Ingenieur Vol 61 January-March 2015 | Page 46

INGENIEUR Source: www.apec.org Consistent overall policy based on input from each economy is essential for moving APEC’s trade and investment agenda forward, and facilitating APEC’s push for regional economic integration. In 2013, APEC Leaders agreed to promote GVC development and co-operation in the APEC region on the basis of previous work on connectivity. This agreement highlights the need for APEC economies to work strategically and take action in creating an enabling environment for GVC development and co-operation. In response to the Leaders’ instruction, APEC economies agree to develop a Strategic Blueprint for promoting global value chains development and co-operation, and agree to:   1. Address trade and investment issues that impact GVCs. Reducing trade and investment barriers will improve APEC economies’ access to global production networks and allow firms to source less expensive inputs globally. This in turn lowers costs, increase efficiency and enhance competitiveness. For 2015, APEC may launch initiatives in the areas of enhancing GVCs; and studying the impact of measures on the growth of 6 44 VOL 61 JANUARY – MARCH 2015 VOL 55 JUNE 2013 GVCs, participation of economies and businesses in GVCs, and our regional economy. \