Joint Press Release with the Ministry of Foreign Affairs
Overview of Economic Leaders’ Meeting at APEC 2011

Prime Minister Yoshihiko Noda attended the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting held in Honolulu, the U.S., on November 12 and 13. The Economic Leaders' Meeting adopted the Leaders' Declaration, "The Honolulu Declaration - Toward a Seamless Regional Economy," and discussed "growth and jobs creation," "regulatory reform and competitiveness," and "energy efficiency and energy security."

1. APEC Leaders' Declaration

In the Leaders' Declaration adopted by the Meeting, "The Honolulu Declaration - Toward a Seamless Regional Economy," the Leaders agreed on specific outcomes to be pursued toward the achievement of the goals set forth during APEC Japan 2010: the Yokohama Vision and the Growth Strategy (see Appendix).

This year's APEC in the U.S. focused on three priority issues: (1) Strengthening Regional Economic Integration and Expanding Trade, (2) Promoting Green Growth, and (3) Regulatory Convergence and Cooperation. The Leaders' Declaration lists policies that member economies agreed to implement, including the following:

"Common principles to promote effective, non-discriminatory, and market-driven innovation policy" to prevent innovation policy from restricting trade and investment
Measures to liberalize trade and investment in environmental goods (e.g., products contributing to reducing environmental burdens) and services, including reducing the tariff rates applicable to environmental goods to 5% or less by the end of 2015

2. Overview of the Economic Leaders' Meeting

The Economic Leaders' Meeting, chaired by President Obama, focused on "growth and jobs creation," "regulatory reform and competitiveness," and "energy efficiency and energy security."

Growth and job creation
Following a report by the IMF's Managing Director, Ms. Christine Lagarde, member economies discussed the impact of the European economy on the Asia-Pacific region, the necessity of regional cooperation, and the importance of regional economic integration toward growth and employment. Prime Minister Noda, after announcing his decision to begin consultations toward participating in the TPP negotiations with the countries concerned, explained his views on and responses to global economic conditions, and Japan's economic growth strategy.
Regulatory reform and competitiveness
Discussions were held on regulations focusing on utilizing the private sector as engine of growth. Member economies made presentations on their ideas and experiences concerning the development and review of regulations.
Energy efficiency and energy security
During the session on energy efficiency and energy security, Prime Minister Noda delivered keynote remarks on (1) Japan's energy conservation efforts to achieve the world's highest energy efficiency, (2) challenges Japan is taking on in its future energy policy, and (3) future cooperation on energy in the Asia-Pacific region. Member economies explained their policies aimed at increasing energy efficiency and discussed ways to ensure energy security while reducing environmental impacts, such as optimizing energy mix and utilizing natural gas.