APEC Ministers Affirm Cooperation for Economic Recovery

Politics Economy

Tokyo, Nov. 16 (Jiji Press)--Ministers from the 21 APEC member economies vowed on Monday to continue working together to support the strong economic recovery in defiance of the novel coronavirus pandemic.

"We will continue to cooperate and act swiftly to foster quality growth, safeguard the lives and livelihoods of our people to enhance the resilience of our economies, and support strong and inclusive economic recovery," the ministers from the Asia-Pacific Economic Cooperation forum members, including Japan, the United States and China, said in a joint statement adopted at their videoconference. The participants shared the view that the pandemic "has gravely impacted" the Asia-Pacific region and the entire global economy.

An APEC ministerial statement was adopted for the first time in three years. Last year's APEC ministerial meeting was canceled due to political unrest in Chile, which was the 2019 chair of the multilateral forum. In 2018, an annual APEC ministerial meeting took place, but participants were unable to adopt a joint statement in the face of the protectionist stance of the administration of U.S. President Donald Trump.

Following the latest ministerial session, attention will be paid to whether a joint declaration will be adopted at an APEC summit to be held online Friday.

The ministerial statement also said, "We recognize the importance of a free, open, fair, nondiscriminatory, transparent and predictable trade and investment environment to drive economic recover at such a challenging time."

[Copyright The Jiji Press, Ltd.]

Jiji Press