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Consensus Fosters Sustainable and Inclusive Growth: APEC Senior Officials

Issued by the APEC Concluding Senior Officials’ Meeting

Singapore, 07 December 2019. Members of the Asia-Pacific Economic Cooperation (APEC) will continue to work together towards more inclusive and sustainable growth, pledged APEC Senior Officials at the concluding event for Chile’s host year of APEC.

At the APEC Concluding Senior Officials’ Meeting, taking place at the forum’s Secretariat in Singapore, Chile presented the three plans for collective action – or ‘roadmaps’ – agreed to by members economies during the year on key issues for regional prosperity: women’s economic empowerment; marine debris; and illegal, unreported and unregulated fishing.

“APEC enables our economies to foster and build consensus – and that’s critical for the region in times of challenges. In a time where the needs of our people are evolving, multilateral and regional fora such as APEC can provide inclusive and sustainable solutions and create new opportunities for all our people,” said Mathias Francke, 2019 Chair of APEC Senior Officials.

"Senior officals also focused on ways to deepen engagement with stakeholders." he added.

Accounting for 60 percent of the world’s GDP and half of global trade, APEC’s 21 economies are vital to global economic growth.

The forum, which is celebrating thirty years of cooperation, is one of the oldest and most resilient vehicles for economic collaboration and integration. Chile’s host year, Francke noted, was about going back to the essence of APEC - or ‘back to basics’ - by promoting informal, open and frank dialogue between economies to advance complex issues. This approach enabled the forum to achieve important outcomes including a consensus statement by the Ministers Responsible for Trade.

In addition to addressing the forum’s achievements and long-term vision, senior officials also encouraged action by the APEC Digital Economy Steering Group, established earlier this year to spearhead the forum’s work on an increasingly critical sector.

A new APEC report on structural reform and the digital economy is also expected to guide the region’s economies in gaining greater benefit and better adapt to the fourth industrial revolution.

APEC Senior Officials also commended the completion of the La Serena Roadmap for Women and Inclusive Growth, which outlines concrete goals and recommendations for reducing existing gaps between women and men in the Asia-Pacific. Chile is the first APEC economy to elevate women’s empowerment as a region-wide priority.

“To truly achieve inclusive growth, APEC must ensure that everybody, including women and vulnerable groups, are able to fully participate in the economy and benefit from any progress. We thank Chile’s leadership in raising awareness on this pressing issue and vow to continue this important work,” said Dr. Rebecca Sta. Maria, Executive Director of the APEC Secretariat.

For a list of initiatives, projects and capacity building undertaken during APEC Chile 2019, please see the Report on Outcomes of APEC Chile 2019.

Following this final meeting led by Chile, APEC Senior Officials will convene in Langkawi, Malaysia, for the first events in the host economy for APEC 2020.

Souce: APEC Secretariat