Duterte calls for international cooperation to boost economic recovery

MANILA, Philippines — President Duterte called for closer international cooperation to hasten the economic recovery of Asia-Pacific states from the COVID-19 pandemic as he addressed the 28th Asia-Pacific Economic Cooperation (APEC) last Friday.

Speaking during the APEC Economic Leaders’ Meeting held via video conference, Duterte said the disparity in the ability of nations to recover from the pandemic cannot only be attributed to weak domestic systems or pre-pandemic economic fault lines, but also to structural and artificial constraints in the global economy.

“Closer international cooperation is needed to address these constraints and to ensure that all countries recover from this crisis,” the President said.

He stressed that APEC economies need improved risk management systems, better response and mitigation measures and stronger support mechanisms for vulnerable communities.

To achieve these goals, Duterte called for the creation of an integrated system on vaccine passport validation and contact tracing, institutionalization of social protection for non-traditional forms of employment and promotion of transnational education and digital inclusion in APEC economies.

“Creating an integrated system on vaccine passport validation and contact tracing in order to facilitate safe cross-border travel is key to promoting mobility and revitalizing hard-hit sectors, particularly tourism,” he said.

He also stressed the need for establishing social protection for non-traditional forms of employment.

“Under the new normal, we can expect more people in the informal sector and gig economy. Yet, workers in these sectors are not usually covered by mandatory benefits and social protection programs,” the Chief Executive said.

“To address this, the Philippines, for its part, will broaden the coverage of social insurance under its Social Security System and improve unemployment insurance and related services,” Duterte said.

In promoting transnational education among APEC economies, Duterte said countries can consider various modalities, including setting up international branch campuses and training centers.

Noting the urgency of addressing the climate emergency, Duterte reiterated his call for developed nations to fulfill their longstanding commitment to climate financing, technology transfer and capacity-building in the developing world, saying “it is the right thing to do.”

“Developing economies such as the Philippines contribute the least to climate change, but we are the most vulnerable to its disastrous consequences. And the cost of transitioning to a green economy is too high for developing countries to afford. This is the simple truth,” the President said.

The APEC Economic Leaders also endorsed during the meeting the Aotearoa Plan of Action, the Implementation Plan for Putrajaya Vision 2040, which highlights key imperatives on trade and investment, innovation and digitalization, and strong, balanced, secure, sustainable and inclusive growth.

APEC is composed of 21 member-economies, namely, Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, the Russian Federation, Singapore, Chinese Taipei, Thailand, the United States and Vietnam.