Centerpiece of Inclusive and Sustainable Economic Growth for APEC Ministers

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Ministers from around the world gathered to discuss trade, economic recovery and technical cooperation at the latest APEC Ministerial in New Zealand’s host year.

Co-chaired by Foreign Minister Nanaia Mahuta and Minister of Trade and Export Growth Damien O’Connor, the talks focused on a resilient recovery from COVID-19 in the Asia-Pacific region.

“APEC ministers have recognized the need for a COVID recovery that ensures no one is left behind. This especially includes women and indigenous peoples who are hit hardest by the global pandemic, ”said Nanaia Mahuta.

“It is also important that APEC continues to underscore its strong support for global climate commitments and a low-emissions, climate-resilient future for the region.

“I was delighted that we could agree on a plan to stop the increase in harmful subsidies for fossil fuels – which lead to environmental degradation and contribute to climate change,” said Nanaia Mahuta.

Minister Damien O’Connor also said real progress has been made under New Zealand’s APEC leadership

“Since trade ministers discussed vaccine supply chains in June, most APEC economies have made it easier to access vaccines by lowering tariffs, rejecting export restrictions and making transit vaccines through ports more quickly.

“Ministers agreed that it is essential for APEC to help the WTO achieve an ambitious package of outcomes as we stabilize it again in December. This approach will benefit everyone. Free, fair and open trade will get us through the pandemic, ”said Damien O’Connor.

In hosting APEC, New Zealand’s priorities have been:

  • Agreement on economic and trade policies to strengthen the COVID-19 recovery;
  • Increase inclusion and sustainability for a more resilient recovery, and
  • Pursue innovation and a digital recovery.

The APEC Ministerial is one of the major events in New Zealand’s series of events from 8 to 13 November.

© Scoop Media


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