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The 22nd APEC Economic Leaders’ Declaration was Issued

On November 10 and 11, 2014, the 2014 APEC Economic Leaders’ Meeting (AELM) and other related meetings were held in Beijing, China. Prime Minister Shinzo Abe attended the AELM as a representative of Japan. At the meeting, the APEC Leaders discussed various issues, focusing on advancing regional economic integration, strengthening comprehensive connectivity and infrastructure development, and promoting innovative development, economic reform and growth, and as an achievement of the meeting, the 22nd APEC Economic Leaders’ Declaration, titled “Beijing Agenda for an Integrated, Innovative and Interconnected Asia-Pacific” and a statement of the 25th anniversary of APEC titled “Shaping the Future through Asia-Pacific Partnership” were issued.

1. Outline of the AELM

On November 11 (Tues.), the AELM was held, chaired by China’s President Xi Jinping, and the Leaders discussed various issues, focusing on advancing regional economic integration, strengthening comprehensive connectivity and infrastructure development, and promoting innovative development, economic reform and growth.

1) First retreat session: Advancing regional economic integration

  1. The Leaders discussed various topics, including supporting the multilateral trading system, commitments to roll back protectionist measures, realizing the Free Trade Area of the Asia-Pacific (FTAAP), and promoting global value chains. Many economies expressed deep concern regarding the stalemate of WTO negotiating function and stated that that APEC should show strong support for the multilateral trading system and strive to find a solution to the issue.
  2. Prime Minister Abe stated the following points:
  1. Currently, the WTO negotiating function is facing a critical situation, and it is necessary for the Leaders to consider approaches to restoring the WTO’s credibility, including new measures for resolving the critical situation. The Leaders should continue to demonstrate strong resolve to contain protectionist measures. Japan hopes for further liberalization of trade of the IT-related products in the APEC economies, aimed at contributing to an early conclusion of the ITA (WTO Information Technology Agreement) expansion negotiation, for which global industries have great expectations;
  2. Concerning the FTAAP, Japan supports the Beijing Roadmap for APEC’s Contribution to the Realization of the FTAAP, and will actively strive to promote APEC’s efforts, including the Trans-Pacific Strategic Economic Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP), to achieve FTAAP. Meanwhile, Japan intends to accelerate discussions toward the liberalization and facilitation of trade investment concerning manufacturing-related services, as a measure for addressing next-generation trade and investment issues; and
  3. To establish more efficient global value chains, Japan will lead the discussions on improving the investment environment and enhancement of resilience of value chains.

2) Working lunch: Strengthening comprehensive connectivity and infrastructure development

  1. Many of the Leaders welcomed the APEC Connectivity Blueprint, which was formulated based on the agreements reached in the 2013 Leaders’ Meeting in Bali, and they also expressed their anticipation toward the implementation of the blueprint.
  2. Prime Minister Abe stated that: 1) there is a significant challenge in appropriately addressing the Asian-Pacific region’s huge demands for infrastructure, and Japan will further proactively encourage the efforts through Public Private Partnerships in the region; and 2) to achieve the highly-qualified growth and the sustainable development, it is also important for the economies to take into consideration the quality of infrastructure provided, including lifecycle costs, while maintaining compliance with high-level standards, such as those having consideration for environmental and social aspects as well as transparency, leading to local employment and capacity building.
  3. Prime Minister Abe also stated that the Ebola Virus Disease epidemic is a threat to global peace and stability, and that Japan will increase its support to up to 100 million dollars, in addition to the 40 million dollars it had already announced, and will continue its contribution to international efforts to halt the Ebola outbreak.

3) Second retreat session: Promoting innovative development, economic reform and growth

  1. The Leaders discussed various issues aiding in the promotion of the growth of the Asia-Pacific region, including promoting economic reform, innovation, energy, women’s economic empowerment, measures against corruption, terrorism, the Ebola Virus Disease epidemic, and measures for addressing global challenges, such as climate change.
  2. Prime Minister Abe stated the following points:
  1. Japan will contribute to further economic growth in the APEC region through revitalizing the Japanese economy with bold regulatory reforms contained in Abenomics;
  2. It is essential to achieve a good balance between economic development and measures against climate change by developing the LNG market and making thermal power generation, a base-load power source, more efficient and low-carbon emitting to the greatest extent possible. To achieve this goal, Japan will endeavor to distribute its clean energy technology—the most advanced in the world—, through which it will contribute to improving global energy efficiency; and
  3. Japan held the symposium titled “World Assembly for Women in Tokyo” in September 2014, and will proactively encourage women's empowerment in APEC economies, including such efforts as sharing information of the collection of best practices of about 50 leading companies in APEC regions that contribute to women’s economic empowerment, thereby further enhancing the economic potential in the region to the maximum extent possible,.

2. APEC Economic Leaders’ Declaration

Based on the discussions above, the 22nd APEC Economic Leaders’ Declaration, titled “Beijing Agenda for an Integrated, Innovative and Interconnected Asia-Pacific” was issued as an achievement of the AELM. The declaration includes endorsed measures with which the economies will endeavor to tackle challenges across the Asia-Pacific region, along with APEC’s prioritized fields: [i] advancing regional economic integration, [ii] promoting innovative development, economic reform and growth, and [iii] strengthening comprehensive connectivity and infrastructure development.

Major agreements

  1. Advancing regional economic integration
    • Pursuing free and open trade and investment
    • Advancing global value chain development and supply chain connectivity
    • Strengthening economic and technical cooperation
  2. Promoting innovative development, economic reform and growth
    • Economic reform, new economy, innovative growth, inclusive support, and urbanization
  3. Strengthening comprehensive connectivity and infrastructure development
  4. Looking forward

Annex A: the Beijing Roadmap for APEC’s Contribution to the Realization of the FTAAP
Annex B: APEC Strategic Blueprint for Promoting Global Value Chain Development and Cooperation
Annex C: APEC Accord on Innovative Development, Economic Reform and Growth
Annex D: APEC Connectivity Blueprint for 2015-2025

Furthermore, a statement of the 25th anniversary of APEC, titled “Shaping the Future through Asia-Pacific Partnership” was also issued.

3. Dialogue with the ABAC

The Leaders held a dialogue with members of the APEC Business Advisory Council (ABAC). In response to the questions from the ABAC members, Prime Minister Abe explained Japan’s growth strategy under Abenomics and also described Japan’s stance on the principles that it emphasizes in developing infrastructures, such as infrastructure quality.

Reference

The 22nd APEC Economic Leader’s Declaration(PDF:67KB) PDF File

Release date

November 12, 2014

Division in charge

APEC Office, Trade Policy Bureau

Related Information

APEC

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