The 26th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting concluded on Sunday (18.11.2018) in Port Moresby, capital of Papua New Guinea (PNG).
Leaders at the meeting discussed a range of issues and APEC economies have continued to make great efforts to ensure that the Asia-Pacific region continues to experience inclusive economic growth and integration so that all citizens enjoy a better standard of living, PNG Prime Minister Peter O'Neill told a press conference after the meeting.
Digital economy
Some issues discussed during the leaders' meeting included digital economyl, regional economic integration, free trade area around the Asia-Pacific region, micro, small and medium-sized enterprises, services, innovation, gender and food security, he added.
APEC leaders will continue to focus on efforts to reduce inequality, ensure economic diversification and work together to reduce trade barriers, boost growth and ensure people's prosperity, he said.
O'Neill said leaders also recognised that there are some technological disruptions within the region, so action is needed on jobs, education and training.
Most APEC leaders also said that the work in APEC is very important, particularly achieving the Bogor goals. All 21 economies should aim to achieve the Bogor goals by 2020, O'Neill said.
"In 2020, APEC is looking at introducing what they call a post-2020 vision and this is the work we need to continue to move forward and, of course, develop in the coming years," he said.
The Bogor Goals were established in Bogor, Indonesia, in 1994 to achieve free and open trade and investment among developed economies by 2010 and among developing economies by 2020.
Growth in the Asia-Pacific region is much higher than global growth in recent years, but it is very carefully stressed that "we must not be complacent, we must continue to embrace new developments and embrace new technology," O'Neill said.
The next APEC Economic Leaders' Meeting will be held in Chile in 2019.
About APEC
The Asia-Pacific Economic Cooperation (APEC) forum, founded in 1989 and based in Singapore, brings together 21 economies that in 2016 represented 39% of the world's population, 60% of global GDP and 47% of international trade: Australia, Brunei, Canada, Chile, China, South Korea, the United States, the Philippines, Hong Kong (China), Indonesia, Japan, Malaysia, Mexico, New Zealand, Peru, Papua New Guinea, Russia, Singapore, Thailand, Taipei (China) and Vietnam.
Source: Xinhua
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