Wellington: The 2021 APEC (the Asia-Pacific Economic Cooperation) Economic Leaders’ Week, hosted by New Zealand and chaired by Prime Minister Jacinda Ardern, has commenced.
Under the theme “Join, Work, Grow. Together,” leaders, Ministers and senior officials from APEC’s 21-member economies will solidify their commitment to responding to the health and economic crisis and collectively determine a path for the region’s recovery that ensures resilience and sustainability, Xinhua news agency reported.
“There was never a more important time for economies to work together to share, rebuild and recover,” said Vangelis Vitalis, Chair of the APEC 2021 Senior Officials Meeting. The senior officials concluded technical discussions on Friday, setting the stage for Ministers to round out concrete commitments on Monday and Tuesday.
“Senior officials have met throughout the year and worked intersessionally on various programs to advance APEC’s work to be responsive to the crisis and relevant to the recovery,” Vitalis added.
Actions on the table centre on economic and trade policies that strengthen recovery, increase inclusion and sustainability for recovery, and pursue innovation and a digitally enabled recovery.
“Any recovery needs to take into account the impact of this crisis on women and youth, as well as on Indigenous populations and small businesses,” he said.
“That will be key to our region’s successful recovery.”
Beyond setting a course through the current crisis, senior officials have discussed APEC’s work for the next two decades in the form of a plan to implement the APEC Putrajaya Vision 2040.
The week will culminate with the APEC Economic Leaders’ Meeting on November 12-13, to be chaired by Prime Minister Ardern, which will provide the strategic vision and directives for future collaboration between APEC member economies.
It will be preceded by the APEC Ministerial Meeting, co-chaired by New Zealand Minister of Foreign Affairs, Nanaia Mahuta and Minister for Trade and Export Growth, Damien O’Connor on November 8-9.
APEC is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific. APEC’s 21 members aim to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative and secure growth by accelerating regional economic integration.
APEC member economies together account for about 3 billion people, 50 per cent of global trade and 60 per cent of the world’s total GDP.
