I cannot stress enough the importance of APEC and our engagement here to address the increasingly complex challenges that we are facing and to ensure a full and sustained economic recovery from COVID, which is still fragileJakarta (ANTARA) - APEC senior officials are convening to pursue common ground and supportive measures for full and sustained recovery amid a troubling backdrop of uncertain economic recovery, inflationary pressure, and climate change complexities in the region.
"I cannot stress enough the importance of APEC and our engagement here to address the increasingly complex challenges that we are facing and to ensure a full and sustained economic recovery from COVID, which is still fragile," Permanent Secretary for Foreign Affairs of Thailand and 2022 Chair of the APEC Senior Officials Thani Thongphakdi said, as noted in a release issued by the APEC Senior Officials' Meeting and received here on Friday.
Convening two days before the APEC Ministers Responsible for Trade Meeting, senior officials are looking at developing a multi-year work plan that covers traditional and next-generation trade and investment issues.
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Such outcomes will provide strong support for the World Trade Organization (WTO) and further push the agenda for its 12th Ministerial Conference that will take place during the week of June 13 in Geneva and attended by most of APEC’s trade ministers.
Each ministerial meeting covers mutual issues of concern, including those at the top agenda, such as the WTO reform, fisheries subsidies, and environmental and fossil fuel subsidies reform.
Also on the agenda is ensuring a proper response to the COVID-19 pandemic through inclusive trade for micro, small, and medium enterprises as well as women’s economic access, investment facilitation, and trade in services.
"To assure comprehensive recovery, there is a need for us, as member economies of the most dynamic region, to drive forward our effort in deepening regional economic integration by refreshing our discussion on the Free Trade Area of the Asia-Pacific, post-COVID-19," Thani stated.
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Reopening the region through the safe passage mechanisms is a high priority, as member economies recognized the urgent need to bring back business and leisure travel to uphold economic recovery.
"As the world gradually reopens and cross-border travel is becoming more commonplace, there are still variations in terms of entry and health measures across the region. APEC is well placed to promote interoperable solutions to facilitate the safe and seamless resumption of cross-border travel," Thani remarked.
Senior officials expressed broad support to increase inclusiveness and work towards addressing climate issues. Under the guiding theme of APEC 2022, "Open, Connect, Balance", members explored approaches, such as the bio-circular-green (BCG) economy model that calls for more holistic and coordinated efforts in shifting mindsets and actions to address imbalances and inequalities in and across economies.
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"The present economic challenges need intense efforts of APEC to alleviate the negative impacts on our economy and people. More so, we need to strengthen APEC’s preparedness and resilience against future disruptions," Thani stated.
He noted that the members’ intensified efforts are deemed necessary to alleviate the impact of current economic pressures and that APEC, as a forum, should deliver "decisive and deliberate actions responding to the evolving global environment, so that our stakeholders and people can thrive."
APEC Ministers Responsible for Trade will meet on Saturday and Sunday (May 21-22) in Bangkok.
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Reporter: Yuni Arisandy Sinaga
Editor: Fardah Assegaf
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