The Philippines is hosting the 2015 Asia-Pacific Economic Cooperation (APEC), and despite the staggering amount of $212 million budget or nearly P10 billion for the meeting, the Philippine government sees this as a huge investment for the country.

According to Inquirer, around 47 meetings have been held prior to the final event on Nov. 13 to Nov. 19. The APEC Economic Leader's Meeting, however, will transpire from Nov. 18 to Nov. 19 at the Philippine International Convention Center (PICC). The APEC meeting will be attended by 21 leaders from different countries including the U.S., China, Japan and Russia.

The Philippines sees the importance of hosting the APEC Summit primarily because it is the country's duty and privilege to host such event. The APEC Summit will also contribute to at least 80 percent of the Philippines' trading business. Looking through, the country's top five trade partner includes the U.S., China, Japan, Singapore and South Korea, which are all members of the APEC. The APEC economies have also greatly contributed in the aide development of the country through the APEC Business Advisory Council (ABAC).

Since January, the APEC Summit has started organizing and implementing meetings in different host countries. In January 2015, several events were conducted in Vietnam, the Philippines and Hong Kong. During February, the APEC held seven meetings, six of which were hosted by the Philippines while the other one in Beijing, China.

The Philippines has been on the verge of developing its trade industry, and the APEC 2015 will open opportunities for the country including the Cebu Action Plan, which mainly targets financial sustainability, as well as the Boracay Action Agenda that aims to promote micro, small and medium enterprises in the global market.

Foreign undersecretary Laura Del Rosario said, "We are looking at the simplification of rules so people who would want to do business will find it easier to start and sustain their business."

The trade has been more focused on the social side as well as the cultural practice of regarding for the environment. Aside from the MSMEs, the Philippines is also looking on investing on human capital, where work neither domestically or abroad will be able to sustain the lives of the ordinary citizen.

Del Rosario also added, "Services will be a big part of trade. Eventually, this will be part of the economic agenda."

After the APEC Economic Leader's Meeting from Nov. 18 to Nov. 19, there will be two more events slated this month, which will be hosted by the Philippines and Jeju, Korea, The last event on Dec. 14 to Dec. 18 will be in Hawaii.