APEC 2015 for Juan Dela Cruz
APEC is the largest regional economic group in the world. It is constituted by countries circling the Pacific Rim composed of 21 member-economies. With the theme “Building inclusive economies, building a better world”, the 10 Billion Peso APEC 2015 summit was considered a success. Security was tightened for the summit in the Philippine capital following attacks in Paris that left at least 128 dead. The country’s 120,000-strong national police was put on “full alert”, more than a thousand flights cancelled, APEC lanes were created, roads were closed and a week-long public holiday was declared in Manila to ensure a safe and efficient summit.
After all the glitz and glam, the traffic and all the inconvenience afforded to the inhabitants of Metro Manila, the question is: What is in return for Juan De la Cruz?
For starters, Philippine economy’s biggest partners are the member economies of APEC making up 80% percent of the entire country’s total trade. World leaders also discuss the concerns of small and medium enterprises and how to increase regional economic cooperation to overcome trade difficulties. President Aquino and the other world leaders signed agreements regarding disaster risk reduction and management, avoidance of double taxation, cooperation on tourism, fight against transnational crimes, drug and human trafficking and the reassurance and the “Ironclad” commitment of the US to defend the Philippines. President Obama even announced the transfer of two more US navy ship to the Philippine navy to further bolster the country’s capability In protecting its sovereignty.
Although the APEC Summit’s focus for this year was more on enhancing trade and investment in the Asia Pacific region. The organization’s 21 member economies began their annual joint declaration post-Economic Leaders’ meeting with a strong condemnation of terrorism. The declaration addressed the alleged terror attacks conducted by the Daesh or ISIS. It mentioned the Paris and Beirut terrorist attacks and the downing of a Russian aircraft over the Sinai Peninsula. World leaders point out that the factor increasing radicalization among the youth was marginalization, lack of economic opportunity and economic instability. They pointed out that economic growth and human security are not mutually exclusive.
The Philippines did not only welcome world leaders. 7,000 delegates came to Manila and most of them were businessmen with the likes of Jack Ma, the richest man in China also the founder of Alibaba. The success of the summit highlighted the fact that our country is capable of having such a prestigious event peacefully. Although the gains that the Philippines will get from the summit cannot be quantified instantly, the promise of more investments and jobs for the Filipinos is what the country really needs to continue its robust growth. The APEC summit allowed the Philippines to put itself on the global highlight and to be recognized in the world stage, hopefully the gains from the all promises and the agreements during the APEC will materialize to sustain growth that will affect our nation from the highest and the richest, down to the grassroots of the society.
(By: Theo Miguel A. Ballesteros)











