The Philippines, through the Board of Investments (BOI), is hosting the 24th Asia-Pacific Economic Cooperation Automotive Dialogue (APEC AD) starting today, May 25 until May 27, 2016 at the Makati Diamond Residences where discussions are expected to center on the current status of the Automotive Industry in the Asia Pacific Region and the ongoing initiatives of the working group.
The APEC AD serves as a forum for APEC member economy officials and senior industry representatives to work together to map-out strategies for increasing the integration and development of the automotive sector within the region. It is one of the Industry Dialogues under the APEC Committee on Trade and Investments along with the Chemicals Dialogue and Life Sciences Innovation Forum.
At the 22nd and 23rd APEC AD also chaired by the Philippines through BOI, the vital role of SMEs in the automotive manufacturing industry and their integration into the regional and global markets where two workshops on the experiences and best practices of some SMEs in their participation in the GVCs were highlighted. The meeting also hosted various initiatives focusing on SMEs and their needs to better participate in GVCs including the study on the GVC-SME Automotive Sector (GSAS) conducted by Malaysia and Philippines with the aim of gathering information on automotive industry SMEs in the Asia-Pacific region, particularly the barriers they encounter in their endeavor to penetrate the international trading system.
“As a follow through, the APEC AD hopes to identify and develop a capacity building action plan for SMEs based on the findings of the study,” said BOI Executive Director for Industry Development Services Ma. Corazon Dichosa, also the APEC AD chair. “A compendia on motor-vehicle related taxes as well as automotive business regimes were also initiated to provide member economies with up-to-date vital information on the automotive sectors in the region. These aims to provide the auto industry, particularly SMEs with information to aid them in penetrating the GVC, e.g. market size of the economies, business regulations,” she said.
At the 24th APEC AD, the working group will discuss updates on APEC Developments, as well as the AD’s workplan until 2017.