Apec looks into improving reg’l transport system
An Asia-Pacific Economic Cooperation (Apec) working group meeting, now underway, seeks ways to improve transport and logistics within the region.
Chaired by Vietnam’s Ministry of Transport, the 37th Apec Transportation Working Group Meeting opened yesterday and will end on Friday.
Attending the meeting are 16 Apec members and representatives from the Apec Business Advisory Council, Committee on Trade and Investment, Environmental Working Group, Counter-Terrorism Task Force, Apec Policy Partnership on Women and the Economy.
The participants will discuss issues related to aviation, maritime traffic, road traffic, transport security, energy and others.
The Asian-Pacific region is the most rapidly developing area in the world. In upcoming years, experts predict a significant growth of the regional countries’ cargo turnover.
With promising growth of exports, logistics infrastructure must be expanded, and new transportation routes built.
The efficient and safe transportation of goods and people is still key to Apec’s goal of free and open trade in the Asia-Pacific region.
During previous meetings, Apec economies targeted sustainable and efficient supply chain systems that enhance cross-border business linkages in the Asia-Pacific region and improve connectivity.
This would support trade volume growth through diversification of routes that make the movement of people and goods easier, safer and faster.
The goal of Apec economies is to achieve a 10 per cent increase in regional supply-chain performance by 2015.