Asia-Pacific groups form services coalition to tap huge market | Global News

ÃÛÌÒ¹¤×÷ÊÒ

Asia-Pacific groups form services coalition to tap huge market

By: - Reporter /
/ 10:12 AM September 08, 2015

apec
CEBU CITY, Philippines — An Asia Pacific Services Coalition has been formed after services organizations agreed to form a coalition at the sidelines of the Asia Pacific Economic Cooperation (Apec) meeting here.

“We will form an Asia Pacific Services Coalition,” said Anthony Nightingale, member of the Apec business advisory council (Abac), in a press briefing.

Nightingale said Apec member-economies were fortunate that the Philippines decided to make services a priority.

Article continues after this advertisement

“Services account for 70 percent of global GDP and when taken from a value added perspective, contribute nearly 50 percent of world trade experts,” he said.

FEATURED STORIES

He said these figures showed the need for Apec economies to “have a consistent, higher priority and attention” on the services sector.

He said the service sector was the largest sector of economic activity.

Article continues after this advertisement

“If we are serious about delivering inclusive growth in the region, discussions need to be anchored on rational economic arguments about how services can help promote the services sector in the region,” Nightingale said.

Article continues after this advertisement

The Asia Pacific Services Coalition was formed after a Regional Conference of Services Coalition was held at the sidelines of the Apec meetings here in Cebu.

Article continues after this advertisement

The conference brought together “service-related enterprises, small enterprises, users of services, and other relevant service-focused groups from Apec economies.”

The conference has emphasized the need for structural reforms to remove barriers in the services sector.

Article continues after this advertisement

Apec economies believe that removing barriers would boost trade and prosperity in the region.

The conference also emphasized the need “to identify ways to established more competitive sector, maximize oppurtunities for growth, stress the importance of cooperation and coalition building that will benefit all Apec economies.”

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the and acknowledge that I have read the .

EDITORS' PICK
MOST READ
newsinfo
entertainment
newsinfo
newsinfo
entertainment
newsinfo
www
newsinfo
newsinfo
www
newsinfo
newsinfo
TAGS: APEC, Apec 2015, Asia-Pacific Economic Cooperation, business, Cebu, Economy, globalnation, growth, Philippines, trade

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the and acknowledge that I have read the .

© Copyright 1997-2024 ÃÛÌÒ¹¤×÷ÊÒ | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies.