Thu, 08 Dec 2022

BANGKOK,19th November 18, 2022 (WAM) - The Leaders of the 21 APEC member economies issued the 2022 Leaders' Declaration following the 29th APEC Economic Leaders' Meeting chaired by the Prime Minister of Thailand, Prayut Chan-o-cha.

The declaration affirms APEC Leaders' long-standing commitment to promote strong, balanced, secure, sustainable and inclusive growth as well as their commitment to realize the APEC Putrajaya Vision. In their declaration they said that they are determined to uphold and further strengthen the rules-based multilateral trading system. They welcomed progress this year in advancing the Free-Trade Area of the Asia-Pacific. They will strengthen APEC's standing as the premier economic forum in the region and as an incubator of ideas.

Given the continued efforts of economies to respond to and mitigate the effects of the COVID-19 pandemic, leaders are determined to achieve a post-COVID-19 economic recovery and will reinforce systems to prepare for future crises.

They recognize that more intensive efforts are needed to address today's challenges such as rising inflation, food security, climate change and natural disasters, among others.

Leaders also endorsed the Bangkok Goals on the Bio-Circular-Green (BCG) Economy-a comprehensive framework to further APEC's sustainability objectives. Leaders will advance these goals in a bold, responsive and comprehensive manner, merging existing commitments with new aspirational ones.

They will meet again in the United States of America in 2023. Leaders also welcomed Peru's offer to host APEC in 2024 and the Republic of Korea's offer for 2025.

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