APEC Group meets in Manila to discuss combating economic downturn and improving trade

Professor Patrick Sherry, a faculty and board member of the Intermodal Transportation Institute (ITI) at the University of Denver recently addressed the 6th Annual Asia-Pacific Economic Cooperation (APEC) Transportation Ministers Meeting in Manila, Philippines, and told delegates that continued investments in transportation infrastructure remained critical to sustaining global economic growth.

The meeting, which was attended by the Transportation Ministers of the 21-member economies of APEC, was held to reaffirm the continued facilitation of economic growth, cooperation, trade, and investments in the Asia-Pacific Region, while also addressing significant regional economic downturns over the past two quarters. Dr. Sherry, who was invited as a special instructional speaker, told the group that: “Despite the recent downturn in global economic activity, regional investments in high-speed rail to move people and heavy rail to move more freight, combined with human capital and workforce development, are critical components of a competitive infrastructure and are needed throughout Asia-Pacific to improve productivity and stimulate international trade for their economies.”

APEC Ministers detailed their economic plans and investment strategies designed to address the global economic downturn, as well as discussing piracy off the coast of Africa and global health concerns as they affect global trade.‘In support of Sherry’s hypothesis, several economies touted the magnitude of their investment in human capital, workforce development, and job retraining as essential components of a comprehensive economic stimulus and recovery package.

Dr. Sherry will lead a team of distinguished professors to Vietnam later this year to conduct an APEC workshop on global supply-chain development. ‘Training the top business and policy leaders is crucial to obtaining the leadership qualities necessary to establish an effective seamless and sustainable global supply-chain network,” he said. “APEC leaders have committed to training key government officials, entrepreneurs, and business leaders in the important skills and technologies needed to promote and liberalize trade in the region and beyond.”’(ITI)