The APEC Business Advisory Council Philippines drew up specific recommendations to address the health and economic impacts of the pandemic during a series of virtual meetings from May until early June 2020.
The council aims to focus on four critical issues: strengthening digital connectivity, ensuring supply chain resilience, promoting open markets for goods and services, and supporting MSMEs.
“To a large extent, what we are experiencing at home is also experienced by our neighbors. As COVID-19 threatens long-term economic prospects and the livelihoods of people here and abroad, it is in our best interest to work with our colleagues to mitigate and draft our recovery plans,” said ABAC Philippines member Guillermo Luz.
The final discussion in June 2020 would consolidate the recommendations towards laying the groundwork for economic recovery in the region. The measures include keeping the supply chain and trade in goods and services open particularly for essential products like medicines, medical supplies and devices and food.