Taiwan has contributed US$2.2 million in funding to Asia-Pacific Economic Cooperation (APEC) projects to foster economic growth among member states and support policy research, the intergovernmental forum said in a press statement on Friday.

Of the US$2.2 million donation made by Taiwan, which joined APEC in 1991 under the name “Chinese Taipei,” around US$1 million will go to APEC’s projects, such as the APEC Small and Medium Enterprises Working Group, that work to improve the digital economy or support micro, small and medium enterprises in the Asia-Pacific region, according to the statement.

The remaining funding will be allocated to support APEC initiatives seeking to reduce marine debris and to the APEC Policy Support Unit, which is the research and analysis arm for member economies, the statement said.

The donation was confirmed in a memorandum of understanding (MoU) signed virtually by Sharon Wu (吳尚年), Taiwan’s APEC senior official, and Rebecca Sta Maria, executive director of the APEC Secretariat, on Oct. 14.

Taiwan “is committed to continuing our engagement in APEC as well as contributing to strengthen APEC’s economic and technical cooperation initiatives,” said Wu, who heads the Department of International Organizations under the Ministry of Foreign Affairs.

“We also wish to reaffirm our commitment to advancing APEC members’ capacity building needs and promoting inclusive and sustainable growth, especially in the areas of digital innovation, small and medium enterprises, and marine debris management,” she said.

Meanwhile, Sta Maria said support for APEC’s efforts to promote sustainability and inclusive growth would “contribute to a resilient future, and mitigate against the uncertainties we are facing today.”

“The challenges that we’re facing as a region are unprecedented and because of this, APEC needs to forge ahead and strengthen our cooperation to ensure an inclusive, sustainable, and resilient future for the people,” she added.

Source: Focus Taiwan News Channel