November 16 - The 30th APEC Leaders' Summit in San Francisco, California marks another milestone for 21 participating economies as President Joe Biden hosted meetings with APEC leaders and set a tone for de-escalating tensions amid ongoing wars in Ukraine and Gaza. President Biden also hosted 13 participating states of the Indo-Pacific Economic Framework (IPEF). Representing the Philippines, President Ferdinand Marcos, Jr. attended the conferences under the two multilateral cooperation forums.

Asia-Pacific Economic Cooperation (APEC)

Photo: APEC Leaders Group representing economies from both sides of the Pacific Ocean including 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 Philippines; the Russian Federation; Singapore; Chinese Taipei; Thailand; the United States of America; Vietnam. November 16, 2023. RTVM photo.

APEC accounts for more than 60 percent of the global GDP. The region is projected to be the largest contributor to global economic growth in the next 30 years.

The Philippines reported that APEC Economies account for 85 percent of the country’s total exports and imports, and approximately 56 percent of foreign direct investments in the country. Eleven of the Philippines’ top 15 trading partners are APEC member economies.

In his remarks, President Biden cited the strength of the U.S. economy as a leading and driving force of economic growth in the region attracting $200 billion investments from Asia Pacific companies in the United States. More than 60 percent of U.S. exports are directed back in APEC economies. He further assured leaders that American companies are committed to high standards, fair practices, innovation and workers' protection making the U.S. a "strong and steady partner" in working together to realize the goals of a prosperous and secure Asia-Pacific region. 

On the sidelines of APEC, President Biden and PRC President Xi Jinping agreed to resume bilateral cooperation to combat global illicit drug manufacturing and trafficking, high-level military-to-military communication, and discussed key regional and global challenges. President Biden underscored the United States’ ironclad commitment to defending its allies and support for a free and secure Indo-Pacific.

Indo-Pacific Economic Framework (IPEF)

Between meetings, President Joe Biden and President Ferdinand R. Marcos, Jr. and 12 other leaders under IPEF gathered for a group photo and a few offered remarks on the successful conclusion of negotiations on three (Clean Economy, Fair Economy and Supply Chain) of the four pillars under IPEF. Since its launch in May 2022, IPEF partners held various consultations and listening sessions between government, non-government and other stakeholders. These agreements will further undergo the IPEF partner's domestic processes for signature and ratification.

Factsheet: IPEF Leaders Announce Key Outcomes to Fuel Inclusive, Sustainable Growth as Part of the Indo-Pacific Economic Framework for Prosperity

Signing of the U.S.-Philippines Nuclear Energy Agreement

For the Philippines, Department of Energy (DOE) Secretary Raphael Lotilla signed the 123 Agreement with US Secretary of State Antony Blinken. Secretary Blinken noted that with the agreement, the bilateral cooperation will accelerate the transition to clean energy in the Philippines. Secretary Lotilla noted that the agreement is in accordance with the standards set by the International Atomic Energy Agency and will also facilitate other peaceful uses of atomic energy in plant breeding, livestock production and insect pest control.

Statement: United States Signs Civil Nuclear Cooperation Agreement

In a statement released by the Department of State, the U.S. and Philippines will engage in peaceful nuclear cooperation based on a mutual commitment to nuclear nonproliferation and is required by U.S. law to allow for the transfer of nuclear equipment and material for peaceful uses. The Philippines will have access to U.S. material and equipment to deploy advanced new technologies, including small modular reactors, to support climate goals as well as critical energy security and baseload power needs within the Philippines.

This agreement contains a nonproliferation criteria that both governments must uphold safety standards for covered items used in civil nuclear energy programs, including International Atomic Energy Agency safeguards; physical protection of covered items; and limitations on enriching, reprocessing, and transferring specific items without the other Party’s consent.

Photo: Secretary Raphael Lotilla and Secretary Antony Blinken with President Ferdinand Marcos, Jr and Assistant Secretary for East Asian and Pacific Affairs Daniel Kritenbrink. Photo screenshot from RTVM media

Photo: President Ferdinand R. Marcos, Jr. and VP Kamala Harris. Photo by PCO

US-Philippines Society at APEC Meetings

Philippine and American members of the US-Philippines Society, including Co-Chair Manuel V. Pangilinan, and Directors Jaime Augusto Zobel de Ayala and Enrique Razon, supported private sector and government initiatives taken at 2023 APEC with a theme of "Creating a Resilient and Sustainable Future for All."

Photo: On the sidelines of APEC, US-Philippines Society member Brian Buzzell and corporate executives from Chicago-based S&C Electric Company met with Secretary of Energy Raphael Lotilla to discuss options to modernize the Philippine power grid. A similar meeting was held the following morning with Secretary of Transportation Jaime Bautista with the discussion focused on identifying and providing solutions to eliminate power outages at Ninoy Aquino International Airport and other airports throughout the Philippines primarily in Cebu and Davao. At the request of Secretary Bautista, S&C Electric will be sending a technical survey team to Manila.

USPHS Director Henry B. Howard and Member Christina Laskowski attend the APEC CEO Summit, San Francisco, CA

Marsman Drysdale President George Drysdale and Director Henry B. Howard