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Leading academics and policy makers recommended strategies for APEC to accelerate regional economic integration and inclusive growth in the Asia-Pacific at a two-day APEC Study Centers Consortium Conference in Boracay, Philippines held on May 12-13, 2015, ahead of the APEC Second Senior Officials’ and Trade Ministers’ meetings.
The annual conference offers an opportunity for policy researchers from over 50 APEC Study Centers, universities and think tanks to share their analyses on how APEC can achieve its key 2015 priorities, including increasing services trade in the region and realizing the Free Trade Area of the Asia-Pacific (FTAAP), as well as bolstering small and medium enterprises and investing in human capital development.
“One of the main obstacles for governments to liberalize trade in services is the fact that creating more open services trade across borders requires implementing domestic regulatory reforms,” explained Dr Robert Scollay, Associate Professor and Director of the New Zealand APEC Study Center. “Governments are cautious about changes to domestic regulations due to the uncertainty of the impact of such reforms”.
“In order to achieve progress and reduce the uncertainty on the effects of regulatory reforms, APEC can play an important role as incubator in services liberalization through knowledge sharing of best practices and bringing key stakeholders together to address how these regulatory reforms can be implemented with optimal outcomes,” recommended Scollay.