APEC leaders issue 2022 Declaration

Bangkok, The Gulf Observer: Leaders of 21 APEC member economies issued the 2022 Leaders’ Declaration following the 29th APEC Economic Leaders’ Meeting and the Bangkok Goals on the Bio-Circular-Green Economy.

The leaders’ meeting was chaired by Prime Minister of Thailand Prayut Chan-o-cha, according to a release issued by the APEC Economic Leaders’ Meeting and received here on Saturday.

The declaration affirms APEC Leaders’ long-standing commitment to promote strong, balanced, secure, sustainable, and inclusive growth as well as their commitment to realizing the APEC Putrajaya Vision.

In their declaration, the APEC leaders expressed their resolve to uphold and further strengthen the rules-based multilateral trading system.

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

The APEC leaders recognize that more intensive efforts are needed to address today’s challenges, such as rising inflation, food security, climate change, and natural disasters.

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.

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