The Lima Convention Center marked its tenth day of hosting delegations from the 21 Asia-Pacific Economic Cooperation (APEC) economies for the First Senior Officials’ Meeting (SOM 1) and related meetings.

Today, discussions centered around business formalization, trade and investment, as well as data flow and protection, which was also covered during the opening of the digital week of SOM 1.

Mr. Jose Luis Carrillo, Director General of International Trade Negotiations at the Ministry of Foreign Trade and Tourism (MINCETUR), shared insights from the 13th Ministerial Conference of the World Trade Organization (WTO) through a comprehensive presentation.

Key highlights from the presentation included the importance of multilateral cooperation in addressing various issues under discussion, including agriculture, fisheries subsidies, sustainable development, and e-commerce.

Additionally, delegates engaged in discussions concerning structural reforms necessary to facilitate the transition from informal to formal business practices, thereby fostering growth in diverse services across the region. APEC members agreed on the importance of capacity analysis and collaboration to achieve positive outcomes in this regard.