APEC Summit Fully Adopts Bali G20 Leaders' Declaration, Says Minister

Translator

Antara

21 November 2022 06:03 WIB

TEMPO.CO, Jakarta - Indonesian Coordinating Minister for  Economic Affairs  Airlangga Hartarto has said the Asia-Pacific Economic Cooperation (APEC) Summit fully adopted the Bali G20 Leaders' Declaration.

"The Leaders' Declaration at the APEC forum fully adopted the Bali G20 Leaders' Declaration formula, word by word," Hartarto said in a statement on Sunday.

He noted that the discussion to reach an agreement for the Leaders' Declaration at the APEC forum was tough, and in the end, all parties agreed to refer to the Bali G20 Leaders' Declaration.

This is supported by the back-to-back implementation of these two important world forums, and the declaration that was initiated in Bali which has received approval from 20 member states of G20. Hence, the version was fully adopted at the APEC Forum, Hartarto added.

In the APEC Leaders' Declaration, APEC economic leaders  agree on a joint commitment to respond to common challenges, among others, to support the reform of the multilateral trading system in order to face various developmental challenges that have arisen, and to strengthen commitment  to address supply chain disruption.

They also agreed to promote strong, balanced, sustainable, and inclusive growth, including supporting micro, small, and medium enterprises (MSMEs) and startups, the minister remarked.

"This APEC forum also encouraged multilateralism and supports the results of The WTO's 12th Ministerial Conference (MC12) to encourage WTO as a platform in the Asia Pacific to equalize trade law rules, because APEC is 60 percent of the world economy or the equivalent of US$59 trillion," he said.

Furthermore, APEC economic leaders  also encouraged cooperation to connect the digital gap through infrastructure facilitation, as well as increasing expertise and digital literacy and strengthening the agricultural sector to support regional food security.

In the digital field, APEC supported empowerment starting from empowering women and youth, to promoting equality and inclusiveness of MSMEs.

Indonesia also supported the digitization of MSMEs to become part of the global supply chain, Hartarto disclosed.

He stated that this year's APEC forum was also pushing for sustainable goods and services, which will be brought under the leadership of the United States next year.

Meanwhile, the 2022 APEC Summit also succeeded in agreeing on The Bangkok Goals for the Bio-Circular Green Economy, which is a joint approach to post-pandemic economic recovery that is inclusive and balanced in order to achieve more resilient economic growth and protect the environment.

“Almost all the discussions at APEC have a common thread with those discussed at the G20. One of the strongest common links among ASEAN, G20, and APEC is togetherness. Together, we will be strong and successful in recovering the global economy," he concluded.

ANTARA

Click here to get the latest news updates from Tempo on Google News



APEC Leaders Issue 2022 Declaration and the Bangkok Goals

20 November 2022

APEC Leaders Issue 2022 Declaration and the Bangkok Goals

Leaders of 21 APEC member economies issued 2022 Leaders' Declaration following 29th APEC Economic Leaders' Meeting and Bangkok Goals.


APEC Pledges to Boost Trade as Geopolitical Rifts Hijack Regional Summits

19 November 2022

APEC Pledges to Boost Trade as Geopolitical Rifts Hijack Regional Summits

Leaders of the 21-member APEC bloc pledge on Saturday to boost trade and do more to tackle other economic challenges.


Jokowi Hopes G20 Cooperation Spirit Continues at the APEC Summit

19 November 2022

Jokowi Hopes G20 Cooperation Spirit Continues at the APEC Summit

Indonesian President Jokowi hoped that the spirit of cooperation in the Indonesian G20 Presidency can continue at the 2022 APEC Summit in Bangkok.


Jokowi Mentions Recession and Green Economy at 2022 APEC Summit

18 November 2022

Jokowi Mentions Recession and Green Economy at 2022 APEC Summit

President Jokowi Widodo reminded the challenges of the global crisis to the threat of a recession, which is expected to occur soon.


Jokowi, Prime Minister Jacinda Hold Bilateral Meeting during APEC Summit

18 November 2022

Jokowi, Prime Minister Jacinda Hold Bilateral Meeting during APEC Summit

President Jokowi met with New Zealand Prime Minister Jacinda Ardern on the sideline of the 29th APEC Summit.


APEC Summit; Jokowi Calls for Stronger Regional Cooperation

18 November 2022

APEC Summit; Jokowi Calls for Stronger Regional Cooperation

President Jokowi, at the APEC summit held in Bangkok, called for world leaders to strengthen cooperation amidst a series of global crises.


Jokowi Kick-starts APEC Summit with Bilateral Meetings

18 November 2022

Jokowi Kick-starts APEC Summit with Bilateral Meetings

President Joko "Jokowi" Widodo started the 29th APEC Summit in Bangkok, Thailand, by meeting a number of other state leaders.


Jokowi Departs for Thailand to Attend APEC

17 November 2022

Jokowi Departs for Thailand to Attend APEC

Indonesia's President Joko Widodo or Jokowi left Bali today as G20 Summit ended for Thailand to take part in the 29th APEC Summit.


Bali's G20 Leaders' Declaration Proof of World's Trust in Indonesia: Minister

17 November 2022

Bali's G20 Leaders' Declaration Proof of World's Trust in Indonesia: Minister

Minister of Foreign Affairs Retno Marsudi says the approval of Bali Leaders' Declaration by G20 leaders has demonstrated world's trust in Indonesia.


G20 Agrees on 5 Important Points in Leaders' Declaration at Bali G20 Summit

16 November 2022

G20 Agrees on 5 Important Points in Leaders' Declaration at Bali G20 Summit

The leaders of the G20 members on Wednesday, November 16, 2022, declare the G20 Bali Leaders' Declaration at the Summit.