Taiwan Establishes APEC's First Dedicated Healthcare Sub-Fund

(MENAFN- Caribbean News Global) TAIPEI, (TaiwanToday) – Taiwan established the Asia-Pacific Economic Cooperation Sub-Fund for the Future of Healthcare, the forum's first such dedicated fund, highlighting government commitment to leveraging the country's smart medical care strengths to reinforce Taiwan's leading role in APEC's discussions of digital healthcare while providing more business opportunities for domestic industries.

“Taiwan signed a memorandum of understanding to donate USD 1.5 million to the fund on the sidelines of the second APEC senior officials' meeting in Shanghai in May. The MOU was inked by Jonathan C. Y. Sun, director general of the MOFA's Department of International Organizations, and Eduardo Pedrosa, executive director of the APEC Secretariat, and witnessed by representatives from Canada and the US,” said the ministry of foreign affairs.

Speaking at the event, director Sun said that the fund aims to help member economies host relevant meetings and activities, harnessing public-private cooperation to implement patient-centered healthcare systems. It will facilitate the use of emerging technologies such as artificial intelligence to address medical challenges posed by demographic changes.

In response, Pedrosa said that the fund aligns with the goals of the APEC Putrajaya Vision 2040 and the Aotearoa Plan of Action to advance people's health and well-being. It will help member economies engage in healthcare policy dialogues and capacity-building initiatives to address economic and labor challenges posed by an aging population.

“Since Taiwan joined APEC in 1991, the country has actively attended meetings, proposed initiatives and hosted activities,” MOFA said.“The government will continue to implement its integrated diplomacy initiative and combine public and private efforts to boost Taiwan's APEC contributions.”

Meanwhile, Taiwan staged an APEC forum on promoting AI for SMEs, an artificial intelligence-driven transition in small and medium enterprises June 5, in Taipei City under the Asia-Pacific Economic Cooperation forum.

The event featured two keynote speeches titled,“The AI Edge: Powering SME Success” by James Tetlow, a senior research analyst from Washington CORE, and“The AI Journey: Lessons From the Front Line” by Kevin Chou, an executive from Taiwan's ASUS Group.

Other highlights of the event included the policy dialogue.

The government's role in cultivating AI Talent for SMEs and the Focus Interview: Women in AI-Resilience, Innovation and Breakthroughs, as well as panel discussions on AI mindset and workplace integration and implementation in marketing.

Organised by the MOEA's Small and Medium Enterprise and Startup Administration, the event involved more than 100 participants from ten APEC member states, including around 40 business representatives and experts from Australia, Canada, Japan and the US.

During his opening remarks, MOEA chief secretary Chuang Ming-chih said that while AI and digital transition bring tremendous challenges in terms of talent and technology development, they also create great opportunities for SMEs around the world.

“As SMEs play a critical role in regional economic development, Taiwan will continue leading efforts by the APEC SME working group while deepening cooperation with other member states under the trade bloc's existing initiatives,” the administration said.

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