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Chinese Taipei voluntarily contributed USD 1.5 million in funding to support APEC members' efforts in fostering economic and technical cooperation through various initiatives and projects within the forum.
A memorandum of understanding outlining the donation was signed by Jonathan Chien-Yuan Sun, Chinese Taipei's APEC Senior Official, and Dr Rebecca Sta Maria, Executive Director of the APEC Secretariat.
The move will fund APEC projects through the remainder of 2023 and 2024, including those that support capacity building needs for APEC developing economies to obtain, share, strengthen, maintain and develop knowledge, abilities, skills and technical know-how to improve their policies and regulations or their institutional structures or processes.
"With this contribution, Chinese Taipei reaffirms our active engagement in APEC and tangible support for the organization especially in facilitating trade liberalization, digital innovation, promoting sustainable development, green growth, as well as enhancing economic connectivity and inclusivity across the Asia-Pacific region," Sun said.
"We have also extended our support to the Policy Support Unit to enhance APEC's analytical capabilities."
"We believe that the role that APEC play in fostering cooperation and incubating creative solutions to shared challenges while learning from each other will pave the way forward for a more sustainable and inclusive future," added Sun.
Chinese Taipei's donation will contribute to the forum's work to provide ongoing support for member economies to improve the growth of the digital economy in the Asia-Pacific region, through initiatives under the Digital Innovation Sub-Fund.
The funding will also support initiatives related to advancing women's economic participation as well as capacity building projects to develop and implement structural reforms that support sustainable growth. Funding will also support the APEC Policy Support Unit, the research and analysis arm for member economies.
"We appreciate this support for capacity building initiatives in APEC which has demonstrated the forum's commitment to addressing pressing regional issues, promoting sustainable development and fostering economic growth," said Dr Sta Maria.
"APEC projects highlight the strength of collaboration; they serve as valuable platforms for member economies to share best practices, knowledge, and innovative solutions-all aimed at enhancing the well-being of our diverse communities and achieving a more sustainable and inclusive future," Dr Sta Maria concluded.
APEC member economies fund around 100 projects annually to bridge their knowledge and resource gaps and better position them to adopt new policy solutions. In 2023, they contributed more than USD 2.3 million for projects such as technical workshops, symposia, seminars, training sessions and research. Over 2,500 have been undertaken since APEC initiated project work in 1993. Up to 150 projects may be under implementation at any given time.
