APEC releases compilation of economic response, recovery initiatives

APEC releases compilation of economic response, recovery initiatives

APEC Illustration on economic response and recovery initiatives for the COVID-19 pandemic. (Handout-APEC Secretariat)

APEC is responding with numerous policy measures and tools that address different pain points caused by the health and economic crisis
Jakarta (ANTARA) - The APEC Secretariat has released a compilation of initiatives that the forum has undertaken since the beginning of the COVID-19 pandemic to advance the region’s economic response and recovery.

 

"APEC is responding with numerous policy measures and tools that address different pain points caused by the health and economic crisis,"said executive director of the APEC Secretariat, Rebecca Sta Maria, in a press release received here on Tuesday.

 

"These measures show the importance of intensifying cooperation through a multilateral forum like APEC, because no economy can recover alone given how interconnected the region is," she stated.

 

The initiatives, which range from high-level commitments such as ministers’ declarations and statements to expert analyses and recommendations as well as innovative tools and practical projects, demonstrated member economies’ commitment and continued trust in ensuring that trade remains a critical tool to the region’s prosperity, she said.

 

“We have worked tirelessly in the past year and we must continue to progress our work, especially in the area of vaccines and essential goods and services, structural reform, and the resumption of safe and seamless cross-border travel,” she added.


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Senior trade and economic affairs officials from APEC met on Tuesday to push forward key work areas on trade and investment, inclusive and sustainable growth, as well as innovation and digitalization.

 

The meeting was chaired by deputy secretary, trade and economic, in the Ministry of Foreign Affairs and Trade of New Zealand, Vangelis Vitalis.

 

Following the meeting of senior officials, trade ministers from 21 APEC member economies will meet online on Saturday (June 5, 2021).

 

The trade ministers’ meeting, which will be chaired by New Zealand’s Trade and Export Growth Minister Damien O’Connor, will focus on the vital role played by trade in enabling access to vaccines and essential goods and ensuring the smooth flow of global trade. (INE)


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EDITED BY INE

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