On November 17-21, Lima is hosting Asia-Pacific’s leading business event, the APEC CEO Summit 2016, which draws the region’s political and business leaders to discuss inclusive free trade, investment and collaboration.
Formed in 1989 in Canberra, Australia, as an informal ministerial-level dialogue group of 12 members, the Asia-Pacific Economic Cooperation (APEC) is a regional economic forum whose membership quickly expanded to 21 countries aiming to create greater prosperity for the people of the region and accelerate its economic growth and integration.
Regarded as the most influential economic forum in the Asia-Pacific region, since 1998 APEC has comprised: Australia, Brunei Darussalam, Canada, Chile, the People’s Republic of China, Hong Kong, China, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, the Republic of Korea, Chinese Taipei, Thailand, the United States and Vietnam.
The summit is held annually in a different member state. This year the Peruvian capital of Lima is hosting the event for a second time, having first staged the summit in 2008. Priority topics up for discussion in Lima cover human capital development, upgrading small and medium-size enterprises (SMEs), the regional food market and regional economic integration.
The event is clearly good for business: according to the Peruvian news agency Andina, APEC countries have invested more than $8 billion in Peru since 2008. Last year alone, $20-billion-worth of Peruvian exports were destined for APEC addresses, with China receiving the most shipments (20%), followed by 18% heading to the US and 7.6% Canada-bound.
On Friday November 18, Peruvian President Pedro Pablo Kuczynski will deliver a keynote speech on this year’s theme of ‘Quality Growth and Human Development’, which is followed by an open discussion on ‘The DNA of Global Growth’ that will look at where and how economic expansion is happening worldwide.
Over the course of the summit, keynote speakers will also include Christine Lagarde, Managing Director of the IMF; Mark Zuckerberg, Chairman & CEO of Facebook; Xi Jinping, President of China; Juan Manuel Santos, President of Colombia; and Ian Bremmer, President of the Eurasia Group.
In addition, distinguished panels will hold open forum discussions on the targeted topics of:
The 2016 edition will be the first APEC summit for President of Vietnam Tran Dai Quang, President of the Philippines Rodrigo Duterte, and Peru’s President Pedro Pablo Kuczynski.
It will also be the last APEC meeting for Barack Obama as US President, as Lima will be the final leg of his last scheduled foreign trip before he leaves office on January 20, 2017, following visits to Athens and Berlin earlier in the week. According to a statement by the White House, the visit underscores “the United States’ support for the Asia Pacific’s regional institutions and efforts at regional economic integration through trade and investment liberalization.”
The summit is scheduled to close on Saturday November 19 with remarks by Vietnamese President Trai Dai Quang and an invitation to delegates to the APEC CEO Summit 2017 in Vietnam.
For a more in-depth look at the topics, countries and participants in the APEC Summit 2016, read or download the latest report published by The Worldfolio.