SIXTEENTH APEC ECONOMIC LEADERS' MEETING
"A NEW COMMITMENT TO ASIA-PACIFIC DEVELOPMENT"
Lima, Peru, 22-23 November 2008
We, the Economic Leaders of the Asia-Pacific Economic
Cooperation (APEC) forum, gathered in Lima, Peru, under the theme: "A New
Commitment to Asia-Pacific Development". The theme chosen for APEC 2008
highlights the importance of reducing the gap between developed and developing
member economies. We are committed to strengthening the social dimension of
globalization and ensuring that all members and all sectors of our economies can
access the skills and opportunities to participate in, and benefit from,
regional and global trade and investment.
The current global financial crisis is one of the most
serious economic challenges we have ever faced. We will act quickly and
decisively to address the impending global economic slowdown. We welcomed the
monetary and fiscal stimulus provided by APEC member economies and will take all
necessary economic and financial measures to resolve this crisis, taking the
necessary actions to offer hope to those most in need. Our resolve to address
the deteriorating global economic situation, and support a prompt, ambitious and
balanced conclusion to the WTO Doha Development Agenda (DDA) negotiations, is
outlined in a separate statement issued at this meeting.
REGIONAL ECONOMIC CHALLENGES
Advancing Regional Economic Integration
Last year we agreed to an ambitious long-term agenda to
strengthen regional economic integration. We welcomed the 2008 progress report
from Ministers and officials on efforts to achieve this goal. We endorsed the
2009 work plan for the APEC Regional Economic Integration (REI) Agenda in order
to build upon this year's accomplishments on REI and to accelerate efforts in
all areas of this agenda.
Our goal of free and open trade and investment in the
Asia-Pacific region will be achieved through a series of unilateral reform
measures combined with bilateral, regional and multilateral liberalization. We
are committed to continuing the implementation of APEC's REI Agenda. In that
regard, we:
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welcomed progress made by member economies towards the
Bogor Goals of free and open trade and investment in the Asia-Pacific
region. We reinforced our commitment to achieving the Bogor Goals to promote
growth, development and a rapid recovery from the current global slowdown.
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we commended the progress made in examining the
prospects and options of a possible Free Trade Area of the Asia-Pacific (FTAAP)
as a long-term prospect. We noted advice from Ministers that while an FTAAP
would likely be of economic benefit to the region as a whole, there would
also be challenges in its creation. We instructed Ministers and officials to
undertake further steps in examining the prospects and options of a possible
FTAAP, including by conducting further analytical work on the likely
economic impact of an FTAAP, and discussing the possible capacity building
requirements for any possible future negotiations. In addition, we
instructed officials to undertake initiatives designed to promote greater
convergence among economies in key areas of APEC's trade and investment
portfolio, including areas such as customs administration, trade
facilitation and cross-border services.
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welcomed five new model measures, resulting in a set
of 15 completed chapters for Regional Trade Agreements (RTAs) and Free Trade
Agreements (FTAs) that will promote high-quality RTAs/FTAs and greater
consistency and coherence among these agreements in the region.
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endorsed the continued process of implementation of APEC's second Trade Facilitation Action Plan (TFAP II) to achieve our
stated goal of reducing trade transaction costs by an additional five
percent between 2007 - 2010.
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welcomed the APEC Investment Facilitation Action Plan
(IFAP) to improve the investment environment in the region and commended the
initiation of the study of bilateral investment agreements and
core-investment-related activities of existing free-trade agreements.
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emphasized the importance of strengthening financial
markets in the region and welcomed the capacity building activities
initiated by APEC Finance Ministers to reform capital markets. We recognized
the pressing need for infrastructure development in APEC economies and
welcomed the work undertaken by Finance Ministers on linkages between
private public partnerships and capital market development. In this regard,
we called on Finance Ministers to examine more fully the means to optimize
linkages between private infrastructure finance and growth and development.
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reaffirmed our commitment to strengthen the protection
and enforcement of intellectual property rights (IPR) in the region, and
reiterated the importance of comprehensive and balanced IPR systems that
provide for and protect the incentives that encourage creation and
innovation. We will continue to promote greater collaboration among our IPR
experts and enforcement authorities.
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we welcomed the progress by economies to implement the
APEC Anti-Counterfeiting and Piracy Initiative as well as efforts to improve
patent systems in the region and look forward to further progress in this
area next year.
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welcomed the Digital Prosperity Checklist as an
important tool in APECīs efforts to promote sustained economic growth
through the use and development of information and communication
technologies.
We welcomed the views and work carried out by the APEC
Business Advisory Council (ABAC) on improving the business environment, and
called for an active participation of small and medium enterprises (SMEs) in the
REI agenda.
We asked Ministers and officials to continue the
implementation of the REI Agenda as outlined in the progress report and report
back to us in 2009 with a summary of steps taken to promote this agenda.
Noting the increased economic integration in the region, we
also discussed Australiaīs suggestions on how regional architecture can keep
pace with changing circumstances.
Implementing Structural Reform
We agreed that our Leader's Agenda to Implement Structural
Reform (LAISR) is a central element of APEC's agenda, integrating the three
pillars of trade and investment liberalization, business facilitation, and
economic and technical assistance and cooperation. We reiterated the fundamental
importance of tackling ?behind-the-border' barriers to trade and investment
in the creation of well-performing, resilient and robust economies.
We welcomed the outcomes of the Structural Reform Ministerial
Meeting (SRMM), held in Melbourne in August 2008 and noted the endorsement by
Ministers of APEC's Good Practice Guide on Regulatory Reform. We recognized
the importance of developing a program of practical support for member economies
to successfully undertake structural reform. This includes capacity building
initiatives in the areas of regulatory reform, corporate governance and other
LAISR areas. We encouraged active participation in the voluntary system of peer
or self-review of our economies' efforts to implement structural economic
reform.
We welcomed publication of the annual APEC Economic Policy
Report and the accelerated work plan for Private Sector Development endorsed by
Trade Ministers in June.
Improving Food Security in the Asia-Pacific
We are deeply concerned about the impact that volatile global
food prices, combined with food shortages in some developing economies, are
having on our achievements in reducing poverty and lifting real incomes over the
last decade. The poor are especially vulnerable to increases in food prices. We
support a fully coordinated response and a comprehensive strategy to tackle this
issue through the Comprehensive Framework for Action developed by the United
Nations (UN) Task Force on the Global Food Security Crisis. We will support the
application and implementation of this Framework within the region, as
appropriate.
Individual and collective policy responses to expand food and
agricultural supply in the region should strengthen market forces to encourage
new investment in agricultural technology and production systems. A prompt,
ambitious and balanced conclusion to the WTO DDA negotiations would deliver
substantial improvements in market access and reduce market-distorting measures
in global agricultural trade.
We commended the work that APEC has undertaken in the area of
food and agriculture, and welcome the work plan endorsed by APEC Ministers to
refine and strengthen APEC's agenda to meet current and emerging food security
challenges. We also recognized the role of ABAC in raising the importance of
food and agricultural issues on the APEC agenda.
We directed APEC to increase technical cooperation and
capacity building that will help foster agricultural sector growth, including
efforts to increase food production; improve agricultural education; enhance
natural resource management; promote the development of next generation biofuels
made from non-food materials; build well-functioning markets and regulatory
institutions; and make food storage, transportation, and distribution systems
more efficient. We pledged cooperation to bolster conditions conducive to
promoting agricultural research and development. We directed APEC to help member
economies develop science-based regulatory frameworks to benefit from the
potential of agricultural biotechnology.
ADDRESSING THE SOCIAL DIMENSION OF GLOBALIZATION
Promoting Corporate Social Responsibility (CSR) in the
Asia-Pacific
We stressed that globalization based on economic, social and
environmental progress can bring sustainable benefits to all APEC economies,
their business sectors and their people. CSR can reinforce the positive effects
that trade and investment have on growth, competitiveness and sustainable
development. We encourage responsible and transparent business conduct that
adheres to local legislation and regulations and takes into account guidelines
related to CSR that have been developed by multilateral bodies, as appropriate.
We agreed that given increasing expectations amongst global
consumers, investors and business partners regarding responsible and sustainable
business practices, the voluntary activities that comprise CSR will remain an
important aspect of doing business in the 21st century. We recognize that all
stakeholders in our communities benefit when governments foster a business
environment that encourages voluntary CSR practices. This will create greater
value both for businesses and for the societies in which they function.
We welcomed the work that has been undertaken within APEC to
promote CSR awareness and capabilities in the region, and future work that will
encourage dialogue on CSR among relevant stakeholders including: businesses,
governments, employees, communities, consumers, investors, and non-governmental
organizations. We recognized ABAC's efforts in promoting CSR awareness and
uptake in the region through the dissemination of information regarding CSR
principles, practices and benefits.
We encouraged companies to incorporate CSR into their
business strategies to take account of social, labour and environmental
concerns. The development of CSR in the region will depend on the different
domestic economic, social and cultural context of APEC members. We agreed to
promote CSR practices in APEC economies on a voluntary basis in business
operations of all sizes to complement public policies that foster sustainable
development.
Combating Corruption in the Region
Corruption in both the public and private sectors is a
serious threat to social and economic development in the region. We recognize
that when criminal entities collude with corrupt public and private sector
officials, it results in a culture of impunity and financial exploitation of the
legitimate economy. We agreed to leverage our collective will to combat
corruption and related transnational illicit networks by promoting clean
government, supporting public-private partnerships, fostering market integrity,
and transparent financial systems. We recognize that the criminalization of
corruption can facilitate greater regional cooperation.
In support of our earlier APEC anti-corruption commitments,
we commend efforts undertaken by member economies to develop comprehensive
anti-corruption strategies. These include efforts to restore the public trust
and protect against the abuse of our financial system through financial
intelligence and law enforcement cooperation related to corrupt payments and
illicit financial flows. These anti-corruption activities through APEC are
consistent with the UN Convention Against Corruption (UNCAC), which we
encouraged economies to ratify and implement, where applicable. We also
supported the revised Financial Action Task Force (FATF) recommendations, where
appropriate.
We welcomed the Lima Anti-Corruption Declaration on Financial
Market Integrity through Effective Public-Private Partnerships and the APEC
Guidelines for Public-Private Action against Corruption.
Strengthening Cooperation and Capacity Building in APEC
APEC's program of Economic and Technical Cooperation (ECOTECH)
is essential to achieving our objective of building capacity in a range of
sectors in APEC economies. We reaffirmed our commitment to the Manila Framework,
which serves as the basis for the implementation of the ECOTECH activities
outlined in the Osaka Action Agenda. We welcomed contributions from economies to
APEC's capacity building programmes.
We welcomed China's proposal to host the 5th APEC
Human Resources Development Ministerial Meeting in 2010. Ensuring that all
members of our economies receive a quality education is critical to achieving
social, individual, economic and sustainable development. It enables people to
take advantage of the opportunities created by globalization. We supported the
efforts of APEC Education Ministers to strengthen education systems in the
region including ongoing support to the APEC Education Network. We welcomed the
research-based steps taken by APEC in the areas of mathematics and science;
language learning; career and technical education/technical vocational education
and training; and information and communication technologies (ICT) and systemic
reform. We support the recommendation of Education Ministers to facilitate
international exchanges, working towards reciprocal exchanges of talented
students, graduates and researchers.
We reaffirmed our commitment to build regional capacity to
minimize health-related threats including avian and human influenza pandemics
and communicable diseases such as HIV/AIDS. We welcomed continuing efforts to
ensure economies are well prepared to deal with health threats and to respond to
them in a way that minimizes their adverse impacts on human welfare, trade and
investment. We reaffirmed our commitment to improve food and product safety
standards and practices to facilitate trade and ensure the health and safety of
our populations. We endorsed the work of the APEC Food Safety Cooperation Forum's
Partnership Training Institute Network and called on Ministers to take
additional steps to enhance food and product safety next year.
We are concerned that gender discrimination continues to have
a significant impact on our economies. We committed to strengthening the
capacity of APEC members to ensure that gender considerations are taken into
account in the development of trade and economic policy, and to ensuring that
the region's women are better able to participate in and benefit from regional
and global trade.
ENHANCING HUMAN SECURITY IN THE REGION
Combating Terrorism and Securing Regional Trade
Enhancing human security and protecting the region's
business and trade against natural, accidental or deliberate disruptions remains
an enduring priority for APEC, and an essential enabling element in APEC's
core trade and investment agenda.
We agreed that international terrorism and the proliferation
of weapons of mass destruction and their means of delivery pose a direct threat
to our vision of free, open, peaceful and prosperous societies, and reaffirmed
our commitment to eliminate these threats. Since 2001, we have worked together
with a common understanding that all terrorist acts are criminal and
unjustifiable, and must be unequivocally condemned, especially when they target
or injure civilians, or use the abhorrent practices of suicide bombing and
hostage taking. Terrorism in all forms and manifestations, committed by
whomever, wherever and for whatever purposes, is a profound threat to the peace
and security of all people, and of all faiths. Terrorist acts cannot be excused
or justified by any alleged cause, conflict, oppression, or poverty.
We agreed that terrorist attempts to abuse or corrupt trade
flows, finance, transportation, travel communications and modern technologies
will not be tolerated. We pledged our full cooperation to ensure that the flow
of people, goods and investments remained secure and open, and that economies
and markets operated without disruption. We welcomed the initiative of a group
of member economies led by Singapore to undertake a Trade Recovery Programme
pilot exercise in 2009. We recognized the important role played by the
UN and its Global Counter-Terrorism Strategy. We stressed the
need for implementation, where applicable, of UN counter-terrorism measures and
the Financial Action Task Force's (FATF) Special Recommendations on Terrorist
Financing. We urged APEC Ministers and officials to continue to help secure the
region's economic, trade, investment and financial systems from terrorist
attack or abuse and trade-based money laundering. We welcomed the ongoing
efforts of the international community to combat piracy and armed robbery at sea
and encouraged further concerted efforts to fight against piracy.
Disaster Risk Reduction, Preparedness and Management
The frequency and intensity of natural disasters related to
the distortion of climate patterns in the region is increasing and the location
of, and growth of, cities and mega-cities in vulnerable areas increases the
impact of catastrophic events. Improving risk reduction, disaster preparedness
and management in the region is a critical human security issue facing the
region. We agreed that the challenges in this area are significant and growing
in complexity and required greater international cooperation and coordination
with the private sector, international organizations and non-government
organizations.
We recognized that there continues to be operational
challenges in regional disaster responses and greater coordination is needed as
the number of disaster management arrangements and players in the region
continues to grow. We agreed that greater focus is needed on disaster risk
reduction, emergency preparedness and building domestic disaster management
capabilities. In this regard, we welcomed the adoption of an APEC Strategy for
Disaster Risk Reduction and Emergency Preparedness and Response initiated by
Peru; the APEC Principles on Disaster Response and Cooperation proposed by
China; the Stocktake on Disaster Management Capacity Building Needs; and
welcomed the Australia-Indonesia proposal for a Disaster Risk Reduction Facility
and its linkages to APEC economies and the APEC Task Force on Emergency
Preparedness.
We endorsed the priority APEC has given to promoting risk
management, business resilience and public-private sector partnerships, and
supported efforts to prepare economies for the recovery phase. We instructed
officials to undertake long-term capacity building projects aimed at
accelerating recovery in disaster affected areas in APEC economies and supported
the inclusion of education on disaster issues in school curricula where
appropriate.
CLIMATE CHANGE, ENERGY SECURITY AND CLEAN DEVELOPMENT
Our ability to successfully confront the challenge of climate
change will be crucial to the wellbeing of future generations. As a global
issue, climate change must be addressed in a comprehensive manner, through
international cooperation under the UN Framework Convention on Climate Change (UNFCCC)
in 2009. Reducing poverty is likely to become more difficult in those developing
economies most vulnerable to the adverse effects of climate change and related
natural disasters. We reaffirmed our commitment to the Sydney APEC Leaders'
Declaration on Climate Change, Energy Security and Clean Development.
We support decisive and effective long term cooperation now,
up to and beyond 2012 to address climate change under the UNFCCC, in accordance
with the principle of common but differentiated responsibilities and respective
capabilities. We welcomed decisions taken by the international community at the
UN Climate Change Conference in Bali in 2007 and the efforts to build a
consensus on long term cooperative action, including a global emission reduction
goal. We also noted the declaration in this regard by the G8 Hokkaido Toyako
Summit held in July this year. We recognize the economic diversity and different
domestic circumstances of individual APEC economies in addressing climate
change.
We reaffirmed our commitment to the Action Agenda announced
as part of the Sydney Declaration. We appreciate and encourage the efforts of
individual APEC economies to meet these goals. We also welcomed the
establishment of the Asia-Pacific Network for sustainable Forest Management and
Rehabilitation (APFNet) and appreciate China's commitment to further financial
support for this initiative. We expressed support for the cooperation and
capacity building for climate change mitigation and adaptation, including those
that promote the development and deployment of clean technologies. We
appreciate Australia, Japan and the United States' financial support for the
Climate Investment Funds, particularly the Clean Technology Fund.
We recognized the value of conservation, sustainable forests
management and land use practices and enhancement of carbon stocks in forests
and agricultural soils for carbon sequestration in the global response to
climate change.
Recognizing that climate change could impede economies'
abilities to achieve sustainable economic growth and reduce poverty, we strongly
support international cooperation and capacity building for mitigation and
adaptation as objectives that should be equally pursued, including those that
promote low-emissions technology development and transfer to, and financial
support for, developing economies. We also call for additional and coordinated
efforts to better understand vulnerabilities caused by the impact of climate
change on our oceans and their resources to develop more effective adaptation
strategies. We endorsed the positive contribution of the Major Economies Leaders'
Declaration to the UNFCCC. We committed to concerted action under the UN and
complementary processes to reach an equitable and effective post-2012
international climate change arrangement at the UN Climate Change Conference in
Copenhagen in December 2009.
Conscious that access to adequate, reliable, clean and
affordable energy resources is vital to sustaining economic prosperity
in the region, we reaffirmed our commitment to supporting the energy needs
of regional economies by promoting open energy markets and free energy trade and
investment. Such markets are crucial to the development of renewable
sources of energy and the dissemination of low emission energy technologies,
including new and alternative energy resources and technologies. We
encouraged our officials to promote such developments and urge them to pursue
regional energy efficiencies and maximize the potential development of clean
energy technology.
Strengthening APEC
APEC is the pre-eminent forum for economic cooperation in the
region. We are committed to strengthening APEC's institutional processes to
ensure it remains responsive to a rapidly changing global environment.
Cooperative action within APEC can contribute to better outcomes on the major
international challenges we face. We welcomed advice from APEC Ministers on the
successful establishment of a Policy Support Unit in the APEC Secretariat as
well as progress on the appointment of an Executive Director of the APEC
Secretariat for a fixed term.
We endorsed in full the Joint Statement of Ministers at the
20th APEC Ministerial Meeting.
We welcomed the offer of Indonesia to host APEC in 2013. We
welcomed the invitation from the Prime Minister of Singapore to meet again in
Singapore in 2009.
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