At the Informal Senior Officials’ Meeting each year, the APEC economies discuss and prioritize all work that will take place throughout the following APEC yearJakarta (ANTARA) - New Zealand confirmed that its APEC host year priorities with give due weightage to responding to the economic impacts of COVID-19, as its first APEC 2021 virtual meeting was concluded from Wellington, New Zealand, Friday.
The Informal Senior Officials’ Meeting (ISOM) comprised a symposium that drew global thinkers on issues important to APEC, an informal plenary meeting, and an informal retreat.
Attendees at the meeting comprised representatives of the 21 APEC member economies, according to a press release issued by the APEC Secretariat and received here on Friday.
"At the Informal Senior Officials’ Meeting each year, the APEC economies discuss and prioritize all work that will take place throughout the following APEC year," Executive Director of the APEC Secretariat Rebecca Sta Maria noted.
"This week’s meeting has provided an opportunity for fresh discussions on things that matter most to Asia-Pacific economies. New Zealand shared its host year priorities, and there was a broad agreement that much of the focus in the year ahead will be on COVID-19 and supporting the Asia-Pacific region’s economic response and recovery," Sta Maria added.
New Zealand Prime Minister Jacinda Ardern, who will chair APEC in 2021, stated that in the wake of the unprecedented health and economic crisis caused by COVID-19, it is clear that the immediate economic response to COVID-19 will dominate APEC discussions in 2021.
"However, as we work to recover, we also need to focus on building back better. There has never been a more important time for the region to join, work, and grow together ... to share, rebuild, and recover APEC’s growth trajectory," Ardern affirmed.
Economic activity in the APEC region is projected to contract by 2.5 percent in 2020, the first time that the region’s economy will shrink in three decades.
“While growth is starting to recover, economic impacts will be felt for some time to come. I urge member economies to work together in the spirit of cooperation to address these challenges effectively," Ardern stated.
At the first virtual meeting chaired by New Zealand on Friday, the incoming host echoed its commitment to helping APEC chart its course for the next two decades and organizing its agenda around three policy priorities.
The three policy priorities are economic and trade policies that bolster recovery, with focus on the right macroeconomic, microeconomic, and trade policy choices; increasing inclusion and sustainability for recovery by building a better society for all people and achieving a green recovery; and pursuing innovation and a digitally enabled recovery by expediting the APEC region’s work in these areas.
"Join, Work, Grow Together" is New Zealand’s theme for APEC 2021.
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