APEC Summit

As APEC comes to a close, Bay Area set to benefit, local leaders say

ByTim Johns KGO logo

Saturday, November 18, 2023

As APEC comes to a close, Bay Area set to benefit, local leaders say

San Francisco leaders say the region is set to benefit from APEC - with everything from new job opportunities to enhanced economic growth.

SAN FRANCISCO (KGO) -- It was a parade of planes at SFO Friday, as world leaders left San Francisco following the APEC summit.

"I think it went very well. We couldn't have expected much better in terms of how it turned out," said Sean Randolph of the Bay Area Council.

For months, city leaders have been planning the international gathering - the biggest event the Bay Area has hosted in decades.

They say by successfully pulling this off, our region is set to benefit for years to come - with everything from new job opportunities to enhanced economic growth.

"I think what happens in the region in terms of opening markets and reducing trade frictions and facilitating investment is extremely important to our economy and its future," Randolph said.

MORE: APEC Summit: Biden tells leaders that US 'not going anywhere' as it looks to build economic ties

That spirit of working together for the benefit of everyone involved was a key theme of this year's summit and was displayed several times throughout the week.

On Friday, the Prime Minister of Japan toured Stanford, and took time to have meetings with the CEOs of several local tech companies.

At an afternoon press conference attended by ABC7 News, he highlighted the continued partnership between his home country and the Bay Area.

"Japan is the largest foreign direct investing country in California and is a vital partner in terms of trade," said Prime Minister Fumio Kishida.

Earlier in the day, President Biden had a sit down with the President of Mexico.

MORE: 'Work together': Biden, López Obrador talk fentanyl and US-Mexico migration at APEC

There they discussed how to stop the fentanyl crisis that's hammered cities across the country, including San Francisco.

"This is a matter of humanism. It's an act of solidarity. We are sincerely committed to assist in our fullest capacity to prevent drug trafficking," said President Andres Manuel Lopez Obrador.

Local leaders say hosting APEC is another way to push back against the doom loop narrative.

Reinforcing to our international guests, that our region remains the hub for innovation and creative the world over.

"Hopefully these visitors will take that impression home and want to come back," Randolph said.

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