would like to single out the APEC Services Cooperation Framework as well as the push for innovation in the MSME sector. We welcome the focus given to the need for more action on climate change,” he said.

With things presented and discussed during the APEC summit, Perfecto said it is now up to the country on how to seize the opportunities and move its own agendas forward alongside the broader APEC agenda.

“We hope that there can be continuing public-private collaboration and partnerships to help realize successful initiatives,” the MBC official said.

But while some business groups were contented with the results of the 2015 APEC summit, others were left wanting for more, specifically on solutions to Canada’s garbage dumped it the Philippines and the West Philippine Sea territorial dispute with China.

“We were hoping to see these issues addressed. Unfortunately, they were not,” a local business group official who declined to be identified said.

The government earlier said it would not discuss issues surrounding the West Philippine Sea during the APEC summit but US President Barack Obama in one of the press conferences aired his support to the country in line with the dispute.

Canadian Prime Minister Justin Trudeau, in a press conference Thursday, meanwhile, provided no clear plans on what will happen to the Canadian garbage shipped to the Philippines.

Topics such as sports and arts as a tool for peace and development should have also been included and discussed during the meetings, Del Rosario added.