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APEC leaders to jointly develop innovations in regional economy

According to the Economic Leaders’ Statement, APEC economies "will move forward together towards a digital future, strengthening digital infrastructure and technologies"

SIDNEY, July 16. /TASS/. Leaders of Asia-Pacific Economic Cooperation (APEC) economies agree to implement a program of reforms providing inclusive, sustainable and comfortable conditions for innovations in regional economies, APEC economies said in the Economic Leaders’ Statement released after the APEC virtual summit on Friday.

"Given the significant and diverse impact of COVID-19 on our people and businesses, now is a crucial time to pursue sound economic policies to sustain jobs, increase economic productivity, and advance innovation," the Statement says. "Recognizing some people and businesses will need to move into new sectors, we will work together on a growth-focused structural reform agenda that delivers inclusive, resilient, sustainable, and innovation-friendly outcomes," APEC leaders noted.

APEC economies "will move forward together towards a digital future, strengthening digital infrastructure and technologies," according to the Statement.

"We acknowledge the importance of cooperation on facilitating the flow of data and strengthening consumer and business trust in digital transactions. We will support measures designed to foster digital transformation and contribute to bridging the digital divide, including digital literacy and skills," the document says.

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