APEC to discuss innovation and growth at a round table

The Asia-Pacific Economic Cooperation (APEC) will hold a Growth Strategy High Level Policy Round Table in the Japanese prefecture of Oita in August. Discussions will focus on the actions to be taken in five aspects of growth strategy, including innovative growth.The action plan to be discussed regarding innovative growth aims, among others, to increase the ratio of R&D expenses with regard to the GDP and the number of patent applications. The objective is to strengthen the competitiveness of the countries in the Asia-Pacific area and to prevent disparities in economic development.