Taiwan signed an agreement with the Asia-Pacific Economic Cooperation (APEC) Secretariat in Lima, Peru on Thursday to donate US$500,000 to the forum to help enhance human security and regional economic integration.
The money will be donated to the APEC Support Fund (ASF), the ASF's sub-fund on human security, and the APEC Policy Support Unit, according to Taiwan's Ministry of Foreign Affairs.
The donation was made in support of APEC's commitment to promoting regional economic integration and facilitating economic and technical cooperation, the ministry said. It is an indication of Taiwan's commitment to trade and investment liberalization and facilitation, according to the ministry.
The goal of the ASF is to address the capacity-building needs of APEC developing economies in the fields of economic and technical cooperation. Its sub-fund for human security focuses on counterterrorism, secure trade, health security, emergency preparedness and energy security.
The Policy Support Unit, the research and analysis arm of APEC, deals with trade and investment liberalization and facilitation; structural reform within APEC; economic, trade and investment trend analysis; sustainable economic growth in the APEC region; and supply chain performance in the region.
Alan Bollard, executive director of the APEC Secretariat, said in a statement that Taiwan's latest donation was "welcome news."
"The increased availability of funds for capacity building initiatives in APEC will enable Chinese Taipei and other member economies to take policy innovation another step forward," he said.
Source: Focus Taiwan