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APEC summiteers adopt final declaration

November 11, 2014, 12:47 UTC+3 BEIJING

Strengthening regional economic integration, contribution to innovative progress, structural reforms, deepening interrelationship and improvement of the infrastructure are among the priority topics

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© EPA/APEC Xinhua

BEIJING, November 11. /TASS/. Leaders of the APEC member-countries adopted a final declaration on Tuesday.

The declaration summed up key results of the work on three priority topics of the APEC-2014 summit — strengthening regional economic integration; contribution to innovative progress, structural reforms and the economic growth; deepening interrelationship and the improvement of the infrastructure.

The Asia-Pacific Economic Cooperation summiteers confirmed the commitment to supporting the multilateral trade system and implementing the Bogor Goals agreed by the APEC leaders in Indonesia in 1994.

The document stresses the need to launch the creation of an Asia Pacific free trade zone, take further steps towards liberalisation of environmental goods trade, make contribution to electronic trading and ensure the protection of authors’ rights.

The APEC leaders voiced concern over the deadlock in implementing the WTO Agreement on Trade Facilitation that undermines confidence in the organisation. The declaration says the APEC countries extended the obligations for refraining from protectionist measures in trade until 2018. Special attention was paid to improving global value chains and deepening interrelation of supply chains, and to intensifying economic and technical cooperation.

The APEC leaders expressed readiness to adopt several collective measures in such areas as structural economic reform, “new economy”, innovation growth, universal development and unban expansion.

The APEC countries should double efforts to overcome the post-crisis period and ensure the promising future despite the present-day challenges, the leaders said in a special statement on the occasion of the 25th anniversary of the forum.

Heads of state and government from the APEC's 21 member-economies also agreed on a schedule for future summits. These will be hosted by Peru, Vietnam, Papua New Guinea, Chile, Malaysia, New Zealand and Thailand from 2016 to 2022.

Next year's event will be held in the Philippines.

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