APEC Ministers lay foundation for inclusive, balanced, sustainable economic growth

In a statement issued today, Ministers described a post-crisis environment in which "recovery remains fragile; the growth profile over the next few quarters is likely to be uneven. Unemployment remains unacceptably high in many of our economies."

In response, they determined to ""lay a foundation for growth that is inclusive, balanced and sustainable, supported by innovation and a knowledge-based economy, and anchored on APEC's core agenda to promote free and open trade and investment."

On inclusive growth

"First, we will facilitate structural adjustments that enhance opportunities for all to benefit from growth, focusing on facilitating SME development and enhancing the functioning of labour markets, while ensuring that these support enhanced opportunities for women and entrepreneurs. Second, we will strengthen social resilience, focusing on enhancing inpidual economic security and designing incentive-compatible social safety net programmes."

On promoting sustainable growth

"Anthropogenic climate change is one of the biggest challenges facing the world. As APEC's key response to addressing this challenge, our sustainable growth agenda will include improved access for Environmental Goods and Services (EGS), development of EGS sectors of APEC economies, enhancing energy efficiency and sustainable forest management and rehabilitation."

On resisting protectionism

"We remain concerned over the threat of protectionism to our economic recovery."

"We will continue to exercise maximum restraint in implementing measures that may be considered to be WTO consistent if they have a significant protectionist effect and promptly rectify such measures where implemented.

On open markets

"...evidence of an increasing use of trade remedies indicates that risks relating to protectionism and recovery remain."

"...the APEC region as a whole has remained relatively open to trade throughout the global crisis."

On World Trade Organisation Doha round negotiations

"We urge greater substantive engagement at all levels utilising all possible avenues, including text-based negotiations under the Geneva Chair-led process and direct engagement between Members to evaluate and close the remaining gaps... We direct our officials to exercise maximum flexibility in building a clear idea of the final package so Ministers can assess the situation no later than early 2010.

"We endorse the recommendations by the APEC Secretariat on specific areas for cooperation with the WTO, including greater collaboration in the Aid for Trade Agenda.

"We reiterate our support for the early accession of the Russian Federation to the WTO and underline the importance of efforts to expedite these negotiations."

To view the Joint Statement of the 21st APEC Ministerial Meeting, go to:
http://www.apec.org/Meeting-Papers/Ministerial-Statements/Annual/2009/2009_amm.aspx