The service trade development in APEC region

Развитие торговли услугами в АТЭСThe Public-Private Dialogue on Services was held on 23rd February, in Nha Trang, Vietnam in the framework of the First Senior Officials’ Meeting and Related Meetings. The key objectives of the Dialogue were the formation of understanding among the participants of current activities implemented by APEC in the services sector, identifying the key problems faced by service providers in the APEC economies’ markets, as well as the development of recommendations to the Group on Services in the field of service trade promotion.

The main focus of the Dialogue was made on the key barriers to trade that companies face in logistics, transportation and distribution services sectors. The meeting involved presentations made by the representatives of both think tanks and individual companies operating in these service sectors.

The participants stressed the importance of each sector in the promotion of trade, economic growth and the solution of non-economic sustainable development problems. In particular, representatives of the logistic services sector drew attention to the extremely high value of logistics costs, which accounts for almost 25% of the total trading costs in the Asia-Pacific region. The participants agreed that reducing such costs would significantly boost trade and GVC development.

A separate session was devoted to the development of trade in transport services. In addition to the key role of transport in promoting international trade, participants also discussed the need to reduce the social costs associated with the increased use of vehicles, including those based on unmanned technology.

As part of the session on distribution services, the participants underlined their role in the development of domestic production, job creation and the efficient allocation of resources. In addition, participants stressed the high speed of the changes occurring in the sector as a result of the development of internet technologies.

The participants welcomed the work on the implementation of the APEC Services Competitiveness Roadmap aimed at increasing the volume of trade in services through the elimination of barriers that service suppliers face in the APEC markets.

Поделиться новостью: