APEC 2015 Hosting to Boost Cebu Economy

(PIA-7) — Cebu’s hosting of this year’s APEC meetings is expected to drive local trade and tourism.

Ambassador Marciano A. Paynor, Jr., APEC 2015 National Organizing Committee (NOC) Director General, said that Cebu, being a manufacturing center and an export center, will benefit from hosting some of the ministerial meetings.

“Our total trade with APEC member economies is 80 percent, and because Cebu is a manufacturing and an export center, then definitely Cebu is affected by APEC policies and improvements,” said Paynor in a press conference after his first meeting on May 14 with Cebu’s local organizing committee members at the Capitol.

Statistics released by APEC NOC show that 80.7% of total trade and 80.81% of the total tourist arrivals in the Philippines are from APEC member countries.

Total external trade for 2013 with APEC member countries amounted to $96.104-B.

Cebu will be hosting a series of meetings from August 24 to September 11, with more than 3,000 international delegates expected to be coming in and out of Cebu during said period.

Cebu was also designated as the de facto alternate venue for any meeting that will not be held in its assigned area due to weather issues.

“In the event that any meeting elsewhere cannot be held where they are due to weather disturbances or natural calamities, we will transfer it here,” said Paynor.

Cebu was chosen as the alternate venue due to the number of facilities for conference services and hotels and the presence of an international airport here. (rmn/PIA7-Cebu)