APEC ministers are considering ways to support the economic contributions of women, indigenous people, vulnerable communities, and youth as one of the key drivers to boost economic recovery in the Asia-Pacific, according to a written statement issued by the APEC Secretariat and received here on Wednesday.
The 2021 APEC Ministerial Meeting is co-chaired by New Zealand Minister of Foreign Affairs Nanaia Mahuta and Minister for Trade and Export Growth Damien O’Connor.
The decisions by trade and foreign affairs ministers will be made known at the APEC Economic Leaders’ Meeting on Friday.
"Our discussions continue as we progress our agenda to ensure a safe and prosperous trade platform that will sustain our people and environment for future generations," Minister Nanaia Mahuta stated as she opened the meeting on Tuesday (November 9).
"While we had a robust discussion about how APEC can use trade as a tool to accelerate our economic recovery, today, we will turn our attention to economic and technical cooperation and how we can harness opportunities in this space to expedite our recovery," she added.
Acknowledging the role for APEC to play in combating climate change, ministers will hear from the Executive Secretary of the United Nations Framework Convention on Climate Change, Patricia Espinosa, on the real-time challenges of decarbonization just days ahead of COP26.
Related news: APEC ministers strive to expedite recovery through trade policy
While APEC accounts for 60 percent of the global gross domestic product (GDP), the same percentage is also true for emissions, according to the latest APEC Regional Trends Analysis.
Over the past 30 years, emissions per person in APEC has been on an upward trend, even as the rest of the world has remained stable on this measure.
Ministers will also discuss measures to pursue green growth and sustainable development as well as enhancing access to goods and services that support low-emission and climate-resilient economies.
Those measures include reducing tariffs on a wider range of environmentally friendly goods and services that will help the environment and lower the barriers to trade.
"I want to acknowledge the spirit of collaboration and focus that APEC ministers bring to the virtual table. I am glad to see that we stand united in our approach to address some of the greatest challenges of our generation," according to Minister Mahuta.
"We have worked together, learned from each other, and strengthened our connections to ensure that the Asia-Pacific region comes through the pandemic stronger than it was before," she concluded.
Related news: Jacinda Ardern to chair 2021 APEC Economic Leaders' virtual meeting
Reporter: Yuni Arisandy Sinaga
Editor: Rahmad Nasution
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