Towards a consolidation of inter-regional diplomacy

"This year, we have also witnessed the war in Ukraine further adversely impact the global economy. There was a discussion on the issue. We reiterated our positions as expressed in other fora, including the UN Security Council and the UN General Assembly, which, in Resolution No. ES-11/1 dated 2 March 2022, as adopted by majority vote (141 votes for, 5 against, 35 abstentions, 12 absent) deplores in the strongest terms the aggression by the Russian Federation against Ukraine and demands its complete and unconditional withdrawal from the territory of Ukraine. Most members strongly condemned the war in Ukraine and stressed it is causing immense human suffering and exacerbating existing fragilities in the global economy – constraining growth, increasing inflation, disrupting supply chains, heightening energy and food insecurity, and elevating financial stability risks. There were other views and different assessments of the situation and sanctions. Recognising that APEC is not the forum to resolve security issues, we acknowledge that security issues can have significant consequences for the global economy".

What are the major commitments of APEC ?

In a carefully selected terminology the APEC Leaders summarized their position on trade and investment . They consider that "Trade and investment play a critical and indispensable role in enhancing the prosperity of our people by assisting with global challenges and can open up opportunities that offer tangible benefits. We underscore the importance of international trade and the World Trade Organization (WTO) in facilitating global economic recovery, growth, prosperity, alleviation of poverty, the welfare of all people, sustainable development, and facilitating cooperation in relation to the protection and conservation of the environment. We reaffirm our determination to deliver a free, open, fair, non-discriminatory, transparent, inclusive and predictable trade and investment environment. We will continue to work to ensure a level playing field to foster a favourable trade and investment environment and reaffirm our commitment to keep markets open and to address supply chain disruptions".

The question of trade could not be limited to aspects of principle.

Therefore, the APEC Declaration continues with a number of specific elements. Thus, the Leaders "welcome the successful outcomes of the Twelfth WTO Ministerial Conference (MC12) and are determined to uphold and further strengthen the rules-based multilateral trading system, with the WTO at its core. We look forward to the early and effective implementation of the MC12 outcomes. We will cooperate in the WTO to continue to support its necessary reform to improve all its functions, in order to ensure that it can better address existing and emerging global trade challenges. We commit to working together with a view to achieving meaningful progress by the Thirteenth WTO Ministerial Conference".

The question of free trade is, as generally known, on a permanent diplomatic agenda at the regional, inter-regional and global levels. The APEC Leaders could not avoid expressing their position on the current situation. In this context, they recognized " the useful contributions of the Lima Declaration and the Beijing Roadmap on progressing the Free Trade Area of the Asia-Pacific (FTAAP) agenda".

On a positive note, the APEC Leaders assessed also the past achievements in the field under consideration.They "note with appreciation of ABAC's recommendations in advancing the FTAAP Work Programs. We commend the public and private sector collaboration between the Ministers Responsible for Trade (MRT) and ABAC, which underscores APEC's emphasis on advancing an inclusive economic development. We will also continue our efforts in capacity building to improve trade negotiation skills of economies".

As COVID-19 pandemic had a strong negative impact on world economy the APAC Leaders found it appropriate to submit adequate proposals. In their view, "In order to achieve post-COVID-19 economic recovery, it is our priority to drive growth-focused structural reform that is designed to be inclusive, sustainable, and innovation-friendly. This includes fostering an enabling environment for businesses of all types, particularly micro, small and medium-sized enterprises (MSMEs) and start-ups, and collaborating to improve opportunities for them to be competitive, specialised, innovative, and expand into the international markets. We reaffirm our commitment to the Enhanced APEC Agenda for Structural Reform (EAASR) and endeavour to make collective and individual progress, including on the ease of doing business".

The Leaders demonstrated sensitivity in approaching current economic phenomena affecting world economy. They consider that "Macroeconomic and structural policies are vital to tackling rising inflation, ushering in sustained economic recovery, and raising living standards in the region. We reaffirm the importance of sustainable financing, capacity building, and technical assistance for innovation and growth as well as for addressing all environmental challenges, including climate change. We will continue to advance digital tools to facilitate economic activities and the provision of public services, including the delivery of assistance and stimulus packages to the people, and to drive financial inclusion".

Transports and connectivity are vital fields of action in all regions.

This seems to be the reason for which the APEC Leaders "commend APEC's work on safe passage, including under the Safe Passage Taskforce. We will further our cooperation to promote safe and seamless cross-border travel within our region as we emerge from the COVID-19 pandemic, including for essential workforces, including air and maritime crew, as well as improve infrastructure and tools, such as the interoperability of vaccination certificates and ensuring the APEC Business Travel Card (ABTC) is inclusive".

On connectivity the APEC Leaders "reaffirm our commitment to enhance an open and interconnected Asia-Pacific region, including through the implementation of the APEC Connectivity Blueprint (2015-2025). We will strengthen physical, institutional and people-to-people connectivity as well as take advantage of digital connectivity, and will intensify efforts to promote regional, sub-regional and remote area connectivity through quality infrastructure development and investment. We will promote regenerative tourism that is sustainable, inclusive and resilient, and to connect the entire tourism eco-system. We support efforts to foster open, secure and resilient supply chains, enhance supply chain connectivity and minimise supply chain disruptions. We encourage economies to continue efforts to remove barriers to logistics-related services. We welcome the endorsement of Phase Three of the Supply Chain Connectivity Framework Action Plan by the APEC Ministers".