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Office of the Spokesperson
November 19, 2022
The United States congratulates Thailand on hosting a successful APEC year in spite of ongoing economic challenges brought on by the COVID-19 pandemic and Russia’s war against Ukraine. Throughout 2022, the United States worked with APEC economies to strengthen supply chain resilience and trade facilitation, build a more open digital economy, level the playing field and open markets in the region, advance women’s economic empowerment, and promote sustainable economic growth. Vice President Harris’s participation at the APEC Economic Leaders’ Meeting underscored the U.S. commitment to economic cooperation in the region. She previewed U.S. goals for our APEC host year in 2023 and announced San Francisco as the site of the 2023 APEC Economic Leaders’ Week . Leaders endorsed a consensus declaration as well as the Bangkok Goals on Bio-Circular-Green Economy and committed to achieving APEC economies’ ambitious sustainability and inclusion objectives. Secretary Blinken and U.S. Trade Representative Ambassador Tai joined their counterparts in issuing a consensus joint ministerial statement . We look forward to continuing to advance many of these priorities during the United States’ 2023 APEC host year.
WHY WE ENGAGE IN APEC
Through APEC, the United States seeks to advance a free, fair, and open economic policy agenda that benefits U.S. workers, businesses, and families. The 21 APEC member economies account for 38 percent of the global population, or 2.9 billion people, and approximately 47 percent of global trade. As of 2021, fellow APEC members were the destination for more than 60 percent of U.S. goods exports, and seven of the top 10 overall trading partners for the United States are APEC members.
As part of our enduring commitment to the region and broad-based economic growth, the United States is excited to serve as APEC host in 2023. Hosting APEC in 2023 will provide the United States with a unique opportunity to showcase U.S. economic leadership and multilateralism in the Indo-Pacific and highlight the direct impact of international economic engagement on prosperity here in the United States. Under the theme “Creating a Resilient and Sustainable Future for All,” we plan to build a more interconnected, innovative, and inclusive APEC region.
Through our APEC 2023 host year, we will seek to further U.S. economic engagement with the region. Regular exchanges among governments, business leaders – including through the APEC Business Advisory Council (ABAC) – and other stakeholders are critical to ensuring that APEC is delivering pragmatic solutions to the key challenges facing U.S. workers and businesses, both at home and in the region.
MAKING TRADE IN THE REGION FREE, FAIR, AND OPEN
The United States is committed to working with APEC economies to make trade a force for good that encourages a race to the top and delivers economic prosperity for our workers and all our people. U.S. priorities in APEC include making resiliency, sustainability, and inclusivity core values in trade policy choices; advancing the needs of U.S. workers, consumers, and businesses; and preparing other economies for participation in high-standard trade agreements. The United States works in APEC to advance the Administration’s trade agenda by:
SUPPORTING U.S. INNOVATION AND THE DIGITAL ECONOMY
COVID-19 has underscored the importance of the digital economy in driving economic growth, creating new jobs, and cultivating new markets and new industries in all APEC economies. A more open, interoperable, and secure Internet will benefit the U.S. economy, where the digital economy accounts for an estimated 10 percent of GDP. This year, United States promoted new, innovative digital technologies to respond to – and recover from – COVID-19 by:
HELPING U.S. COMPANIES DO BUSINESS
We work in APEC to improve implementation of economic policies, business regulation, and fair competition to level the playing field and open markets for U.S. companies. We also work with economies to implement good regulatory practices, break down barriers to business, and institute anti-corruption measures. Our work in APEC makes it easier for U.S. companies to do business in the region by:
EXPANDING WOMEN’S PARTICIPATION IN THE ECONOMY
One of our top priorities for APEC remains advancing women’s economic empowerment across the region. Greater economic participation and leadership from women, especially in the region’s post-pandemic economic recovery, will spur GDP growth and foster stability. Through APEC, we work to expand economic opportunities for women by:
PROMOTING HEALTHY, RESILIENT, AND SUSTAINABLE ECONOMIES
The United States works with partners in APEC to address external factors that affect economic participation, such as social protection, health, and environmental issues. Working to maintain healthy populations, build resilience, and promote the sustainable use of environmental resources are all necessary to maintain long-term economic growth. We work in APEC to mitigate the economic impacts of health and environmental challenges by:
For further information, please contact the Office of Economic Policy in the Bureau of East Asian and Pacific Affairs at [email protected].
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