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Asia-Pacific Trade and Investment Report 2015

Supporting Participation in Value Chains

image of Asia-Pacific Trade and Investment Report 2015
Part I of this report assesses trends and developments in regional trade and investment flows and policies in an attempt to provide the insights and information necessary to separate the cyclical from the structural aspects. Part II analyses the participation of Asia-Pacific economies in global and regional value chains. By observing how economies at different levels of development have integrated into supply chains at different speeds and to varying extents, we can cast light on those policies that influence and shape value chain participation, and hence influence future patterns of trade and investment. The particular features of participation in value chains also have an impact on the ability of countries to access foreign technology and build innovative capacity, which in turn influences structural change and future development options.

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Services in industrial value chains

Services value-added, across all world economies, accounted for 29% of global gross exports in 2009, according to research by ESCAP (2014). In addition, there has been an increase in the reliance on imported services at the expense of domestically-supplied ones. The increased importance of “servicification” implies that services have become a key to enhancing the competitiveness of economies, especially those exporting industrial products through global value chains (GVCs). In fact, GVC-related production and trade have spread more extensively through the Asia-Pacific region than in the rest of the world, indicating the high importance of servicification, inter alia, to the development of industrial exports of the region.

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