The Third Senior Officials’ Meeting (SOM3) of APEC 2024 brought together leaders and experts to address some of the most pressing challenges in the evolving digital landscape. Central to the discussions were the themes of digital policy, the integration of artificial intelligence (AI) into economic frameworks, and the future of work in a rapidly digitalizing world. The meeting underscored the need for collaborative approaches that balance innovation with inclusivity, ensuring that technological advancements benefit all sectors of society.
Olivia Burzynska-Hernandez and Spencer from Access Partnership’s Tech-Enabled Verticals team at an Economic Committee Workshop.
Below are the key takeaways from the discussions.
1. Empowering MSMEs in the Global Economy
During the Public-Private Capacity Building Workshop on Enabling MSMEs to Grow in the Global Economy by Operating Seamlessly Across the Omni-Channel Environment, discussions centered on creating inclusive opportunities for micro-, small-, and medium-sized enterprises (MSMEs) by integrating physical and digital channels, commonly referred to as the omni-channel by the Organization for Economic Cooperation and Development (OECD). Key topics included accessibility for women and minority-owned businesses, digital upskilling, expanding access to finance, and overcoming barriers in international trade. A significant point was the urgent need for digitalization, particularly in leveraging mobile-first approaches, to address the challenges MSMEs face in balancing traditional work with digital processes. The importance of building trust through people-centered design was highlighted as essential for fostering public-private partnerships that support MSME growth.
2. Trade Facilitation and Low-Value Shipments
Improving regulatory procedures for low-value shipments was emphasized as crucial for enhancing MSME participation in e-commerce, during the workshop on Promoting MSME Engagement in E-Commerce through Improved Regulatory Procedures for Low-Value Shipments. The discussions highlighted the integration of digital tools to streamline customs processes and manage risk assessment more effectively. In particular, there was a focus on how digital platforms can simplify these processes, making them more accessible for MSMEs while ensuring compliance and security in international trade.
3. Digital Economy and Regulatory Frameworks
The importance of adopting and harmonizing regulatory frameworks that support the digital economy, especially in areas such as data privacy, AI governance, and digital identity systems, was a key focus during the Digital Economy Steering Group (DESG) Plenary. Discussions emphasized the need for inclusive digital tools developed in collaboration with trusted businesses to enhance public policy. These tools are particularly valuable for capturing the lived experiences of stakeholders, thus allowing for more effective and responsive regulatory practices across APEC economies.
4. Transition from Informal to Formal Economies
APEC officials highlighted the benefits of transitioning businesses from informal to formal economies, with insights drawn from the 16th Alliance for Supply Chain Connectivity (A2C2) Meeting. The session explored the motivations behind this shift and the importance of using digital tools to amplify the voices of those in the informal sector. There was a strong focus on the role of unique identifiers and regulatory incentives in facilitating this transition, coupled with the need for continuous engagement with grassroots stakeholders to build trust and ensure that implemented policies are effective.
5. Innovation in Good Regulatory Practices
During the 17th Conference on Good Regulatory Practices, discussions focused on the role of good regulatory practices (GRPs) in promoting competition and productivity. The conference called for greater reliance on GRPs to enhance regulatory governance and support the transition to formal economies. A key takeaway was the emphasis on the use of digital platforms to incorporate real-time feedback from stakeholders, which can help shape more effective and inclusive regulations. This approach was presented as a model for how businesses can contribute to better regulatory outcomes by actively engaging with and understanding the needs of diverse communities.
6. Artificial Intelligence and the Future of Work
During APEC Digital Week, discussions highlighted the importance of developing regulatory approaches to AI that benefit the digital economy. Key considerations included the ethical use of AI, the impact on the workforce, and the need for policies that bridge digital divides. The meeting stressed that AI should be used to enhance human roles rather than replace them, with a focus on leveraging public-private partnerships to ensure the sustainable development and implementation of AI-enabled technologies.
The APEC calendar next turns to the following events:
- High-Level Dialogue on Mining (11 September)
- Small and Medium Enterprises Ministerial Meeting (13 September)
- Finance Ministerial Meeting (18-21 October)
- APEC Economic Leaders (heads of state and government) (15-16 November in Lima)
Access Partnership was involved in several meetings during APEC Digital Week. For more information, please contact Patricia Wu at [email protected] or Peter Lovelock at [email protected].
