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2022 Leaders’ Declaration
November 19, 2022
Bangkok, Thailand
- We, the Economic Leaders of APEC, met in-person for the first time in four years in Bangkok on 18-19 November 2022. We continue the implementation of the APEC Putrajaya Vision 2040, including through the Aotearoa Plan of Action. This year, under the APEC theme “Open. Connect. Balance.”, we advance work through three priorities: to be open to all opportunities, connected in all dimensions, and balanced in all aspects, to advance long-term robust, innovative and inclusive economic growth as well as sustainability objectives in the Asia-Pacific region.
- We have been intensifying our efforts in responding to the COVID-19 pandemic and mitigating its impact on our people and economies to promote health and wellbeing, as well as improving the overall standard of living for all.
- This year, we have also witnessed the war in Ukraine further adversely impact the global economy. There was a discussion on the issue. We reiterated our positions as expressed in other fora, including the UN Security Council and the UN General Assembly, which, in Resolution No. ES-11/1 dated 2 March 2022, as adopted by majority vote (141 votes for, 5 against, 35 abstentions, 12 absent) deplores in the strongest terms the aggression by the Russian Federation against Ukraine and demands its complete and unconditional withdrawal from the territory of Ukraine. Most members strongly condemned the war in Ukraine and stressed it is causing immense human suffering and exacerbating existing fragilities in the global economy – constraining growth, increasing inflation, disrupting supply chains, heightening energy and food insecurity, and elevating financial stability risks. There were other views and different assessments of the situation and sanctions. Recognising that APEC is not the forum to resolve security issues, we acknowledge that security issues can have significant consequences for the global economy.
- We reaffirm our commitment to realise the APEC Putrajaya Vision of an open, dynamic, resilient and peaceful Asia-Pacific community by 2040, for the prosperity of all our people and future generations. We will continue to promote efforts to strengthen APEC’s leadership and standing as the premier economic forum of the Asia-Pacific, as well as a modern, efficient and effective incubator of ideas. APEC’s cooperation will contribute to practical solutions for common challenges and complement global efforts including the UN 2030 Agenda for Sustainable Development. To that end, we resolve to build momentum of the work carried out in 2022 and coordinate our APEC-wide actions on sustainability through the Bangkok Goals on Bio-Circular-Green (BCG) Economy.
- Trade and investment play a critical and indispensable role in enhancing the prosperity of our people by assisting with global challenges and can open up opportunities that offer tangible benefits. We underscore the importance of international trade and the World Trade Organization (WTO) in facilitating global economic recovery, growth, prosperity, alleviation of poverty, the welfare of all people, sustainable development, and facilitating cooperation in relation to the protection and conservation of the environment. We reaffirm our determination to deliver a free, open, fair, non-discriminatory, transparent, inclusive and predictable trade and investment environment. We will continue to work to ensure a level playing field to foster a favourable trade and investment environment and reaffirm our commitment to keep markets open and to address supply chain disruptions.
