ASIA-PACIFIC ECONOMIC COOPERATION (APEC) 17TH CONFERENCE ON GOOD REGULATORY PRACTICES (GRP17)
GRP17 took place on 19-20 August 2024 in Lima, Peru, gathering APEC economy representatives to explore strategies for improving regulatory quality and driving economic growth. The conference aligned with APEC 2024’s theme, "Empower. Include. Grow," focusing on "Innovation and Digitalisation to Promote Transition to the Formal and Global Economy."
Key Themes of the Presentations:
- Regulatory Quality and Economic Growth: High-quality, transparent and evidence-based regulations were highlighted as essential for boosting productivity, competitiveness and transitioning to formal economies. New Zealand (NZ) demonstrated how its competition policy, driven by regular market studies, ensures fair competition and supports economic growth, particularly in key sectors like energy and retail.
- Digital Transformation: The role of digital tools in modernizing regulatory practices was emphasised. OECD’s International Regulatory Cooperation (IRC) platform was highlighted as a tool for sharing case studies and best practices. NZ encouraged contributions of case studies from economies to the IRC to enhance global learning to help reduce trade barriers and promote regulatory cooperation. Thailand’s use of AI in public consultations was also noted for its innovative approach to managing large volumes of feedback and making the process more inclusive.
- Inclusive Stakeholder Engagement: Comprehensive stakeholder involvement, especially for marginalised groups and SMEs was emphasized as crucial. Chile shared its efforts to use a targeted approach in public consultation processes, focusing on reducing complexities that often hinder smaller businesses, thereby promoting more equitable regulatory outcomes.
- International Cooperation: The value of aligning domestic regulations with international trade standards to reduce barriers and foster economic integration was discussed, with insights from Chile and Peru on maintaining competitiveness in global markets.
- Continuous Improvement: The importance of regular ex-post evaluations to maintain regulatory relevance and effectiveness was highlighted. Mexico shared its experience with ex-post Regulatory Impact Assessments (RIAs) to refine and improve existing regulations.
Malaysia's Participation:
Malaysia contributed in Sessions 2 and 5 of the conference.
Session 2: Institutionality and Governance Models to Facilitate Transition to the Formal Economy
Mr. Mahadi Hasbullah presented Malaysia's approach to regulatory governance, emphasizing centralized coordination and decentralized execution. The PEMUDAH initiative was highlighted for ensuring consistent and inclusive regulatory practices across government levels, emphasizing the need for a unified regulatory framework.
Session 5: Technology Tools and Innovative Resources for International Regulatory Cooperation
Ms. Hafizoh Md Aris presented on Malaysia’s digitalization efforts under the National Policy on Good Regulatory Practice (NPGRP). Tools like the Digital Regulatory Notification (DRN) and the Unified Public Consultation (UPC) platform were shared, alongside Malaysia’s future initiative on the development Digital Regulatory Information System (DRIS) demonstrating Malaysia’s commitment to modernizing its regulatory framework.
Overall, GRP17 reaffirmed the essential role of GRP in fostering sustainable economic growth, promoting market openness and facilitating the transition from informal to formal economies.
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