APEC NEWS RELEASE: Issued by The APEC Business Advisory Council (ABAC) Ha Long, 29 July 2022 – Asia-Pacific business leaders in the APEC Business...
APEC Economic Leaders’ Statement Overcoming COVID-19 and Accelerating Economic Recovery

Issued by the APEC Informal Leaders’ Retreat
Wellington, New Zealand, 16 July 2021
We, the APEC Economic Leaders met on 16 July 2021 to discuss the COVID-19 health and economic crisis and response. The pandemic continues to have a devastating impact on our region’s people and economies. Our efforts to diagnose and treat COVID-19 continue to be essential. But we will only overcome this health emergency by accelerating equitable access to safe, effective, quality-assured, and affordable COVID-19 vaccines. We recognise the role of extensive immunisation against COVID-19 as a global public good. To that end, we will redouble our efforts to expand vaccine manufacture and supply, support global vaccine sharing efforts, and encourage the voluntary transfer of vaccine production technologies on mutually agreed terms. We must ensure our health systems cover all people and have the resilience to cope with current and future shocks. We welcome the varied and continuous efforts as well as the contribution of additional resources across APEC to combat the pandemic. We are committed to realising our Putrajaya Vision of an open, dynamic, resilient and peaceful Asia-Pacific community by 2040, for the prosperity of all our people and future generations.
Strong, Balanced, Secure, Sustainable and Inclusive Growth
As we move beyond the immediate crisis, we will work to ensure all our people have the opportunities and resources they need to adapt to change – no one should be left behind. Noting the historic significance of the fiscal stimulus already provided, we have and will continue to support our economies for as long as necessary. Our Ministers are exchanging views on macroeconomic and structural policies to accelerate economic recovery in the region. We will target measures where they are needed to facilitate job creation and inclusive economic recovery, including actions that enable women to participate fully in the recovery. We will continue to promote seamless connectivity and resilient supply chains for all our businesses and people. In designing a sustainable recovery, and aligned with global efforts, we reiterate the importance of economic policies, cooperation and growth that contribute to tackling climate change and other serious environmental challenges. We will continue to promote sustainable financing and quality infrastructure development and investment based on relevant APEC work.
Innovation and Digitalisation
Given the significant and diverse impact of COVID-19 on our people and businesses, now is a crucial time to pursue sound economic policies to sustain jobs, increase economic productivity, and advance innovation. Recognising some people and businesses will need to move into new sectors, we will work together on a growth-focused structural reform agenda that delivers inclusive, resilient, sustainable, and innovation-friendly outcomes. We will support our people to adapt to the future of work. We will harness innovation that enables our people and businesses, particularly MSMEs, to emerge stronger through decent work and increased opportunities. We will move forward together towards a digital future, strengthening digital infrastructure and technologies. We acknowledge the importance of cooperation on facilitating the flow of data and strengthening consumer and business trust in digital transactions. We will support measures designed to foster digital transformation and contribute to bridging the digital divide, including digital literacy and skills.
Trade and Investment
We underscore the essential role of trade and investment and an interconnected regional economy in tackling the impact of the COVID-19 pandemic and in enabling a strong economic recovery for all our people. Our Ministers are working to ensure the region’s supply chains support the safe and efficient distribution of COVID-19 vaccines and related goods. We are committed to working together to facilitate the flow of goods and services, especially those that most support our health and economic response at this critical time. We must pave the way for the safe resumption of cross-border travel, without undermining efforts to prevent the spread of COVID-19. We acknowledge the importance of a free, open, fair, non-discriminatory, transparent and predictable trade and investment environment, which can help combat the far-reaching impacts of the COVID-19 pandemic. We will advance economic integration in the region to facilitate recovery. At this critical juncture, the World Trade Organization should continue to demonstrate that global trade rules can support the recovery from the health and economic crisis, and we will work constructively to that end.
We thank New Zealand for chairing and look forward to meeting again at the APEC Economic Leaders’ Meeting in November.
Haumi ē, Hui ē, Tāiki ē.
Join, Work, Grow. Together.
REGISTER WITH TRADE WORKS
Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.
Latest News
Asia-Pacific Business Leaders to APEC Leaders: Speed up economic recovery and regain growth momentum
APEC NEWS RELEASE: Issued by The APEC Business Advisory Council (ABAC) Ha Long, 29 July 2022 – Asia-Pacific business leaders in the APEC Business Advisory Council (ABAC), meeting this week in Ha Long, Viet Nam, expressed deep concern about the unprecedented crises...
TradeWindow: Digital trade provides hope through challenging times
It won’t come as a surprise to many people to hear that we remain in a very challenging situation when it comes to global business. Our exporters are operating in an environment that is difficult to navigate due to continuing uncertainties – the seemingly endless...
TRADE AND CLIMATE POLICIES NEED TO WORK TOGETHER – BUSINESS FORUM
A new report, commissioned by the NZ International Business Forum (NZIBF) and prepared by Adrian Macey, former Climate Change Ambassador and World Trade Organization (WTO) Lead Negotiator, shows that trade policy and actions to address climate change can be...
Trade and Climate Change: State of Play
TRADE AND CLIMATE CHANGE: STATE OF PLAY. A discussion paper prepared for the NZIBF by Adrian Macey, June 2022. Download here.
THE NZ/EU FTA IS LIKE THE CURATE’S EGG
In which we like the good parts of the NZ EU FTA…. Who remembers the curate’s egg? It’s when the nervous Curate, asked by the Bishop, if everything is ok with his boiled egg, replies “It’s good in parts, my Lord”. So too the recently concluded NZ/EU FTA, which has...
ADDRESS TO THE FONTERRA ALUMNI GOVERNANCE DEVELOPMENT WORKSHOP
ADDRESS TO THE FONTERRA ALUMNI GOVERNANCE DEVELOPMENT WORKSHOP AUCKLAND, 29 JUNE 2022 STEPHEN JACOBI EXECUTIVE DIRECTOR NZ INTERNATIONAL BUSINESS FORUM THE GLOBAL GOVERNANCE CHALLENGE Thanks to my friend Janine Smith for inviting me to speak to you today....
NZ EU FTA – A MIXED BAG, SAYS BUSINESS FORUM
Reacting to the overnight conclusion of negotiations for a free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), which brings together a cross section of major exporters, said the outcome was mixed in terms of...
NZ EU FTA COMING DOWN TO THE WIRE – HOLD THE LINE, SAYS BUSINESS FORUM
As negotiations accelerate to conclude an ambitious free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), representing a cross section of major exporters, urges the Government and its negotiators to hold out for...
WTO BACK IN BUSINESS – INTERNATIONAL BUSINESS FORUM
Media release, 19 June 2022 The NZ International Business Forum (NZIBF) welcomes the outcome of the World Trade Organization (WTO) 12th Ministerial Council meeting in Geneva and congratulates Trade Minister O’Connor and officials. “It’s great to see the WTO back in...
Address to the 50th One Stop Update for the Accountant in Business
ADDRESS TO THE 50TH ONE STOP UPDATE FOR THE ACCOUNTANT IN BUSINESS CHRISTCHURCH, WELLINGTON, AUCKLAND, MAY 2022 STEPHEN JACOBI EXECUTIVE DIRECTOR NZ INTERNATIONAL BUSINESS FORUM ONE STOP GLOBAL ECONOMIC UPDATE Thanks to Brightstar for once again inviting me to...
Remarks by Rachel Taulelei to APEC Ministers Responsible for Trade, 21 May 2022
ABAC NEW ZEALAND REMARKS TO ABAC-MINISTERS RESPONSIBLE FOR TRADE DIALOGUE 21 MAY 2022 RACHEL TAULELEI ABAC NZ Chair, Ministers The Free Trade Area of the Asia Pacific (FTAAP) remains the preeminent economic priority for the Asia-Pacific business community. It...
Deepening ECONOMIC INTEGRATION and EQUIPPING BUSINESS FOR DYNAMIC, INCLUSIVE and SUSTAINABLE GROWTH ARE KEY to ECONOMIC RECOVERY, say business leaders
Vancouver, 28 April 2022 –Asia-Pacific business leaders in the APEC Business Advisory Council (ABAC), meeting this week in Vancouver, affirmed their determination to continue to work closely together to respond to the challenge of sustaining the region’s growth...
FROM APEC AND CPTPP TO IPEF – SMALL STEP OR GIANT LEAP?
The US idea of an Indo Pacific Framework (IPEF) continues to gain traction but is not without complication. Aotearoa-New Zealand is a great joiner - from the very beginning of the United Nations to the important economic institutions like the WTO, APEC, CPTPP and...
Remarks to Foreign Affairs, Defence and Trade Committee
NZ INTERNATIONAL BUSINESS FORUM REMARKS TO THE FOREIGN AFFAIRS, DEFENCE AND TRADE COMMITTEE INTERNATIONAL TREATY EXAMINATION OF THE NZ/UK FREE TRADE AGREEMENT 17 MARCH 2022 STEPHEN JACOBI EXECUTIVE DIRECTOR Madam Chair, Members of the Committee Thank you for the...
Submission to the Parliamentary Foreign Affairs, Defence and Trade Committee
INTERNATIONAL TREATY EXAMINATION OF THENEW ZEALAND UNITED KINGDOM FREE TRADE AGREEMENT MARCH 2022 Introduction and Summary 1. This submission is made on behalf of the New Zealand International Business Forum (NZIBF) whose members are listed at Annex A 1 . NZIBF is a...