The joint statement describes collective policy commitments to be implemented by APEC economies over the next year to expedite and ensure a resilient and sustainable long-term recovery, with trade, inclusion, sustainability, innovation, and digitalization as drivers of quality growth, according to a release issued at the APEC Ministerial Meeting and received here on Wednesday.
Those collective policy commitments entailed continued support and response to COVID-19, economic and trade policies that bolster recovery, increasing inclusion and sustainability for recovery, pursuing innovation and a digitally-enabled recovery, and strengthening APEC as an institution.
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The joint statement also encompasses two annexes on the report of the APEC Services Competitiveness Roadmap review and a reference list of Environmental and Environmentally Related Services.
Such a joint statement was made by APEC ministers on account of the persistent and uncertain nature of the pandemic and its unceasing impact on the health, well-being, and economic prosperity of the region and resulting in estimated losses to the tune of US$1.2 trillion from unrealized economic activities as a consequence of border and travel restrictions.
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The 2021 APEC Ministerial Meeting was co-chaired by New Zealand Minister of Foreign Affairs Nanaia Mahuta and Minister for Trade and Export Growth Damien O’Connor.
It will be followed by the continuation of the 2021 APEC CEO Summit on November 11 and the culmination of the 2021 APEC Economic Leaders’ Meeting on November 12.
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