29 May 2016 (Beijing, China) – The Philippine Services Coalition (PSC) commits to substantially contribute the ongoing work on the APEC Services Competitiveness Roadmap, joining the ranks of the Asia Pacific Services Coalition (ASPC) in moving towards an improved services sector. The roadmap aims to facilitate services trade and investment and enhance the competitiveness of the services sector through the adoption of a concerted set of actions and mutually agreed targets to be achieved by 2025.
In line with this, the APSC will continue to engage with the public and private sector to foster growth and efficiency in the services sectors through increased trade and investment, and greater innovation and skills development. Specifically, the coalition will look at the areas involving digital trade, free flow of data, regulatory principles, including greater mobility of services providers.
This was the general consensus during the coalition’s second meeting in Beijing, China, held on the sidelines of the China International Fair for Trade in Services and the Global Trade in Services Summit. Aside from China and the Philippines, representatives from Australia, Chinese Taipei, Hong Kong, Indonesia, Malaysia, Papua New Guinea, Peru, Singapore, and the United States were present as well. The third meeting of the coalition will be held in Kula Lumpur in 2017.
Recognizing the pivotal role of services sector in driving economic growth, competitiveness and regional economic integration, the Asia Pacific Services Coalition was formed following the first Regional Conference of Services Coalitions last September 2015 in Cebu, Philippines. The group saw the need for an immediate yet a more formal mechanism of engagement with APEC and other similar platforms on current and emerging issues on services.
The Makati Business Club and the Philippine Chamber of Commerce and Industry are the convenors of the newly revived Philippine Services Coalition.