Pomaleu says Apec can aid improvement of local plans

Asia-Pacific Economic Cooperation (Apec) meetings can be a platform to improve domestic policies despite members not being obliged to get into binding agreements, an official says.
Apec 2018 senior officials meeting chair ambassador Ivan Pomaleu told The National that it was the government’s prerogative as the host to implement discussion outcomes from the meeting.
This would in turn make the country more suitable for partnerships in investment from Apec countries, he said.
“While it is non-binding, it is also constructive on the basis of mutual consent on what needs to happen and is also played out in relation how countries are applying peer pressure on domestic regulations and policy changes,” Pomaleu said.
“For instance, when we go to Apec and talk about such matters surrounding the ease of doing business, about how each economy can restructure their processes to establishing new businesses, on how to establish foreign businesses and several other issues.
“There is the pressure to deliver under the commitments and understanding that this is the regional best practice.
“That’s normal and expected as participating members for an Apec meet.
“But when you are hosting and chairing these discussions, you are not just expected to facilitate and come up with outcomes but actually demonstrate as part of chairing.
“It is non-binding but there is peer pressure and even more so when you are chairing to stay committed and to make the most out of discussions through actually carrying out reforms from them.”