By 2050, the world will need 40% more water and 60% more food to feed 9.7 billion people. Increasing demand for food in the midst of resource scarcity, climate change, urbanisation and changing diets will put the Asia-Pacific region's food security under pressure, threatening long term economic growth and the well being of populations. Industry executives and APEC ministers believe strategies for the future include addressing trade and regulatory barriers that impact the food industry, overcoming sustainability challenges, leveraging new technology tied to the production and distribution of food and closing infrastructure gaps in the region.
Against the backdrop of a slowing global economy, Asia Pacific Finance Ministers, senior leaders from multilateral institutions and over 30 private sector experts convened in Lima, Peru to discuss how to drive and finance sustained, inclusive and resilient growth. At the heart of the discussion was a shared understanding that better financial infrastructure is needed to spur regional trade and investment, new infrastructure development, greater financial inclusion, and enhanced preparedness to deal with natural disasters. PwC produced a video and report that captures their insights on key issues and views on what the future holds for the region.
APEC accounts for 70% of global mining production and consumption. With demand increasingly coming from products that advance digitization, new Industrialization and rapid urbanization, APEC ministers and industry executives see the need for more focus in these three areas: benchmarking and competitiveness, transparency and the rule of law, and building skills as technologies transform the industry.
APEC economies trade US$22tn in goods and services. Yet with public concern rising, how can the benefits of free trade spread to all? Participants identified three fundamental needs: Predictability that allows businesses to make market driven investment decisions; support for trade and investment that is beneficial to global as well as local companies; and, greater public-private sector collaboration.