A new study by the APEC Policy Support Unit revealed that foreign direct investment provides an important pathway to global value chain participation, showing that participation develops as investments accumulate. “When member economies hold a central position in the foreign direct investment network, they have the tendency to also be hubs in the global value chain trade network,” said Dr Akhmad Bayhaqi, a senior analyst with the APEC Policy Support Unit. “And when economies

Home to half of world trade, the APEC region posted double-digit growth both in trade volume and value during the period of January to September 2021, according to an update to an APEC Policy Support Unit report. The volume of APEC’s merchandise exports and imports increased by 14 percent and 16 percent respectively compared to the same period last year, when these were in the negative zone. The value of merchandise trade, meanwhile, rose to 28.2 percent for exports and 27.3

New economic data from across the APEC region shows a softer economic contraction of 1.9 percent in 2020, with continued fiscal measures leading to a rise in government consumption and improved investment and household consumption. According to the latest APEC Regional Trends Analysis, household consumption, APEC’s main driver of growth, improved to -3.9 percent in the second half of 2020 on a year-on-year basis, as compared to -7.0 percent in the first half of last year. Inv

We, the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) recall the APEC MRT Statement on COVID-19 issued on 5 May 2020, and reaffirm our commitment to effectively mitigate the economic impact of the COVID-19 pandemic, and promptly navigate the region towards a path of resilient, sustainable, inclusive and expedited economic recovery. We recognise the efforts being undertaken across the region for the wellbeing of our people and to optimise human

Interesting insights By Krasna Bobenrieth When COVID-19 first started to garner attention at the beginning of 2020, nobody foresaw the widespread health, economic and social impact it would have. While the world has experienced terrible pandemics before, it’s hard to remember one with such far reaching consequences in our lives, societies and economies, and that affected so many different parts of the world in such a short time. The region has already been experiencing trade

Industry leaders will give their perspectives on how to improve the Australian Customs System through the establishment of the Customs Advisory Board (the Board) The Board, whose ten members were selected from across Australian industry, will provide advice to the Australian Border Force (ABF) Commissioner as the ABF takes forward customs and border modernisation. “By creating a board of industry leaders with significant expertise in trade and travel, and seeking their advice

Trade and Industry Minister Chan Chun Sing announced on Tuesday (Jan 21) that negotiations on the Digital Economy Partnership Agreement (DEPA) have reached a substantial conclusion - meaning most of the points have been settled. Mr Chan said the wording of the agreement would be refined, adding that the three countries were targeting for a formal signing in time for the next Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade meeting, which is expected to

GTDW China Trade Development Week Welcomes Michael Ding, Chairman Quality Brands Assurance Committee China (QBPC) joining keynote speakers confirmed for the major program taking place Shanghai Pudong, 16-18 June 2020. With 800 international delegates, 80 speakers, 40 exhibitors and 2 major co-located conferences this years theme covers Digitalization, Standardization & Interoperability of Trade Technologies for legitimate & anti illicit trade. View Programme: http://bit.ly/2M

We are pleased to share details of the new APEC compendium which takes a detailed look at the current state of the APEC member single window systems focusing on the following: Use of WCO data model and or use of International Standards Messaging technology used Governance (government agency, private corporation, public-private partnership) IT infrastructure Openness to adopting international interoperability How responsive is the receiving NSW to requests from another NSW NSW

Imports and exports to China will be streamlined using Global Trade Item Numbers (GTIN) thanks to a resolution by Chinese Customs. The General Administration of Customs of China (GAC) rolled out a GTIN reporting function for its single window declaration system on 1 August 2019, marking a significant step toward adopting GS1 barcodes in customs clearance. The decision comes in response to recent rapid growth in cross-border trade, both in type and volume. Improving the effici