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E-APEC Strategy Published
The Asia-Pacific Economic Cooperation (APEC) has mapped out an e-APEC strategy to maximize the benefits of the emerging New Economy.
According to the "e-APEC Strategy", which is an appendix to the APEC Economic Leaders' Declaration released here Sunday, the e- APEC Task Force which coordinates APEC initiatives to develop and expand the action agenda for the New Economy, has identified the necessary policy environment and specified approapriate goals and actions.
The APEC economic leaders say in the document that the strategy aims to develop a forward-looking and long-term plan under three major pillars, which feature an environment for market structures and institutions, infrastructure investment and technology development, and human capacity building.
"We urge economies to implement appropriate policies and actions to promote sustainable growth. These include: a sound macroeconomic policy framework, sustained structural reform, an effective competition regime, good financial and corporate governance, efficient venture capital markets, a sound legal framework for intellectual property, improved risk management, transparent decision making, robust institutional frameworks, flexible labor markets, and targeted social policies," the leaders say.
A policy environment conducive to competitive investment and the widespread uptake of beneficial technologies should be constructed, according to the leaders. The policies and actions needed in this regard include one-line transaction laws, continuing work on electronic authentication and signatures, the promotion of information security, personal data protection and consumer trust, balanced policies increasing access to digital information, the encouragement of standards development and conformance and others.
"It is vital to enhance human capacity building to establish a winning position in the New Economy," the leaders say, adding that entrepreneurship is fundamental to generating new ideas and developing new business opportunities.
The leaders call for the promotion of competitive, affordable and non-restrictive access for all and the development of reliable, fast and affordable non-IT services and distribution channels.
"In spite of the diversity and different developmental stages among the economies, we believe that, with the efforts of all the APEC economies, the e-APEC vision will be turned into reality," the leaders say.
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