BEIJING, November 11 (Sputnik) — APEC member countries intend to accelerate the pace of economic reforms and strengthen the coordination of macroeconomic policies, economic leaders of the forum’s member countries said in a declaration Tuesday.
"We are committed to accelerating the pace of reform and innovation, and exploring new growth areas with the goal of bolstering the position of the Asia-Pacific as an engine for world economic growth," the statement said.
"Recognizing that many APEC developing economies are facing the challenge of the Middle-Income Trap (MIT), we agree to incorporate the issue of overcoming the MIT into the work program of the APEC Economic Committee," the document continues.
The leaders of APEC countries also agreed to "strengthen macroeconomic policy coordination with a view to forging policy synergy, and creating a sound policy environment for the robust, sustainable, balanced and inclusive economic growth in the region."
The countries also noted the need to stabilize and further increase employment levels, for the use of macroeconomic policies to create jobs and strengthen capacity-building measures for the development of human resources, and for the professional development and training of young specialists.
APEC Leaders Agree on Steps to Strengthen Role in Asia-Pacific Region
APEC leaders are taking steps to ensure that the forum would play a more active role in the Asia Pacific region, economic leaders of the forum’s member countries said in a declaration Tuesday.
"We commit to carry forward APEC reform, improve its cooperation mechanisms, and implement ambitious goals and blueprints, with the aim of enabling APEC to play a more active coordinating and leading role in the Asia-Pacific," the document says.
"We are committed to enhancing APEC synergy with other relevant international and regional cooperation organizations and fora through coordination and cooperation, as well as enabling APEC to play an increasingly important role in the global governance system," the declaration states.
The leaders of the APEC member countries also signaled their support for harsh measures against corruption.
"We commend the strong resolve shown in fighting corruption, including through effective anti-corruption measures. We commit to work together against corruption and deny safe haven for corrupt officials and their illicitly-acquired assets," the statement continues.
APEC Countries Extend Commitment Rejecting Protectionist Measures Until 2018
APEC member countries have agreed to extend their commitment to reject protectionist measures until 2018, according to a declaration made by APEC economic leaders Tuesday.
"We reaffirm our pledges against all forms of protectionism. We extend our standstill commitment through the end of 2018 and reaffirm our commitment to roll back protectionist and trade-distorting measures," the declaration says.
"We remain committed to exercise maximum restraint in implementing measures that may be consistent with WTO provisions but have a significant protectionist effect and to promptly rectifying such measures, where implemented," the statement continues.
In September 2012 after the APEC forum in Vladivostok, the leaders of the organization’s member countries agreed to reject protectionist measures until the end of 2015.
The Asia-Pacific Economic Cooperation (APEC) forum of 21 Pacific Rim economies seeks to facilitate economic growth, cooperation, trade and investment in the Asia-Pacific region. The group’s summit week began in Beijing on November 5 and lasts until November 11.
APEC Countries Support Creation of Standardized Codes for Foreign Trade Facilitation
APEC member countries have agreed to cooperate on global data standards, including agreeing on standardized codes to facilitate foreign trade, economic leaders of the forum’s member countries said in a declaration Tuesday.
"We recognize that the use of standardized codes will enable information about traded goods to be easily understood and shared by all parties," the declaration said.
"We therefore encourage APEC economies to work with the private sector to promote further cooperation on global data standards and their wider use by developing pilot projects," the statement continues.
The Asia-Pacific Economic Cooperation (APEC) forum of 21 Pacific Rim economies seeks to facilitate economic growth, cooperation, trade and investment in the Asia-Pacific region. The group’s summit week began in Beijing on November 5 and lasts until November 11.
APEC Countries Support Energy Supplies Diversification
APEC member countries have agreed to reduce subsidies for inefficient use of fossil fuels and supported the diversification of energy resources and the market pricing principles, economic leaders of the forum’s member countries said in a declaration Tuesday.
"We recognize the importance of promoting diversified energy supplies, and market-based competition and pricing mechanisms that reflect demand and supply fundamentals as appropriate to each economy," the statement says.
According to the declaration, the forum’s member countries support the elimination of restrictive measures, which could "impede progress in renewable energy technologies and development of this sector."
"We endorse the Energy Ministers’ aspirational goal to double the share of renewables including in power generation by 2030 in APEC’s energy mix," the statement continues.
APEC member countries also called for the phasing out of "inefficient fossil fuel subsidies" while paying attention to the provision of "essential energy services" in the statement.
The Asia-Pacific Economic Cooperation (APEC) forum of 21 Pacific Rim economies seeks to facilitate economic growth, cooperation, trade and investment in the Asia-Pacific region. The group’s summit week began in Beijing on November 5 and lasts until November 11.
APEC Leaders Support Creation of Favorable Conditions for Gas Trade
APEC leaders support the creation of favorable conditions to boost trade in natural gas and liquefied natural gas (LNG) among the forum’s member states, economic leaders of the forum’s member countries said in a declaration Tuesday.
"We encourage member economies to strengthen energy infrastructural development and connectivity, such as oil and natural gas pipelines and transmission networks, LNG terminals, smart grids and distributed energy systems on the basis of shared interest and mutual benefit," the statement says.
The Asia-Pacific Economic Cooperation (APEC) forum of 21 Pacific Rim economies seeks to facilitate economic growth, cooperation, trade and investment in the Asia-Pacific region. The group’s summit week began in Beijing on November 5 and lasts until November 11.
APEC Troubled by 'Impasse' in WTO Trade Facilitation Agreement Implementation
APEC expresses deep concerns regarding the "impasse" in the implementation of the Trade Facilitation Agreement of the World Trade Organization (WTO), economic leaders of the forum's member countries said in a declaration Tuesday.
"We express our grave concern regarding the impasse in the implementation of the Trade Facilitation Agreement (TFA) which has resulted in stalemate and uncertainties over other Bali decisions," the declaration says.
The statement also notes that such a situation undermines trust in the organization as a platform for negotiation.
The declaration also said that in order to find solutions for the implementation of the decisions made in Bali, "APEC will exert creative leadership and energy together with all WTO members in unlocking this impasse, putting all Bali decisions back on track, and proceeding with the formulation of Post-Bali Work Program, as a key stepping stone to concluding the Doha Round."
In December 2013, participants of the APEC summit in Bali decided on resuming the Doha round of negotiations that began in 2001 in Qatar and is aimed at resolving existing trade conflicts between countries with different levels of economic development.
APEC Leaders Agree to Intensify Cooperation Against Ebola
APEC member countries have decided to strengthen their cooperation to eliminate the Ebola disease and to help African countries end the epidemic, economic leaders of the forum’s member countries said in a declaration Tuesday.
"In confronting the current Ebola Virus Disease epidemic, we are determined to intensify our cooperation and work shoulder to shoulder with African nations to help them effectively end this epidemic and prevent, detect, manage and respond to future outbreaks," the statement says.
"We will continue to assist people in affected areas to overcome this crisis and build back their economies so we can win the battle against the disease," the document continues.
The current Ebola epidemic started in southern Guinea in December 2013 and soon spread to Liberia, Sierra Leone, Nigeria and Senegal. The latter two countries have recently been declared free of the virus.
The most recent estimates by the World Health Organization (WHO) indicate that the virus has claimed the lives of 4,960 people in eight countries.
The Asia-Pacific Economic Cooperation (APEC) forum of 21 Pacific Rim economies seeks to facilitate economic growth, cooperation, trade and investment in the Asia-Pacific region. The group’s summit week began in Beijing on November 5 and lasts until November 11.
