ASEAN, APEC, G20 to jointly work on infrastructure

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APEC
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Senior officials of Asia-Pacific Economic Cooperation (APEC) , G20, and the Association of Southeast Asian Nations (ASEAN) have met for the first time on July 5 t0 6 at a summit in Medan, Indonesia, to identify synergies and recommend a way forward on joint connectivity and infrastructure development.

The meeting was also attended by representatives from the private sector, think-tanks, academia and multilateral development banks.

“In particular, we would like to recommend APEC senior officials and leaders to support a small number of flagship joint connectivity and infrastructure projects and set up a public-private working group to manage its implementation,” Indonesian Vice Minister of Finance, Mahendra Siregar, said in a press release after the event.

“For example, a possible joint flagship project might focus on improving and developing efficient ports and airports to reduce the cost of international commerce and allow more population centers to become engaged in production networks,” added Vice Minister Mahendra.

Experts also recommended APEC, G20 and ASEAN work together to reduce the time it takes from project approval to operation as income streams are critical to private sector involvement.

APEC is currently developing an ambitious plan that will deepen and broaden the region’s connectivity around and across the Pacific Ocean and within APEC’s archipelagic and continental regions. It focuses on three pillars: physical connectivity, institutional connectivity and people-to-people connectivity.

ASEAN and G20 are also engaged in similar efforts. In ASEAN, the emphasis on connectivity and infrastructure is towards achieving the ASEAN Economic Community in 2015. In the G20, the focus is on developing infrastructure as a means to achieve strong, sustainable and balanced global growth and as part of “growth through quality jobs and investment.”

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Reading Time: 2 minutes

Click to enlarge

Senior officials of Asia-Pacific Economic Cooperation (APEC) , G20, and the Association of Southeast Asian Nations (ASEAN) have met for the first time on July 5 t0 6 at a summit in Medan, Indonesia, to identify synergies and recommend a way forward on joint connectivity and infrastructure development.

Reading Time: 2 minutes

APEC
Click to enlarge

Senior officials of Asia-Pacific Economic Cooperation (APEC) , G20, and the Association of Southeast Asian Nations (ASEAN) have met for the first time on July 5 t0 6 at a summit in Medan, Indonesia, to identify synergies and recommend a way forward on joint connectivity and infrastructure development.

The meeting was also attended by representatives from the private sector, think-tanks, academia and multilateral development banks.

“In particular, we would like to recommend APEC senior officials and leaders to support a small number of flagship joint connectivity and infrastructure projects and set up a public-private working group to manage its implementation,” Indonesian Vice Minister of Finance, Mahendra Siregar, said in a press release after the event.

“For example, a possible joint flagship project might focus on improving and developing efficient ports and airports to reduce the cost of international commerce and allow more population centers to become engaged in production networks,” added Vice Minister Mahendra.

Experts also recommended APEC, G20 and ASEAN work together to reduce the time it takes from project approval to operation as income streams are critical to private sector involvement.

APEC is currently developing an ambitious plan that will deepen and broaden the region’s connectivity around and across the Pacific Ocean and within APEC’s archipelagic and continental regions. It focuses on three pillars: physical connectivity, institutional connectivity and people-to-people connectivity.

ASEAN and G20 are also engaged in similar efforts. In ASEAN, the emphasis on connectivity and infrastructure is towards achieving the ASEAN Economic Community in 2015. In the G20, the focus is on developing infrastructure as a means to achieve strong, sustainable and balanced global growth and as part of “growth through quality jobs and investment.”

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