2017 Leaders' Declaration
THE 25TH APEC ECONOMIC LEADERS’ MEETING
Da Nang, Viet Nam 11 November 2017
Da Nang Declaration
Creating New Dynamism, Fostering a Shared Future
- We, the Leaders of APEC, gathered in Da Nang, Viet Nam under the theme Creating New Dynamism, Fostering a Shared Future, determined to take bolder and sustained collective actions to inject new dynamism into APEC cooperation to promote sustainable, innovative and inclusive growth, deepen regional economic integration, realize the full potential of the business sector, particularly micro, small and medium-sized enterprises (MSMEs), and enhance food security and sustainable agriculture.
- A quarter-century after the first APEC Economic Leaders' Meeting, APEC has proven to be the premier economic forum in the Asia-Pacific, a driver of economic growth and integration, an incubator of ideas for future economic cooperation, a coordinating mechanism of trade agreements, and a global leader in addressing pressing problems. For nearly three decades, APEC has contributed to sustaining growth and advancing economic integration in the Asia- Pacific region, a process that has created millions of jobs and lifted hundreds of millions out of poverty.
- We meet at a time when the regional and global landscapes have experienced complex and fundamental shifts, coupled with the emergence of far-reaching challenges and opportunities. Regional and global economic recovery is on firmer footing, but medium and long-term risks remain. The Fourth Industrial Revolution and advancements in technology are altering the nature of work, transforming our societies and the ways we connect and interact. Trade and investment have brought unprecedented prosperity to the Asia-Pacific region, but serious challenges persist.
- We, therefore, recommit to our common purpose – to foster a shared future of a peaceful, stable, dynamic, inter-connected and prosperous Asia-Pacific community. We reaffirm our support for the 2030 Agenda for Sustainable Development, as a framework for inclusive growth.
- We reaffirm our long-standing commitment to APEC’s mission of supporting sustainable economic growth and prosperity in the Asia-Pacific region. Recognizing the significant challenges our economies face, we pledge to work together and take the following actions:
- We reaffirm our aspirations towards balanced, inclusive, sustainable, innovative, and secure growth in the APEC region through monetary, fiscal and structural policies, individually and collectively, and highlight the importance of achieving quality growth.
- We underscore that structural reform, including competition policy, ease of doing business, regulatory reform, strengthening economic and legal infrastructure, corporate and public sector governance, and promoting human capital development, is key to balanced, sustainable, innovative and inclusive growth, job creation, productivity and competitiveness. We reaffirm our commitment to foster integrity in the public and private sectors and fighting corruption and bribery, and denying safe havens for corrupt officials and stolen assets. We instruct economic and finance officials to work jointly on the 2018 APEC Economic Policy Report on Structural Reform and Infrastructure.
- We emphasize the importance of innovation, science and technology as key drivers for economic growth and international trade and investment in the APEC region. We recognize the vital importance of continuing to work for quality and equitable education to enable people of all ages to meet the challenges of rapid changes in today’s world. We commit to promoting science, technology, engineering and mathematics (STEM) education and the pursuit of STEM-based entrepreneurship.
- We resolve to enhance energy security to sustain economic growth in the APEC region. We encourage the facilitation of energy-related trade and investment, enhancement of access to affordable and reliable energy, and promotion of sustainable, efficient, and clean energy sources, which, in particular, would contribute to reducing global greenhouse gas emissions.
- We note the need for urbanization to be people-oriented, sound and sustainable and encourage knowledge sharing and policy exchange in this area.
Economic, Financial and Social Inclusion in a Globalized World
- Recognizing new opportunities and emerging challenges presented by globalization and digital transformation, we resolve to advance economic, financial and social inclusion, with a vision to build an inclusive, accessible, sustainable, healthy and resilient APEC community by 2030, consistent with the 2030 Agenda for Sustainable Development. We endorse the APEC Action Agenda on Advancing Economic, Financial and Social Inclusion (Annex A) to guide our efforts moving forward. We commit to advance progress towards achieving full, productive and quality employment and equal pay for equal work; ensure access to banking, insurance and financial services, and increase financial literacy and capability of all to access finance; and progressively achieve and sustain income growth for all members of society, especially women, and youth, persons with disabilities and other vulnerable groups, and enable them to seize global opportunities. We encourage APEC economies to invest in their health systems to increase productivity and economic growth.
- Acknowledging that greater economic participation by women spurs economic growth, we encourage economies and the private sector to implement initiatives that enhance women’s economic empowerment, improve women’s access to capital, assets and markets, increase women’s participation in high-growth and high-wage sectors, and promote women’s leadership, entrepreneurship, skills and competencies.
Quality Human Resources Development in the Digital Age
- We place importance on the need to prepare our people and all workers, especially vulnerable groups, for the changing world of work. We endorse the APEC Framework on Human Resources Development in the Digital Age (Annex B). We are committed to strengthening human resources development, including through education and life-long learning, technical and vocational education and training (TVET), and up- and re-skilling to increase workers’ employability, mobility and preparedness for the digital age; and ensure that active labor market policies can better match the needs of the labor market with various aspects of skills training and development.
- We commit to attaining the Bogor Goals of free and open trade and investment in the Asia- Pacific region. We agree to accelerate efforts to address WTO-inconsistent barriers to trade and investment and take concrete actions towards the achievement of the Bogor Goals by 2020. We also note the importance of non-discriminatory, reciprocal and mutually advantageous trade and investment frameworks. We will work together to make trade more inclusive, support improved market access opportunities, and address unfair trade practices. We urgently call for the removal of market-distorting subsidies and other types of support by governments and related entities.
- We are committed to carrying out further actions to promote an enabling and conducive environment for investment in the Asia-Pacific region.
- We will work together to realize the potential of the internet and digital economy, including through appropriate regulatory and policy frameworks, and taking into account fair competition to encourage investment and innovation. We welcome the adoption of the APEC Internet and Digital Economy Roadmap and the APEC Framework on Cross-border E- commerce Facilitation. We will consider actions to facilitate the development of the internet and digital economy, including e-commerce and digital trade.
- We are committed to further actions to increase APEC's competitiveness in the services sector by 2025 and intensifying our efforts to address barriers that inhibit our businesses from competing or trading in services markets.
Free Trade Area of the Asia-Pacific (FTAAP)
- We reaffirm our commitment to advance in a comprehensive and systematic manner the process toward the eventual realization of an FTAAP to further APEC’s regional economic integration agenda. We commend the efforts of economies to advance work related to the eventual realization of an FTAAP, including capacity building initiatives and information sharing mechanism. We encourage economies to make further progress and to develop work programs to enhance APEC economies’ ability to participate in high quality, comprehensive free trade agreement negotiations in the future.
Multilateral Trading System
- We welcome the entry into force of the World Trade Organization (WTO) Trade Facilitation Agreement (TFA) and call for its full implementation, recognizing that it helps bring about meaningful and widespread benefits for all economies and businesses. We commit to work with other members of the WTO towards a successful 11thWTO Ministerial Conference.
- We underline APEC’s crucial role in support of a rules-based, free, open, fair, transparent, and inclusive multilateral trading system. We commit to work together to improve the functioning of the WTO, including its negotiating, monitoring, and dispute settlement functions, to adequately address challenges facing the system, bringing benefits to all of our people and businesses. We will work to ensure the effective and timely enforcement of the WTO rules.
- We note the importance of bilateral, regional and plurilateral agreements, and commit to working to ensure they complement the multilateral trade agreements.
- We will strive for a climate conducive to investment and job creation. We will work to ensure a level playing field through continuing APEC’s leadership in pursuing open markets. We recall our pledge to extend our standstill commitment until the end of 2020 and recommit to fight protectionism, including all unfair trade practices, recognizing the role of legitimate trade defence instruments.
Fostering Regional and Sub-regional Comprehensive and Inclusive Connectivity
- We reaffirm our commitment to build a seamless and comprehensively connected and integrated Asia-Pacific by 2025. In this regard, we welcome economies’ efforts in promoting cooperation to advance policy collaboration, trade facilitation, connectivity, financing, and people-to-people exchanges. We reiterate the importance of quality infrastructure for sustainable economic growth and pledge to promote infrastructure in terms of both quantity and quality through adequate investment and strengthened public-private partnership. We encourage further collaboration and synergy among various connectivity initiatives and work on advancing economic development and integration of sub-regional, rural and remote areas in the region, including efforts to develop safe, secure, resilient, efficient, affordable and sustainable transportation systems.
- We underline the need to develop policies that take full advantage of global value chains. We encourage further actions to enable better participation, greater value added and upward mobility of developing economies and MSMEs in GVCs. We appreciate initiatives such as Asia-Pacific Model E-port Network and APEC Green Supply Chain Network and their positive contribution to supply chain connectivity.
- We commit to promote sustainable tourism, and explore its potential for development in remote areas as an important part of APEC economic growth strategies and enhanced people-to-people connectivity. We are determined to reach the target of 800 million APEC tourist arrivals by 2025.
- We express concern over the growing threat of terrorism in the APEC region, which stems from ISIL, Al-Qaida and other terrorist organizations, and is exacerbated by the cross-border travel of foreign terrorist fighters and emerging sources and channels of terrorist financing. APEC economies commit to continually and effectively respond to the terrorist challenges in the region and their economic impact, as guided by APEC’s strategy to secure supply chains, travel, finance, and infrastructure.
- As the Asia-Pacific is highly exposed to natural disasters, we commit to strengthen cooperation, including with the private sector, to enhance resilience to disasters through effective mitigation, preparedness, disaster risk reduction, response and recovery efforts. This includes advancement in policy, innovation, science and technology, business continuity planning, early warning systems, and search and rescue. We underline the importance of financial instruments and policies against disaster risks.
- We commit to strengthen the ability of MSMEs to compete in international markets and participate in global value chains through the following actions:
I. Promoting Innovative Growth, Inclusion and Sustainable Employment
Quality Growth, Structural Reform and Innovation
II. Creating New Drivers for Regional Economic Integration
Advancing Free and Open Trade and Investment
III. Strengthening the Capacity and Innovation of MSMEs
- Increase MSME’s innovation capacities, including by facilitating their access to finance, technology and capacity building, especially for women and youth-led businesses;
- Improve access to the internet and digital infrastructure;
- Enhance MSMEs digital capabilities, competitiveness and resilience;
- Create an enabling environment for MSMEs, including by promoting business ethics; and
- Support start-ups through establishing an innovative start-up ecosystem with conducive regulatory frameworks that promote a business-friendly environment, ensuring access to resources, and building start-up networks and partnership.
IV. Enhancing Food Security and Sustainable Agriculture in Response to Climate Change
V. Fostering a Shared Future
We look forward to meeting again in Papua New Guinea in 2018.
Annex A: APEC Action Agenda on Advancing Economic, Financial and Social Inclusion
Annex B: APEC Framework on Human Resources Development in the Digital Age