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9 December 2020  
(20-8860) Page: 1/7 
General Council  Original: English  
 
THE OUTCOME S OF APEC ECONOMIC LEADERS ' WEEK 2020  
The following communication, dated 4 December 2020, is being circulated at the request of the 
delegation of Malaysia.  
 
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APEC PUTRAJAYA VISION 2040  
20 NOVEMBER 2020  
KUALA LUMPUR  
Our Vision is an open, dynamic, resilient and peaceful Asia -Pacific community by 2040, 
for the prosperity of all our people and future generations.  
Remaining committed to APEC 's mission and its voluntary, non -binding and consensus -building 
principle s, we will achieve this Vision by pursuing the following three economic drivers:  
 
Trade and Investment : To ensure that the Asia -Pacific remains the world 's most dynamic and 
interconnected regional economy, we acknowledge the importance of, and will contin ue to work 
together to deliver, a free, open, fair, non -discriminatory, transparent and predictable trade and 
investment environment. We reaffirm our support for agreed upon rules of the WTO in delivering a 
well-functioning multilateral trading system and promoting the stability and predictability of 
international trade flows. We will further advance the Bogor Goals and economic integration in the 
region in a manner that is market -driven, including through the work on the Free Trade Area of the 
Asia-Pacific  (FTAAP) agenda which contributes to high standard and comprehensive regional 
undertakings. We will promote seamless connectivity, resilient supply chains and responsible 
business conduct.  
 
Innovation and Digitali zation: To empower all our people and businesses  to participate and grow in 
an interconnected global economy, we will foster an enabling environment that is, among others, 
market -driven and supported by digital economy and innovation. We will pursue structural reforms 
and sound economic polici es to promote innovation as well as improve productivity and dynamism . 
We will strengthen digital infrastructure, accelerate digital transformation, narrow the digital divide, 
as well as cooperate on facilitating the flow of data and strengthening consumer  and business trust 
in digital transactions.  
 
Strong, Balanced, Secure, Sustainable and Inclusive Growth : To ensure that the Asia -Pacific region 
is resilient to shocks, crises, pandemics and other emergencies, we will foster quality growth that 
brings palp able benefits and greater health and wellbeing to all, including MSMEs, women and others 
with untapped economic potential. We will intensify inclusive human resource development as well 
as economic and technical cooperation to better equip our people with the skills and knowledge for 
the future. We will promote economic policies, cooperation and growth which support global efforts 
to comprehensively address all environmental challenges, including climate change, extreme 
weather and natural disasters, for a sustainable planet.  
 
To maintain APEC 's unique position as the premier forum for regional economic cooperation as well 
as a modern, efficient and effective incubator of ideas, we will embrace continuous improvement of 
APEC as an institution through good g overnance and stakeholder engagements. We will advance the 
APEC Putrajaya Vision 2040 with a spirit of equal partnership, shared responsibility, mutual respect, 
common interest, and common benefit. We will achieve the Vision by 2040, with an appropriate 
implementation plan and review of its progress.  
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THE 27TH APEC ECONOMIC LEADERS ' MEETING  
20 NOVEMBER 2020  
KUALA LUMPUR  
2020 KUALA LUMPUR DECLARATION  
We, the Economic Leaders of APEC, stand united in our determination to enable the Asia -Pacific 
region to successfully recover from the COVID -19 pandemic and its economic impacts.  We are 
committed to protecting our people 's lives and safeguarding their health. We resolve to further 
navigate the region towards recovery along the path of strong, balanced, inclusive, sustainable, 
innovative and secure economic growth.  Our coordinated action and cooperation are more important 
than ever to overcome the challenges of COVID -19 and reali ze new and emerging opportunities for 
prosperity for all.   
 
COVID -19 is one of the most challenging health and economic crises of our times.  We express our 
deepest condolences to those who have suffered and lost loved ones.  We are saddened by the 
devastation to jobs and livelihoods as a result of widespread econom ic disruption and we are grateful 
to those serving on the frontline.  
 
We are meeting virtually for the first time in our history under the APEC 2020 theme of Optimi zing 
Human Potential towards a Resilient Future of Shared Prosperity. Pivot. Prioriti ze. Progress.  We have 
aligned our efforts along the priorities of: Improving the Narrative of Trade and Investment ; 
Inclusive Economic Participation through Digital Economy and Technology ; and Driving Innovative 
Sustainability .  
 
Combatting and Mitigating the Im pacts of COVID -19 
We will continue to work together to use all available policy tools to support an inclusive, effective 
and sustained response to COVID -19, minimi zing its impact on people 's livelihoods.  We recogni ze 
the need to enhance stimulus measures t hat facilitate economic recovery and job creation.  In 
facilitating economic recovery, we underscore the importance of improving fiscal sustainability and 
transparency to support long -term resilient economic growth and future financing needs.  We 
acknowledge  the need to support developing economies in combatting COVID -19. We also welcome 
the recent establishment of a digital platform for coordinated information sharing on policy responses 
related to COVID -19. We commend the varied and continued efforts as wel l as the contribution of 
additional resources across APEC to combat the pandemic and support workers and sectors through 
the economic recovery process.  
 
We will cooperate to facilitate the movement of essential goods and services, as well as the essential 
movement of people in a safe manner, identifying and resolving unnecessary barriers to trade and 
strengthening the resilience of our supply chains. We recogni ze the importance of working together 
to ensure trade and investment can continue to flow in these  trying times.  We are encouraged by 
the implementation of measures that facilitate trade and urge Economies to ensure emergency trade 
measures designed to tackle COVID -19 are consistent with World Trade Organi zation (WTO) rules.  
 
We recogni ze that science , technology and innovation are important to the region 's post -COVID -19 
recovery.  We reaffirm the need to cooperate constructively on COVID -19 including the research and 
development, production, manufacturing and distribution of diagnostic tests, essential  medical 
products and services, therapeutics and vaccines. We highlight the importance of facilitating 
equitable access to safe, quality, effective and affordable vaccines and other medical 
countermeasures that are vital to safeguard people 's health and we ll-being, while incentivi zing 
innovation. We acknowledge that the role of extensive immuni zation against COVID -19 is critical in 
order to bring the pandemic to an end.  
 
We recogni ze the importance of the development and contribution of digital technologies  in 
safeguarding people 's health and protecting the region from health threats, and enhancing resilience, 
scalability and sustainability of health systems, thereby moving towards universal health coverage.  
 
APEC Putrajaya Vision 2040  
We proclaim the APEC Putrajaya Vision 2040, a new vision that primarily charts the future of our 
region.  Our Vision is an open, dynamic, resilient and peaceful Asia -Pacific community by 2040, for WT/GC/225  
 
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  the prosperity of all our people  and future generations.  We task our Senior Officials to complete a 
comprehensive implementation plan for our consideration in 2021.  
 
Improving the Narrative of Trade and Investment  
We welcome the significant progress made under the Bogor Goals, including the final review of 
APEC's Progress towards the Bogor Goals, in facilitating trade and investment, and recognise more 
needs to be done in fostering an enabling environment for trade and investment in the Asia -Pacific 
region.  
 
We recogni ze the importance of a free, open, fair, non -discriminatory, transparent and predictable 
trade and investment environment to drive economic recovery at such a challenging time. In this 
regard, we reaffirm our support for agreed -upon rules of the WTO in promoting the stability and 
predictability of international trade flows. We take note of the call of the APEC Business Advisory 
Council (ABAC) for APEC to continue supporting the multilateral trading system.  
 
We will continue to support the on -going work at the WTO,  including through its necessary reform 
aimed to improve its functioning, and will continue to work on appropriate capacity building 
initiatives to implement WTO agreements. We call for expedited progress in the on -going WTO 
negotiations on fisheries subsi dies. APEC member participants in Joint Statement Initiatives (JSI) 
call for progress in the lead -up to the 12th WTO Ministerial Conference (MC12), recogni zing the e -
commerce initiative is particularly important in supporting COVID -19 recovery.  
 
We will fu rther advance the economic integration in the region, in a manner that is market -driven, 
including through the work on the Free Trade Area of the Asia -Pacific (FTAAP) agenda, which will 
contribute to high quality and comprehensive regional undertakings. We  underscore the importance 
of improving regional connectivity through quality infrastructure development and investment based 
upon relevant APEC work.  
 
Inclusive Economic Participation through Digital Economy and Technology  
Innovation and digitali zation e nable governments, businesses and people to carry out their activities 
and empower inclusive economic participation by all.  We will foster an enabling environment for the 
development of the digital economy, including to open new opportunities for Micro, Sm all and 
Medium Enterprises (MSMEs). We aim to promote innovative technologies and foster a reliable, 
interoperable, open, accessible and secure ICT environment, narrow the existing digital, skills and 
regulatory gaps, and encourage development in digital i nfrastructure and transformation. We 
acknowledge the importance of cooperation in facilitating the flow of data and strengthening 
consumer and business trust in digital transactions.  
 
We recogni ze the disproportionate impacts of COVID -19 on MSMEs, women a nd others with 
untapped economic potential.  We intend to pursue inclusive economic policies that support their 
recovery and growth through effective and equal participation in economic activities and 
opportunities to contribute to economic recovery efforts . We support and welcome the 
implementation of the La Serena Roadmap for Women and Inclusive Growth.  
 
COVID -19 has transformed the way we work and accelerated the transitions to the future of work 
setting.  We recogni ze the need for continued structural ref orms to improve the ways of doing 
business and unleash economic prosperity for our people, including accelerating cooperation on 
digital literacy and skills development to harness technological transformation,  and encouraging the 
use of digital technology to resolve cross -border business -to-business disputes.  We aim to advance 
efforts to promote human resource development, and strengthen economic and technical 
cooperation, to ensure all affected economic sectors and workers are afforded appropriate support 
in expediting their economic recovery.  We are encouraged by the broader on -going efforts on 
economic, financial and social inclusion that contribute to narrowing the gap in economic 
development, and advance the well -being for all, in support of global effo rts, including the 2030 
Agenda for Sustainable Development.  
 
Driving Innovative and Inclusive Sustainability  
We will foster comprehensive quality growth and advance work to this effect, including on the APEC 's 
human security agenda, in order to recover fro m COVID -19.  
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  We reaffirm our support for economic and technical cooperation, as well as structural reforms, that 
drive innovation, productivity and sustainable growth.  We encourage inclusive recovery from COVID -
19 that increases employment and economic ac tivity.  Recogni zing the impact of COVID -19 on global 
food supply chains, we will work to ensure food security through sufficient, safe, and nutritious food 
that continues to be available and accessible to people across the region, while reducing food loss 
and waste.   
 
We will collaborate to facilitate access to affordable energy, enhance energy resilience and energy 
security using the widest variety of fuels and technologies to support sustainable economic growth 
and promote transitions to cleaner energy  as part of a strong and inclusive economic recovery.  
 
We are hopeful that new technologies are available and accessible to allow us to handle resources 
and waste more sustainably, and in a holistic manner.  We will promote economic policies and growth 
that su pport global efforts to tackle climate change, extreme weather and natural disasters, and 
strengthen emergency preparedness.  
 
Strengthening Stakeholder Engagement  
We note the recommendations from ABAC and welcome partnership with the private sector to 
support efforts towards economic recovery.  We also welcome the contributions of the Pacific 
Economic Cooperation Council, and the value that the ASEAN Secretariat, Pacific Islands Forum, 
stakeholders, and other international and regional organi zations bring to APEC.  
 
We welcome the outcomes of the APEC Ministerial Meeting as well as Sectoral Ministerial Meetings 
for Trade, Health, Finance, Women and the Economy, Small and Medium Enterprises, and Food 
Security.  
 
We thank Malaysia for its able lea dership in this particularly challenging year.  We look forward to 
New Zealand 's chairing in 2021.  
 
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THE 31ST APEC MINISTERIAL MEETING  
16 NOVEMBER 2020  
KUALA LUMPUR  
JOINT MINISTERIAL STATEMENT   
We, the APEC Ministers, met on 16 November 2 020, under the Chairmanship of The Honourable 
Dato' Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry, 
Malaysia.  This marks the first time that the APEC Ministerial Meeting (AMM) has convened virtually.  
We assessed th e forum 's achievements in 2020, provided guidance on future work, and discussed 
preparations for the 2020 APEC Economic Leaders ' Meeting. 
 
We welcome the participation of the World Trade Organi zation (WTO), APEC Business Advisory 
Council (ABAC), Association of Southeast Asian Nations (ASEAN), Pacific Economic Cooperation 
Council (PECC), Pacific Islands Forum (PIF) and APEC Secretariat.  
 
We express our deepest condolences over the tragic loss of lives and to those who are suffering due 
to the COVID -19 pandemic. We recogni ze the unprecedented economic, health and social challenges 
brought about by the pandemic, including the disproportionate impact on MSMEs, women and others 
with untapped economic potential. Together in solidarity, we reiterate our concern about the impact 
of COVID -19 on vulnerable developing economies.  We will continue to cooperate, and act swiftly to 
foster quality growth, safeguard the lives and livelihoods of our people to enhan ce the resilience of 
our economies and support strong and inclusive economic recovery.  
 
We recogni ze that the COVID -19 pandemic has gravely impacted the Asia -Pacific region and the 
entire global economy. We are committed to working together to facilitate t he movement of essential 
goods and services across borders and, without undermining efforts to prevent the spread of the 
virus, explore ways to facilitate the essential movement of people across borders. We will intensify 
information -sharing and skills dev elopment, as well as enhance APEC 's human security agenda in 
order to recover from COVID -19 and promote resilient and secure growth. We commend the prompt 
establishment of a digital platform for information sharing on COVID -19 responses and all efforts 
aimed at combating COVID -19. We welcome the varied and continued efforts as well as the 
contribution of additional resources across APEC to combat the pandemic and support workers and 
sectors through the economic recovery process.  
 
We advanced this year 's work under the APEC 2020 theme Optimi zing Human Potential towards a 
Resilient Future of Shared Prosperity: Pivot. Prioriti ze. Progress  and the three priorities: Improving 
the Narrative of Trade and Investment ; Inclusive Economic Participation through Dig ital Economy 
and Technology ; and Driving Innovative Sustainability . 
 
In line with these priority areas, we will continue to address issues that contribute towards the well -
being of our people. To this end, we commend the discussions on indicators complemen tary to Gross 
Domestic Product (GDP), as well as on inclusive and responsible business and investment.  
 
We welcome the completion of work on a new vision for APEC that is built on the Bogor Goals. We 
welcome the Final Review of APEC 's Progress Towards the Bogor Goals, which highlights the progress 
we have made, and identifies what more needs to be done.  
 
Trade and Investment  
We recogni ze the importance of a free, open, fair, non -discriminatory, transparent and predictable 
trade and investment environment t o drive economic recovery at such a challenging time. We 
reaffirm the APEC Ministers Responsible for Trade (MRT) Statement on COVID -19, the Virtual MRT 
Statement and the Declaration on Facilitating the Movement of Essential Goods. We reiterate that 
any eme rgency trade measures designed to address COVID -19 should be targeted, proportionate, 
transparent, temporary, do not create unnecessary barriers to trade, and are consistent with WTO 
rules.  
 
We affirm the importance of agreed -upon rules in the WTO, which enhance market predictability, 
enable business ' confidence and allow trade to flow. We will continue to engage constructively on 
WTO issues, including by supporting the necessary reform to improve its functioning. We call for on -
going WTO negotiations to b e expedited, and  APEC participants in Joint Statement Initiatives call for WT/GC/225  
 
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  progress,  in the lead up to the 12th WTO Ministerial Conference (MC12). We take note of ABAC 's call 
for APEC to continue supporting the multilateral trading system.  
 
We will furthe r advance the economic integration in the region, in a manner that is market -driven, 
including through the work on the Free Trade Area of the Asia -Pacific (FTAAP) agenda which will 
contribute to high quality and comprehensive regional undertakings.  
 
Digit al Economy and Technology  
The COVID -19 pandemic has underscored the role of digital economy, transformation and technology 
in sustaining economic growth. We recogni ze the need to support innovation to safeguard the region 
from health threats and strengthen  the resilience of health systems and quality of healthcare, 
including through the utili zation of digital technologies. There is an urgent need to enhance access 
to opportunities stemming from digital economy and develop innovative digital ecosystems to 
harness new and emerging digital technologies. We encourage application of new technologies to 
drive innovation and endeavour to expedite work towards improving digital inclusion, increasing 
competency in digital skills and narrowing the digital divide as th ese are core drivers for inclusive 
economic participation. We instruct Senior Officials to accelerate the implementation of the APEC 
Internet and Digital Economy Roadmap (AIDER) and welcome the APEC Roadmap on Digital Financial 
Inclusion.  
 
A reliable, int eroperable, open, accessible and secure ICT environment leads to a more 
interconnected and inclusive region. We urge members to share best practices to harness the 
opportunities of digital economy and foster an enabling environment, acknowledging the impor tance 
of cooperation on facilitating the flow of data and strengthening consumer and business trust in 
digital transactions.  
 
Structural Reform  
An enabling environment, that is market -driven and supported by innovation, is critical to increase 
economic op portunities for all segments of society. Structural reform serves as a key driver for 
prosperity, business recovery, as well as strong, sustainable, balanced and inclusive growth. W e 
note the progress towards the new action agenda on structural reform and urge Economies  to take 
pragmatic steps to advance the agenda in 2021 and beyond, including by finali zing the enhanced 
structural reform agenda.  
 
We note the 2020 APEC Economic Policy Report (AEPR) on Structural Reform and Women 's 
Empowerment. Women still f ace significant structural barriers that affect their economic participation 
and security, including their access to digitally enabled services.  We are committed to undertake the 
necessary steps to address these challenges and advance efforts to remove existing legal, regulatory 
and structural barriers faced by women in the economy, in workforce participation and 
entrepreneurship.  We reaffirm our commitment to adopt approaches, substantive measures and 
policies that focus on economic recovery effo rts to benefit and empower women and girls. We are 
executing the La Serena Roadmap for Women and Inclusive Growth Implementation Plan, in order 
to reali ze the full potential of women and advance their full and equal participation in the economy.  
 
The econo mic disruption caused by the COVID -19 pandemic has brought about significant changes 
to our present and future work setting. There is a pressing need for further cooperation among 
Economies to equip people with the necessary knowledge, skills and training for a highly digitali zed 
work environment. We look forward to the 2021 AEPR on Structural Reform and the Future of Work.  
 
Economic and Technical Cooperation  
Cognisant of the interdependence among low -carbon and climate -resilient green growth, regional 
economic prosperity and a healthy planet, we endeavour to strengthen our economic and technical 
cooperation to deliver economic policies that complement our efforts to achieve sustainable 
development and address all environmental challenges, including climate  change, extreme weather 
and natural disasters. We recogni ze the essential role of energy security, energy resilience as well 
as affordable and reliable access to energy using the widest variety of fuels and technologies, which 
will advance transitions to cleaner energy, support sustainable economic growth, and achieve a 
strong and inclusive economic recovery.  
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  Recogni zing the importance of sustainable management of natural resources and noting the region 's 
rapid population growth and urbani zation, we welcome APEC 's work to support resource efficiency 
by exploring ways to safely and innovatively manage waste and note the work on smart and 
sustainable cities. We are pleased that the Multi -Year Policy Dialogue on Innovative Waste 
Management has commenced and is expected to continue until 2022. The Dialogue serves as a 
platform to pursue policy recommendations that enable efficient and sustainable management of 
resources and waste along the supply chain.  We have reviewed existing priorities and identified 
future opportunities for enhancing regional food security and safety, as well as reducing food loss 
and waste, including through public -private partnership. We note the review of the Food Security 
Roadmap 2020 and the implementation of the Multi -Year Action  Plan on Food Security and Climate 
Change and the Strategic Framework on Rural -Urban Development.  
 
We remain focused on the need to promote responsible resources management, including ocean 
conservation and the sustainable use of marine and forest resourc es. We note the work on 
combatting illegal, unreported and unregulated (IUU) fishing, illegal logging and associated trade, 
as well as addressing marine debris.  
 
We note the final assessment of the APEC Strategy for Strengthening Quality Growth, and 
ackno wledge the importance of promoting institution building, enhancing social cohesion, and 
mitigating harmful environmental impacts, towards strong, balanced, inclusive, sustainable, 
innovative and secure growth in the region, in support of global efforts inc luding the 2030 Agenda 
for Sustainable Development.  
 
We acknowledge the serious threats posed by corruption to Economies, as it erodes trust in 
institutions, hampers economic development, and further exacerbates inequality and social division. 
We intend to  continue to nurture and sustain good governance, economic development, and 
prosperity by working together to prevent and fight corruption and ensure transparency.  
 
We reaffirm our commitment towards financial stability in the region. We acknowledge the on -going 
need to advance stimulus measures to help economic recovery, while underscoring the importance 
of improving fiscal sustainability and transparency to support long -term resilient development and 
future financing needs. We welcome international organi zations and financial institutions ' efforts in 
assisting APEC 's economic responses through the crisis and into recovery.  
 
We reaffirm our commitment to strengthen physical, institutional and people -to-people connectivity 
by 2025, in line with the APEC Conn ectivity Blueprint and note the Mid -Term Review of the Blueprint. 
We look forward to enhancing digital technology, facilitating seamless connectivity, developing 
quality infrastructure based upon relevant APEC work, promoting trade facilitation and strengt hening 
supply chain resilience, as well as promoting cooperation on mobility of people. We note the progress 
towards an eventual launch of the Virtual APEC Business Travel Card (ABTC).  
 
Other Thematic and Institutional Matters  
For APEC to remain relevant and true to its core objectives, we urge APEC committees and sub -fora 
to be more modern, inclusive, effective and efficient, responsive to future challenges and forward -
looking.  
 
We emphasi ze the importance of cross -fora collaboration and engagement with other regional and 
international organi zations.  We value our close cooperation with ABAC, PECC, ASEAN Secretariat 
and PIF.  We commend the APEC Secretariat and PSU for furthering the region 's agenda and 
advancing the priorities for the year.  
 
We note the SO M Chair 's Report of APEC 's work and the ABAC Chair 's report . We endorse the 
Committee on Trade and Investment (CTI) Annual Report to Ministers. We note the Senior Officials ' 
Report on Economic and Technical Cooperation. We approve the APEC Secretariat Acco unt Budget 
and corresponding level of Members ' Contributions for 2021.  
 
We extend our gratitude to Malaysia for its determined efforts and able leadership in hosting APEC 
throughout this challenging year. We commend Malaysia for its unwavering commitment and 
pioneering role in navigating APEC meetings this year,  in a virtual format. We look forward to New 
Zealand 's chairing in 2021.  
 
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