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APEC Leaders Pledge to Promote Sustainable and Inclusive Growth

apec8 October 2013: Ministers from Asia-Pacific Economic Cooperation (APEC) member economies pledged strong commitment to sustainable and inclusive growth at the close of the 25th APEC Ministerial Meeting in Bali, Indonesia, on 8 October 2013.

In a Leaders' Declaration, Ministers reaffirmed their commitment to the 1994 Bogor Goals, which call for region-wide free trade and investment by 2020. They agreed to: reduce tariffs on the APEC List of Environmental Goods; establish an APEC Public Private Partnership on Environmental Goods and Services to address relevant issues; and explore trade in products that contribute to rural development and poverty alleviation.

On Sustainable Growth with Equity, the Declaration notes the challenges of resource scarcity. Signatories agree to implement an APEC Food Security Road Map Towards 2020, including supply chain improvements and reduction of post-harvest losses and waste.

The Ministers announce an APEC Initiative on Mainstreaming Ocean-related Issues that will undertake cross-sectoral work to maintain the health and sustainability of oceans and coastal resources, including poverty eradication, preservation of traditional culture and knowledge, biodiversity conservation, and facilitation of trade and investment.

They pledge to assist APEC economies to rationalize and phase out inefficient fossil-fuel subsidies, and welcome the development of a methodology for a voluntary peer review mechanism addressing this issue. On efforts toward energy security and efficiency, and reducing greenhouse gas (GHG) emissions, they note the Joint Crediting Mechanism as a useful cross-border mechanism.

Ministers also agree to stronger action on wildlife trafficking, through Wildlife Enforcement Networks and other existing mechanisms, and by increasing public awareness of these crimes. Looking forward, they call for continued cooperation and synergy with other multilateral fora and regional and global institutional architecture.

In summary, they commit to creating a regional economy that is resilient, inclusive, connected, equitable, secure and sustainable, going by the acronym 'RICES.' [Leaders' Declaration] [Opening Press Release] [CITES Press Release]