by: Johanna Macababbad || Photo Credit: PBBM’s Official Facebook Page/Xinhua

“Dark clouds loom large if we are not to be prepared. They loom on the economic horizon, and now, more than ever, our governments and economies must work closer and better together as partners in order to find that break in the clouds where the light of hope and progress can shine through.”

President Ferdinand “Bongbong” Marcos Jr. opened during the Asia-Pacific Economic Cooperation (APEC) CEO Summit 2022 held in Bangkok, Thailand, last November 17, 2022, with the theme “EMBRACE, ENGAGE and ENABLE.”

The APEC CEO Summit is a three-day open forum held from November 16 to 18, where CEOs and top executives discuss issues and possible solutions with APEC leaders. It is an economic forum where 21 countries in the Asia-Pacific gather and discuss economic integration in their respective regions. As for this year’s event, it focused on the plans for a post-COVID-19 economic climate.

Marcos stressed that there are three main hindrances to fostering growth; thus, addressing their structural and policy issues can aid the economy in rapidly recovering from the pandemic.

“Food security must be a top priority for all governments, and developing economies especially must have the policy flexibility needed to ensure an increased domestic food production and diversification, and to improve the local agricultural supply and value chain,” he said regarding the first issue.

He also emphasized the importance of establishing and strengthening global health systems against emerging infectious diseases and improving governments’ pandemic response, in which he proposed ratifying the One-Health approach and improving the health surveillance of new or re-emerging illnesses.

“Climate change, the most pressing existential challenge of our time… Stronger action is required… Diversification into renewables and other resources is imperative… The Philippine government will work closely with the private sector to improve the resilience of people and businesses by leveraging the tools for sustainability,” Marcos noted while referring to programs such as Thailand’s Bio-Circular-Green Economy model.

The Philippine President concluded his talk by recognizing the purpose and importance of the APEC and its open environment in formulating economic and trade ideas and solutions to pressing global problems. 

“Prosperity and progress is [are] only possible in a world that is at peace because we, as nations of the world, can never reach our full potential unless we do it together,” he added.