The following is issued on behalf of the Hong Kong Committee for Pacific Economic Cooperation:
 
     The Pacific Economic Cooperation Council (PECC) published its State of the Region (SOTR) Report 2017-2018 on November 7.
 
     The SOTR Report is an annual statement of the PECC's views on the major developments affecting Asia-Pacific regional co-operation. The report contains a macroeconomic overview of the current state of the region and related issues. It also includes views from opinion leaders from government, business and academic sectors on key developments in the region and priorities for Asia-Pacific Economic Cooperation (APEC).
 
     The Report again recognised Hong Kong as one of the most integrated economies in the markets of the Asia-Pacific region. As one of the freest business harbours, Hong Kong benefits the most from economic integration in trade, investment and tourism. 
 
     The Report stated that the Asia-Pacific economy is expected to grow by 3.6 per cent in 2017 and 2018. On the side of forward momentum on trade opening, there is uncertainty over the future of regional trade initiatives. While the traditional trade and economic policy discussions continue, Internet-based technologies are rapidly changing the ways in which businesses, consumers and governments interact with each other. The Report also identified the top three policy priorities for the region, namely promoting sustainable, innovative and inclusive growth through the APEC growth strategy; addressing the emergence of anti-globalisation and anti-trade sentiments; and advancing progress toward the Bogor Goals and the Free Trade Area of the Asia-Pacific.
 
     The SOTR Report is now available for download at the link below:
www.pecc.org/research/state-of-the-region.
 
     The Hong Kong Committee for Pacific Economic Cooperation (HKCPEC) was established in March 1990 to co-ordinate Hong Kong's participation in the PECC. In line with the nature of the PECC, the composition of the HKCPEC is tripartite, comprising members from the Government, the business sector and academia.
 
     The PECC is a non-governmental organisation set up in 1980 to develop closer co-operation in trade and economic issues among economies in the region. For more information, please visit www.pecc.org.

Ends/Monday, November 27, 2017
Issued at HKT 15:00

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