APEC leaders approved the final Declaration of the summit



In Peru, the summit of the Asia-Pacific economic cooperation adopted a Declaration. “Today, eight years later, after Peru first for myself has carried the chairmanship in APEC, the global economy continues to gradually recover, but faced with increasingly serious and interrelated challenges”, – stated in the document.

“Stressing the importance of achieving quality growth, we will focus on our policies and strategic plans contributed substantially to improving the quality of life of people and increasing social equality in the region, – quotes TASS the text of the document. Thus we recognize that our efforts to implement the goals and objectives of APEC should be consistently aimed at improving the lives of our peoples.”

The leaders called for cooperation to improve the system of education in the region.

“Given the significant importance of full and effective employment of all population groups to build human capital in the region, we also recognize that involvement in the economic activities of women, youth and people with disabilities should take high priority in the agenda of APEC for enhancing quality of growth and human development”, – stated in the Declaration.

“We remain committed to the use – collectively and individually – all the tools of monetary, fiscal and structural policies in the interests of strengthening world demand and eliminate restrictions, the document reads. – We reaffirm the importance of adopting complementary measures to reinforce our efforts to ensure strong, sustainable, balanced and inclusive growth”.

The leaders reaffirmed their commitment to resolving the previously outlined problems in the field of monetary policy and regulation of the exchange rate of national currencies.

“We will refrain from the devaluation and manipulation of exchange rates to enhance competitiveness and to resist all forms of protectionism, – the document says. – Excessive volatility and disorderly fluctuations in exchange rates can have adverse implications for economic and financial stability.”

“A combination of factors of social inequality in some economies, and uneven economic development, environmental degradation and the risks posed by climate change, undermines prospects for sustainable development, exacerbating uncertainty in the near future, – highlighted in the Declaration. Growing against this background, doubts about the benefits of globalization and associated with it integration processes encourage the manifestation of protectionist tendencies”.

The leaders reaffirmed their commitment to preserve the global leadership of the APEC forum, “able through cooperation to solve the most pressing current problems and to generate ideas on building the future.” In this context highlighted the implementation of the Agenda for sustainable development for the period up to 2030.

“We reiterate our determination to keep our own markets open and resist all forms of protectionism, Reaffirming our commitment to fighting protectionism through the imposition of a moratorium on protectionist measures, which agree to extend until the end of 2020, and also to turn already existing protectionist and trade-distorting measures that weaken trade, slow recovery and hinder the development of the world economy”, – stated in the document.

“Recognizing the importance of all the provisions of the final Declaration of the Ministerial conference of the WTO in Bali and Nairobi, we are committed to the development of the success of the said meetings to continue the implementation of the achieved results according to their agreements and give priority to the advancement of the negotiations on the outstanding issues of the Doha agenda, is highlighted in the document. – A wide range of issues of importance and interest to the Asia-Pacific economies today, may legitimately be discussed by the WTO”.

In this regard, the leaders instructed officials to “solidarity, and to work energetically with all WTO members to jointly identify areas of work to achieve a positive and meaningful outcome at the next WTO Ministerial conference and in the future.”

“We reaffirm our commitment to the promotion of a comprehensive and systematic manner towards the eventual formation tsst (Asia-Pacific free trade zone) as the main tool for implementing the agenda of APEC in the area of regional economic integration”, – stated in the document.

The Declaration also calls for “the implementation of unilateral economic reforms and the signing of a comprehensive and high standard regional trade agreements and free trade agreements”.

As for the ways of formation of the Asia-Pacific free trade area, the summit noted that the process should be based on “existing regional initiatives and through various possible mechanisms, including such as the TRANS-Pacific partnership (TPP) and regional Comprehensive economic partnership (VREP)”.

“We urge that all regional initiatives, including the TTP and VREP, remained open, transparent and inclusive, and relied on each other in order to jointly promote the liberalization and facilitation of trade and investment activities in the region, as well as the eventual formation of tsst”, – stated in the Declaration.

The summit also called APEC as an “incubator” of ideas for Asia-Pacific free trade zone.

“We agreed that APEC economies should continue efforts to identify and solve trade and investment issues of the next generation, as well as to promote new initiatives in areas that APEC economies consider necessary for the eventual formation of tsst”, – the document says.

“Access to energy and energy security are vital for our overall well-being and future of the region, – stated in the document. – Emphasize the need for stability and transparency of global energy markets”.

The leaders expressed readiness to develop cooperation in such spheres as renewable energy sources and energy efficiency “in order to create conditions for the growth of trade and investment activity and economic development while ensuring access of all economies in the region to sources of energy.”

“We strongly condemn terrorism in all its forms and manifestations. We are aware of the serious threat that terrorism posed to the fundamental values of our free and open economies”, – quotes RIA “news” the text of the document.

The parties called for continued exchange of best practices “in the four related fields, as provided for in the Consolidated APEC strategy on counter-terrorism and security trade”.

As pointed out by the newspaper VIEW, the visit of Vladimir Putin at the APEC summit in Peru showed that the Pacific region is Russia’s growing importance and the reversal of Russia in the East, it is important for countries in the region.