The APEC Chemical Dialogue, the premier forum for the chemical industry in the Asia-Pacific, has strengthened cooperation on regulatory affairs in order to facilitate trade in essential goods, thus expediting the recovery of Asia-Pacific Economic Cooperation (APEC) member economies by creating jobs and promoting sustainable development.
The Asia-Pacific region represents more than 45% of the global chemical manufacturing business or an equivalent of 7% of global gross domestic product (GDP).
Of the 120 million jobs supported by the industry, more than 69% of them are in the Asia-Pacific, according to the American Chemistry Council.
“Chemicals are a critical part of many essential goods,” industry co-chair of the APEC Chemical Dialogue pointed out. “In fact, 96% of all manufactured goods rely on chemistry.”
From masks and other personal protective equipment to hand sanitiser and crucial disinfectants, the chemical industry plays an essential role in producing important supplies in the fight against COVID-19.
In early November, government and industry representatives convened virtually to discuss top priorities in the chemicals sector.
Their discussions encompassed forward-looking action plans, including prioritising collaboration between public and private sectors to develop innovative solutions for sustainable economic, and environmental and social development through the application of good regulatory practices.
This had made possible regulatory alignment and convergence to the globally harmonised system of classification and labelling of chemicals by encouraging information sharing and best practices on the sound management of the industry.
When applied uniformly and consistently, good regulatory practices produce more effective and efficient regulatory outcomes, prevent unnecessary obstacles to trade caused by regulations and provide a more predictable regulatory environment that encourages trade and investment, according to acting government co-chair Renee Hancher.
“Collaboration between industry and government drives a forward-thinking agenda and contributes to a more coherent regulatory environment for chemicals in the Asia-Pacific, promotes higher health, safety, and environment standards, and prevents barriers to trade,” Barrientos concluded. – Dec 10, 2020
