The Philippines should take advantage of its role as host of the Asia-Pacific Economic Cooperation (APEC) Summit this year by promoting its services sector and that of the region in the development of global value chains (GVCs), which now dominate global trade, a study by state think tank Philippine Institute for Development Studies (PIDS) said.

Global value chains are the series of activities around the world involved in the conception, production, distribution, usage and other activities that add value to a product.