Asia-Pacific Economic Cooperation (APEC) has contributed to the global economy by reducing poverty and increasing incomes for the people, and provided a platform for cooperation among countries around the world, said Fabrizio Hochschild, former United Nations under secretary-general.
"I think such alliances that focus on cooperation in specific spheres are of importance at a time where we're seeing greater global fragmentation. I mean, if you look at APEC's membership and its achievements, it makes up, I think, about 60 percent of global GDP, and it has almost half of humanity in terms of the economies it represents. And I think since its start, it's reduced poverty levels and increased income levels by many times over in those countries," he said in a recent interview with China Global Television Network (CGTN) in Anji County, east China's Zhejiang Province.
"So, across a very broad set of nations, by the group that makes up a very sizable proportion of humanity with very different levels of development, it's made a real difference in the lives of the less well-off inhabitants. So, in that sense, I think it continues to have an important role, and not least because it includes nations who in other areas, who in other fora, do not necessarily see eye to eye. So, both China and the US are part of APEC. So, it's important that they can have one forum where they come together and work together on economic and hopefully also social and environmental development through a forum like APEC," said Hochschild.
The APEC Economic Leaders' Meeting is underway in Gyeongju, a southeastern city of the Republic of Korea (ROK), from Friday to Saturday.
The theme of APEC 2025 is "Building a Sustainable Tomorrow: Connect, Innovate, Prosper".
The latest projections from the International Monetary Fund show that the Asia-Pacific's economy is expected to grow 4.5 percent this year.
APEC serves as important platform for int'l cooperation: expert
