Chinese Taipei's Contribution Accelerates APEC's Path To Inclusive And Sustainable Growth

Issued by the APEC Secretariat
Singapore, 27 November 2024

Chinese Taipei has voluntarily contributed USD 1,000,000 in additional funding for APEC member initiatives to enhance human security, digital innovation and women’s economic participation, and establish greater economic integration across the Asia-Pacific.

Officials from Chinese Taipei and the APEC Secretariat in Singapore, which oversees projects implementing APEC’s policy directives, signed a Memorandum of Understanding for the contribution on Saturday, 9 November, in Lima, Peru.

This contribution will fund projects aimed at addressing the capacity building needs of member economies in agreed high-priority areas of inclusive and sustainable growth. It will also fund research conducted by the APEC Policy Support Unit to bolster joint work towards these goals.

“APEC’s role in fostering cooperation, driving innovation, and learning from shared challenges is essential for building a more sustainable, resilient, and inclusive future,” said Jonathan Chien-Yuan Sun, APEC Senior Official for Chinese Taipei.

“Chinese Taipei’s financial contributions to APEC’s capacity-building projects demonstrate our firm commitment to advancing its long-term goals of building innovative, secure, balanced, sustainable, and inclusive growth across the Asia-Pacific,” Sun added. “We look forward to continuing our support of APEC's project activities which are vital for building capacity and helping APEC members achieve our common goals.”

“The APEC Secretariat appreciates Chinese Taipei’s contributions to the APEC Support Fund, including the Human Security, Digital Innovation, and Women and the Economy Sub Funds, as well as the Policy Support Unit,” stated Dr Rebecca Sta Maria, executive director of the APEC Secretariat. “These contributions to capacity building initiatives within APEC enhance collaborative policy development and implementation, benefiting all member economies.”

APEC projects rely on funding from member economies. While each economy typically provides the necessary contributions for project execution, some members also make additional endowments to expedite specific initiatives.

“The emerging agreements and complementary trade measures being pursued in the Asia-Pacific are ambitious and hold the potential to create significant new economic opportunities for individuals and businesses throughout the region,” Dr Sta Maria concluded. “Creating more integrated and sustainable economies is a complex challenge that demands high levels of coordination and expertise, both within and among economies.

APEC members support approximately 100 projects annually to close knowledge and resource gaps and achieve shared goals. In 2024, over USD 19 million has been made available for funding capacity building initiatives like technical workshops, training sessions and research. Since APEC began its project work and established a Secretariat in 1993, more than 2,500 projects have been carried out, with as many as 150 projects potentially underway at any given moment.
 

© Scoop Media