APEC is very important region and driver of future global growth: U.S. scholar

The Asia-Pacific Economic Cooperation (APEC) is a very important region and driver of future global growth, said a professor at Georgetown University's McDonough School of Business.

The professor, Arthur Dong made the remarks ahead of this year's APEC meeting, which will be held in Peru from Nov. 10 to Nov. 16 under the overarching theme of "Empower, Include, Grow."

"It is one of the largest multilateral trade organizations in the entire world. And when you look at the significance of APEC, in terms of their size, almost two thirds of global trade is conducted within this body. This is quite a remarkable sort of story of growth," he said.

Established in 1989, the organization has evolved into one of the largest multilateral trade bodies in the world. Originally founded with twelve members, including the United States, Australia, Japan, and Malaysia, APEC welcomed China in 1991, followed by Peru, Russia, and Vietnam in 1998. Since then, the forum has expanded its reach and significance, particularly in light of China's rapid economic development.

China's ascent has been pivotal to APEC's growth. In 1991, the country's GDP was less than 400 billion U.S. dollars; today, it's about 18 trillion U.S. dollars.

"China's role has been enormous. This was a pivotal period in China's opening and reform period, where China really started to accelerate its opening up to the rest of the world. China is a very important trade partner, and a very important member, disproportionately also, as a part of this trade body," Dong said.

Currently, APEC economies account for approximately 60 percent of global GDP, and with continuous economic growth projected in the Asia-Pacific region, the forum's importance is expected to rise.

"This is an organization that's at the right time and at the right place. GDP is growing at a level that's greater than other parts of the world. So, all those things taken into consideration make APEC and the APEC member region, a very important region and driver of future global growth," Dong said.

Bringing together around 20,000 participants, including heads of state and dignitaries from 21 member economies across Asia, the Pacific, North America, and South America, APEC aims to foster sustainable economic growth and prosperity in the region.

APEC is very important region and driver of future global growth: U.S. scholar

The Islamic Resistance Movement (Hamas) is ready to completely withdraw from the governmental scene in the Gaza Strip and engage in a positive and constructive manner with the second phase of the plan to end the war in the enclave, said Hamas political bureau member Basem Naim on Friday. In a statement, Naim said that the ceasefire deal became an international plan after being adopted by the United Nations Security Council. However, it is now facing obstacles.

He accused Israeli Prime Minister Benjamin Netanyahu of reneging on his commitments and escalating the situation, in an attempt to return to war and save his political career. Pointing out that Israeli strikes have caused hundreds of casualties since the announcement of the ceasefire, the Hamas official said the escalation cannot occur without cover or green light from the United States. He said Hamas has committed to all its obligations under the ceasefire agreement, as attested by the mediators and the U.S., adding that it is ready for the second phase of the agreement.

He emphasized the Movement's commitment to the establishment of a fully empowered Palestinian body to administer Gaza, and its complete withdrawal from the governmental scene.

Naim warned that the situation will not be sustainable if the continued escalation of Israeli military operations and the persistence of the catastrophic humanitarian situation remain unaddressed, adding that the circle of fire may expand, which is what Netanyahu aspires to.

Since a ceasefire took effect on Oct 10, 2025, Gaza's death toll has risen to 439 with 1,223 injuries, according to local health authorities on Friday. Rescue teams have recovered 688 bodies during that period. In the broader conflict, at least 71,409 Palestinians have been killed and 171,304 wounded since Israel's military campaign in Gaza began in October 2023.

Hamas ready for complete withdrawal from Gaza governmental scene: official