Hosting the Asia-Pacific Economic Cooperation (APEC) 2015 provides an opportunity for the Philippines to advance its economic interests in services trade and contribute to regional integration by highlighting the critical importance of global value chains (GVCs). An output of a research project on APEC 2015 commissioned by the Department of Foreign Affairs to the Philippine Institute for Development Studies, this Policy Note looks at the GVC phenomenon and presents a measure of GVC participation at the aggregate level. It discusses the role of services in GVCs and proposes that further analytical work on services value chains in the Asia-Pacific region be undertaken. This will contribute to a better understanding of how individual economies can maximize GVC participation and how APEC can create the appropriate policy environment conducive to the growth of services value chains.
Why Global Value Chains and Services Matter: Implication for APEC 2015
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