Japan donates to APEC fund to support regional economic growth
Japan has donated an additional JPY 52.3 million (approximately US$ 640,000) to bolster APEC’s capacity building work and help promote economic growth throughout the Asia-Pacific region.
Japan’s contribution is for future APEC projects that focus on building the skills, knowledge and overall capacity of developing member economies to benefit from international trade and increase economic development and growth.
APEC Secretariat Executive Director, Ambassador Muhamad Noor, thanked Japan for its ongoing support for APEC, saying the donation would enhance APEC’s agenda of providing training and cooperation to advance economic development in the region.
“I thank Japan for the generous contributions that are critical for APEC to implement APEC Leaders’ priorities,” Ambassador Noor said.
“The donation is a reflection of Japan’s continued commitment to international cooperation despite the recent devastating earthquake and tsunami.”
The APEC Secretariat and Japan signed a memorandum of understanding on May 2 for the contribution of JPY 30 million and JPY 22.3 million to the APEC Support Fund (ASF). The first tranche was received in March and the remaining amount in April.
The donation comes ahead of a meeting this month of APEC Senior Officials in Big Sky, Montana and a meeting of APEC Trade Ministers as well as Small and Medium Enterprise Ministers.
The contribution is Japan’s latest to the ASF, after committing JPY 360 million, (then approximately US$ 3.9 million) last June to promote energy efficiency activities and low-carbon measures in APEC. That MOU between Japan and the Secretariat was signed on the margins of the meeting of Energy Ministers in Fukui, Japan.
The ASF was set up in 2004 to specifically focus on projects for developing economies in APEC. Voluntary contributions can be made by member economies and private donors. The fund complements two other APEC accounts that also fund projects in the region.
In total, 146 APEC projects are currently in train to a value of around USD 13 million. Many are based on traditional trade-related areas such as improving customs procedures, supply chain connectivity and foreign investment. Others are focused more on building a positive trade environment, such as emergency preparedness and human resource development.
Although APEC projects cover many areas, there is consistent focus on transferring knowledge and skills between members to build capacity. Members can then use this information and expertise to liberalise, facilitate and increase trade and boost economic growth.
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For more information, contact: Trudy Harris + 65 6891 9671 or + 65 98983710 at [email protected]