28th APEC Economic Leaders' Informal Meeting Adopts APEC Leaders' Declaration 2021

Beijing, 12 Nov (CNBC) -- The 28th APEC Economic Leaders' Informal Meeting was held by video on 12 November. The meeting adopted the 2021 APEC Leaders' Declaration. The summary is as follows:

APEC economic leaders met on November 12, 2021. The COVID-19 pandemic continues to affect people's lives, and the Asia-Pacific economy is facing uncertainties and imbalances. The early recovery of the economy and the promotion of global economic recovery are our most important tasks this year. The APEC economies reaffirmed their solidarity and cooperation in responding to the pandemic and ensuring that the region resumes growth in a more innovative, inclusive and sustainable manner.

We will strongly support people's equitable access to safe, effective, quality-assured and affordable vaccines. The safety of all people can only be ensured if everyone is safe. We are determined to make vaccines a global public good, and expanding vaccine production and supply remains our priority. We have given full play to the important role of trade and investment in responding to the pandemic and promoted a stronger recovery for economies. APEC members will continue to work on the equitable distribution of vaccines and the expansion of vaccine production and supply, including the voluntary transfer of vaccine production technologies on the basis of the consent of all parties, and the voluntary reduction of vaccines and related medical product costs. We adhere to the people-centered approach and support deeper regional and international cooperation on COVID-19.

Our macroeconomic policies have played a key role in responding to the pandemic, protecting people's jobs and livelihoods, and supporting public services. We welcome the APEC Finance Minister's agreement on the Cebu Action Plan Implementation New Strategy, which will help achieve our goal of building a more integrated, transparent, resilient, and close-knit APEC. Structural reforms will also be an important tool for economic recovery. We welcome APEC's Strengthening Structural Reform Agenda to achieve inclusive, resilient, sustainable and innovative reforms and growth.

We will accelerate the implementation of the APEC Roadmap for the Internet and The Digital Economy, strengthen digital infrastructure, encourage the use of new technologies, bridge the digital divide, and strive to build an open, fair and inclusive digital business environment. We will also work to strengthen digital connectivity and digital inclusion.

Trade is the backbone of the development and prosperity of all our people. With the WTO at its core, the rules-based multilateral trading system plays an important role in economic recovery. We will participate constructively in the Twelfth Ministerial Conference of the World Trade Organization to ensure a pragmatic outcome. We will promote regional economic integration, promote the construction of the Asia-Pacific Free Trade Area, and contribute to the realization of comprehensive and high-quality regional trade agreements. We note that the APEC Business Advisory Council has made the establishment of the Free Trade Area of the Asia-Pacific (FTAAP) a top priority.

We will continue to implement the APEC Blueprint for Connectivity and further strengthen the connectivity of hardware, software and people. Digital connectivity and innovation are critical as we achieve a sustainable recovery.

We want to ensure that all people participate equally in economic activities and that no one is left behind. We are taking action to promote a more inclusive economic recovery and reduce the impact of the pandemic on vulnerable groups such as MSMEs and women. We welcome the conclusion of the APEC Roadmap for Food Security 2030, which will guide us in providing adequate, safe, nutritious, accessible and affordable food for all people. We support reducing food losses and waste. We refuse to provide safe haven for corrupt criminals and their assets. We will promote transparency, accountability and integrity, and prevent and combat corruption.

We should take concrete action to transform the global economy in favour of the climate, and we appreciate the relevant net zero or carbon neutrality commitments. We will work together to ensure that our economic and environmental policies are mutually supportive. We will continue to work together to support energy security, resilience and accessibility in the region. We believe that stabilizing energy markets and the clean energy transition are essential.

Last year, we adopted the APEC Butraja Vision 2040, which guides our work over the next two decades. This year we adopted a Vision Implementation Plan to realize our vision of an open, vibrant, resilient and peaceful Asia-Pacific Community by 2040 that will achieve shared prosperity for the people and future generations of the Region.