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On the 20th, the leaders of the Asia Pacific Economic Cooperation Agency (APEC) decided to strengthen economic and health cooperation to overcome the new coronavirus infection (Corona 19).
Leaders of 21 APEC member states, including President Moon Jae-in, US President Donald Trump, and Chinese President Xi Jinping, adopted the ‘Kuala Lumpur 2020 Declaration’ at the video summit.
The summit declaration was adopted at the APEC summit three years after the adoption of the ‘Da Nang Declaration’ in 2017, and the declaration was not drafted in 2018, and the APEC summit itself was not held the year past.
First, in the statement, “we must cooperate constructively in diagnostic testing, development, production, manufacture and distribution of essential medical supplies and services”, and “equitable access to medical measures such as vaccines it should go smoothly. “
When it comes to recovering from the economic shock, he said: “It is important to ensure that the flow of trade and investment continues during difficult times” and “We will resolve unnecessary trade barriers and strengthen the resilience of the supply chain.”
He said: “We will work together to use all available policy measures to minimize the impact of Corona 19 on people’s livelihoods.”
Leaders also agreed that, in the long term, they should accelerate economic integration, such as trade and investment liberalization.
This was reflected in detail in the ‘Putrajaya Vision 2040’ adopted as APEC’s long-term goal for 2040 in conjunction with the summit declaration. ‘Putrajaya’ is the administrative capital of Malaysia, the president of the conference.
Since the deadline for the ‘Borgo Declaration’ adopted in 1994 was this year, it succeeded and set a new goal.
The leaders stated that as APEC’s vision of the future, “to create an open, dynamic, resilient and peaceful Asia-Pacific community by 2040 for the prosperity of all citizens and future generations.”
At the same time, he presented a vision for the future in three areas: ▲ trade and investment ▲ innovation and the digital economy ▲ inclusive and sustainable growth.
The leaders said: “We will further develop economic integration within the region in a market-driven manner, including work on the Asia Pacific Free Trade Area (FTAAP) agenda.”
Furthermore, the leaders emphasized cooperation to promote the development of innovative technology, strengthen digital infrastructure, and revitalize the movement of data, saying: “We will create a market-driven environment supported by the digital economy and innovation.”
Leaders have tasked senior officials with completing the ‘Comprehensive Implementation Plan’ next year so that this vision can be put into practice.
Malaysian Prime Minister Muhidin Yasin, the country’s president, said in an opening remarks for the day: “APEC accounts for 60% of the world’s gross domestic product (GDP)” and “as such, APEC will play an important role in boosting of economic recovery after corona pandemic “. “He said.
“We need trade and investment to get out of the current economic recession,” Prime Minister Muhidin said, emphasizing unity among member states, while urging people around the world to have fair access to affordable vaccines. .
President Trump and President Xi Jinping attended the meeting after the defeat of the presidential election and were concerned about the conflict of views, but managed to declare the summit and adopt a new vision of the future.
After completing the summit, Prime Minister Muhidin said: “The impact of the trade war (between the United States and China) was overshadowed by the crown pandemic.”
(Yunhap news)
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