Subscribe to our free, weekly email newsletter!



APEC pledges to create “seamless regional economy”

By Patrick Burnson, Executive Editor
March 14, 2011

While most of the world’s focus was on Japan’s response to its earthquake and related crisis, trade experts were quietly working behind the scenes in Washington last week to establish a long-term strategy for rebuilding that country’s economy.


“The U.S. wants to build towards the goal of a ‘seamless regional economy’ that produces economic growth, employment and prosperity across the Asia-Pacific region,” said senior White House official Michael Froman in his capacity as Chair of the 2011 Asia-Pacific Economic Cooperation (APEC). Senior Officials’ Froman is also the Deputy Assistant to U.S. President Barack Obama and Deputy National Security Advisor for International Economic Affairs.


Froman opened the meeting with an expression of condolence and solidarity to Japan on behalf of the United States and all APEC economies, in light of the tragic March 11 earthquake and tsunami.  Against that backdrop, Senior Officials pledged to redouble APEC’s efforts in disaster preparedness and recovery.


APEC senior officials held their first meeting during the United States’ host year in Washington, DC last Saturday to discuss priorities for 2011. Specifically, they are looking to identify practical and concrete initiatives in 2011 to: 1) Strengthen regional economic integration and expand trade, 2) Promote green growth; and 3) Advance regulatory convergence and cooperation.


“The United States sees 2011 as an important year to reaffirm and strengthen our ongoing commitment to the Asia-Pacific – in particular, our economic engagement with economies throughout the region,” said Froman.  “We see our participation in and hosting of APEC as vital to this effort.”


In addition, the U.S. is advancing ways to streamline and strengthen the way APEC does business by focusing on solving problems and achieving clear, meaningful progress toward APEC goals with input from the private sector.


“Throughout 2011, we plan to hold multiple private sector-led activities on topics ranging from energy and transportation to innovation and trade, food security, and women’s entrepreneurship that will allow APEC officials to draw upon recommendations from industry and other stakeholders when developing initiatives and outcomes.”


“These are all big issues that present real challenges to our economies and to the future of this organization.  If we are going to be successful in addressing them, we will all need to work together, to think outside the box, and to push ourselves to truly ‘get stuff done’ in 2011,” said Froman concluded.


For related stories click here.

About the Author

image
Patrick Burnson
Executive Editor

Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

The PMI, the ISM’s index to measure growth, increased 1.8 percent to 57.1 in July. This is 1.8 percent higher than the 12-month average of 55.3. The PMI has grown in 18 of the last 20 months, with economic activity in the manufacturing sector expanding for the last 14 months as the overall economy was up for the 62nd consecutive month.

YRC Worldwide, whose regional and long-haul units provide the second-largest LTL capacity in the trucking industry, narrowed its second-quarter loss to $4.9 million on $1.32 billion revenue, compared with $15.1 million loss on $1.24 billion revenue in the year-ago quarter.

With NFL training camps in full swing, it stands to reason that Congress must be replete with football fans, given how it basically has elected to punt on federal transportation funding yet again, with the Senate yesterday signing off on a ten-month bill to keep federal surface transportation funding intact through May 2015 through a nearly $11 billion stopgap measure.

Carload volumes were up 4.3 percent at 306,988, and intermodal volume for the week ending July 26 was up 3.3 percent at 264,809

Lyon, France-based Norbert Dentressangle, a $5.5 billion global third-party logistics (3PL) services provider focused on global logistics, transport, ocean, and air services, said today it has acquired Des Moines, Iowa-based Jacobson Companies, a value-added warehousing (VAW) company, for $750 million from private equity firm Oak Hill Capital Partners.

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA