PRESIDENT Benigno S. Aquino III is leaving today to attend the 24th Asia-Pacific Economic Cooperation (APEC) 2012 Summit on September 7-9, 2012, on Russky Island near the port of Vladivostok in the Russian Federation. The APEC Summit provides a venue for business executives in Asia-Pacific to dialogue with APEC Leaders and Ministers of Foreign Affairs and Trade, tap business opportunities through networking with Chief Executive Officers from top Asia-Pacific Companies, and forge connections with Economic Leaders worldwide.
President Aquino, along with Heads of State of 21 APEC member-economies, will discuss issues related to energy and food security, high technologies and environmental economics, and partnerships to enhance regional trade and investments. The Leaders are expected to act on recommendations on energy, food, transport, and mining that were taken up in the ministerial meeting.
APEC was established in 1989 to enhance economic growth and prosperity as well as strengthen the Asia-Pacific community. The Philippines joined APEC on November 6, 1989. Between 1989 and 1992, APEC met as an informal senior official and ministerial-level dialogue. In 1993, the annual APEC Economic Leaders' Meeting was established. …