Ministers and high-level representatives from the 21 APEC member economies reaffirmed their commitment to further boost
women's economic participation and leadership across Asia-Pacific.
“The moment demands that we accelerate our efforts,” said Jennifer Klein, Director of the White House Gender Policy
Council, who chaired the 2023 APEC High-Level Policy Dialogue on Women and the Economy which culminated the week-long
Women and the Economy Forum (WEF).
The WEF was launched twelve years ago by former Secretary of State Hillary Clinton during the United States’ host year
in 2011 to unlock the full growth potential of the Asia-Pacific region by promoting the economic participation of women
across APEC.
Director Klein explained the key objectives of this year’s WEF that are critical to economic growth, including advancing
gender equality in our climate response efforts; expanding digital inclusion and innovation; strengthening the care
economy; and promoting equity and equality and supply chains. “Achieving these objectives will require collective
action.”
“Over the past several years, we have seen time and time again that women and girls are disproportionately affected by
crises—from the COVID-19 pandemic, to rising food insecurity, to the climate crisis—these inequalities fuel instability
in local, regional, national and global markets,” Director Klein said as she opened the Sunday’s meeting in Seattle.
“We know that there were rewards that follow from women's full participation in the economy,” Director Klein added.
“Significant research has shown that closing gender gaps in the workforce could add between USD12 to 28 trillion to
global GDP over a decade.”
“Similar analysis by the International Monetary Fund found that countries could boost the size of their economies by up
to 35 percent simply by eliminating discriminatory laws and leveling the economic playing field for women,” Director
Klein added.
Director Klein also called upon the private sector to collaborate with governments in furthering the critical imperative
of women's full economic participation, including by changing business operations to promote women-led micro small and
medium sized enterprises in global supply chains. She said that investing in childcare and other care infrastructure for
employees, addressing discriminatory gender norms and promoting gender equality should also be integrated as a core part
of corporate business models.
“To unleash the full economic potential of women across the APEC region we need to work in partnership, particularly
with the private sector, which has a critical role to play and of course, much to gain,” Director Klein said.
Director Klein underscored that partnering with fellow APEC economies, multilateral partners and civil society will be
essential to address the 21st century economic gaps for women from the benefit of gender equality and women's economic
advancement, as well as to foster economic prosperity and stability across the entire region.
“Our work takes place during an unprecedented time of conflict and crisis with significant effects on women and girls
around the world,” Director Klein said. “In the spirit of cooperation, I will call on all of us to work together in good
faith to meet these challenges and create an environment that fosters the full participation of women and girls.”
ENDS
Masyitha Baziad +65 9751 2146 at mb@apec.org
Michael Chapnick +65 9647 4847 at mc@apec.org