US Exports to APEC Economies Grow Much Faster Than Exports to Rest of The World

Director David M. Luna for Anticrime Programs, Bureau of International Narcotics and Law Enforcement Affairs today reported that U.S. exports to APEC economies grow much faster than exports to the rest of the world.

In his remarks “Transforming Partnerships Across Asia and the Pacific To Combat Corruption and Ensure Ethical Conduct: Open Government, Clean Trade, and Integrity in Markets and Supply Chains” at New Delhi, Mr. Luna said for the United States, APEC accounts for 58 percent of U.S. goods/exports, and seven of our top trade partners are in APEC.

“Due to the dynamism of APEC markets, a 5 percent increase in exports to APEC economies would add hundreds of thousands of jobs to the U.S. economy.” -Mr. Luna

According to Mr. Luna, APEC is the premier Asia-Pacific economic forum through which 21 economies have united to build a dynamic and harmonious Asia-Pacific community by championing free and open trade and investment, promoting and accelerating regional economic integration, encouraging economic and technical cooperation, enhancing human security, and facilitating a favorable and sustainable business environment.

The 21 APEC economies are as follows: Australia; Brunei Darussalam; Canada; Chile; People’s Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Republic of the Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America; and Viet Nam. Twelve of our APEC members are also active in your initiative.

“APEC’s 21 member economies today account for 55 percent of global GDP, 43 percent of world trade, and comprise a market of 2.7 billion consumers.” -Mr. Luna

Mr. Luna stressed that as the host of APEC in 2011, the United States is focusing on three priority themes for this year, reflecting many of the challenges and opportunities facing public and private sectors across the Asia Pacific region:

  • Strengthening regional economic integration and expanding trade;
  • Promoting inclusive, sustainable, green growth; and
  • Advancing regulatory convergence and cooperation.

    He highlighted that in APEC, they are addressing corruption by sharing their good governance practices and experiences with each other, including by exchanging information on their respective laws, what they do to publicize their enforcement efforts, and what their respective business communities are doing to ensure that they have effective compliance programs to prevent and detect corruption and bribery.

    “Moreover, we are also investing in a broad array of capacity-building programs that help sharpen the capabilities of the APEC anti-corruption agencies and law enforcement communities to prevent, investigate, and prosecute corruption.” -Mr. Luna

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