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APEC, Services, and Supply Chains

2014-02-14 14:44:31

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Past meetings of APEC have revealed great interest among APEC economies to focus more attention on services. Services, after all, constitute a large share of APEC economies’ GDP and, for most, the top source of employment. Services have also surpassed manufacturing as the largest source of productivity, especially in advanced economies . In this context, questions raised could be summarized into the following: what aspects of services should APEC focus on, which sectors to prioritize, and what role can APEC play? If any APEC-wide policies and programs to support services should be carried out, what should a program which APEC leaders could endorse look like?
 
Considering emerging trends in manufacturing and the increasingly appreciated importance of services for manufacturing performance and competitiveness, the above questions are highly significant. To assist with discussion on services, this policy brief provides a background of the ‘servicification’ trend in manufacturing, discusses previous and current APEC programs and projects related to services, and highlights areas for possible APEC discussion.

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