APEC leaders issue Kuala Lumpur Declaration

The 27th Economic Leaders’ Meeting was chaired by Malaysian Prime Minister Muhyiddin Yassin. (File photo: Muhyiddin Yassin/Facebook)

JAKARTA – Leaders of the 21 member economies of the Asia-Pacific Economic Cooperation (APEC) issued the Kuala Lumpur Declaration after the first-ever virtual APEC Economic Leaders’ Meeting on Friday.

The 27th Economic Leaders’ Meeting was chaired by Malaysian Prime Minister Muhyiddin Yassin.

Convening for the first time since their last meeting in Papua New Guinea in 2018, the leaders agreed to the joint declaration under the 2020 APEC Malaysia theme of “Optimising Human Potential towards a Resilient Future of Shared Prosperity: Pivot.

Prioritize. Progress”, according to a written statement received here on Saturday.

Under the Kuala Lumpur Declaration, the economic leaders of APEC have committed to remain united in their determination to help the Asia-Pacific region successfully recover from the coronavirus disease (Covid-19) pandemic and its economic impact.

APEC leaders have also committed to protecting people’s lives in the region and safeguarding their health.

They have also affirmed their resolve to further help the region navigate recovery by taking the path of strong, balanced, inclusive, sustainable, innovative, and secure economic growth.

“Our coordinated action and cooperation are more important than ever to overcome the challenges of Covid-19 and realize new and emerging opportunities for prosperity for all,” the APEC leaders stated.

Recognizing the unprecedented challenges the region’s economies face amidst the Covid-19 pandemic, the APEC leaders have pledged to work together to support some priorities, such as combatting and mitigating the impact of the disease, improving the narrative of trade and investment, supporting inclusive economic participation through digital economy and technology, driving innovative and inclusive sustainability, as well as strengthening stakeholder engagement.

APEC leaders have also officially endorsed the new APEC Putrajaya Vision 2040 that will chart the future of the region.

The document envisions an open, dynamic, resilient, and peaceful Asia-Pacific community by 2040 and prosperity for all of the people and future generations.

APEC senior officials have been tasked by leaders to complete a comprehensive implementation plan for their consideration in 2021.

New Zealand will host the leaders next year as the chair of APEC 2021. (ANTARA)